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Incapacity Planning

Tuesday, December 4, 2018

Regular Wills vs. Crypto Wills


Most people want to pass down their assets in accordance with their wishes, with minimal costs, minimal delays, and minimal strife amongst the heirs. Yet there are several problems with using traditional Wills to accomplish these goals. These problems include: not having one’s wishes honored because of losing one’s Will; or having your the Will challenged by heirs; not addressing the distribution of all the of your assets because the Will was written years before death and new assets have been acquired; and high costs of lawyers, h costs needed to pay to lawyers, courts, and executors to finalize the Will.

CryptoWills, which use blockchain, may address some of these problems. First, if the data is stored on blockchain, it cannot be lost.
Read more . . .


Monday, November 26, 2018

5 Things to Do Immediately to Protect Your Digital Assets, Including Crypto-Currency


 

Once you stop to think about it, you might will realize you have more digital assets than physical ones. These include online banking and brokerage accounts (banking and brokerage), photo storage sites, social media accounts, and cryptocurrency. If you were to die tomorrow, does anyone have the right to possess these accounts? Will they know the necessary steps to access them?

Online providers handle the accounts of deceased users differently. Some, (like Facebook,) have created a legacy contract, which enables one to designate a person to manage one’s account after death. Others do not have such a clear policy, and there are federal laws (such as The Computer Fraud and Abuse Act and The Stored Communications Act) that severely limits provider’s’ ability to share personal account information with others.
Read more . . .


Wednesday, October 3, 2018

Psychiatric Advance Directives (PAD) – are they different from a regular health care proxy?

Every individual of adult years and sound mind has a right to choose what shall be done with his own body and to control the course of his medical treatment. Patient autonomy and self-determination are a firmly ensconced principle in New York State Law.

But what happens with patients who have lost decision making capacity? A Health Care Proxy is a powerful tool. Patients may choose a health care agent who will make all health care decisions for them in the future. These decisions include both life-sustaining treatment and on-going medications.


Read more . . .


Tuesday, April 10, 2018

'Aggressive' Advance Directive Permits Halting Food And Water In Severe Dementia

Is this something that you would want? I will be the first person to sign it - because I see the pain and suffering that people go through during the years of dementia.


Read more . . .


Wednesday, April 4, 2018

Guest Blogger: Ashley Taylor from www.disabledparents.org - Preparing Your Home and Your Life for Children as a Disabled Parent


Preparing Your Home and Your Life for Children as a Disabled Parent

 

Preparing your home for parenthood is something every new parent needs to do, but for parents with disabilities, this sometimes takes a bit more planning. For example, just holding your child might be a special challenge for you depending on your disability, so it’s important to make sure your plans accommodate special circumstances. Perhaps you need to hire someone to modify baby furniture or buy special items that make carrying your baby easier.

Safeguarding Your Home

Childproofing is not a new concept, and it is mostly the same process for you.
Read more . . .


Tuesday, January 30, 2018

How to Help Dementia Patients Sleep Better With a Bedtime Routine

Sleep routines are essential for maintaining healthy sleep habits. This is true at any age and ability, but especially for dementia patients.

Dementia patients often experience confusion: about events, facts, and what's happening around them. They may not completely understand what time it is. This can make it difficult for them to pick up on environmental cues that help them figure out when it's nighttime and time to go to sleep.


Read more . . .


Tuesday, October 24, 2017

Imagine your family at peace: How to Have Crucial Conversations with Your Loved Ones about End-of-Life issues


Talking about end of life issues with a loved one who is already sick is difficult. Your loved one may not be thinking clearly, may be in pain, and everyone is likely to be very emotional. That’s why it’s important to have this conversation early, while everyone is thinking clearly. A plan is likely to be empowering for all involved.

A parent may be resistant to receiving care and having crucial conversations with you because she is afraid of losing her way of life, losing privacy, getting old, not having sufficient financial assets, being a burden, having her money taken away from her, being thrown into a nursing home and dying.


Read more . . .


Tuesday, April 11, 2017

Will Anyone Respect Your Wishes?

An incredible book that I read in the past year was “Being Mortal: Medicine and What Matters in the End” by Dr. Atul Gawande. The book is a discussion of the state of American medicine as it relates to end-of-life care. Mr. Gawande argues that doctors often cause more suffering to patients by prescribing completely unnecessary procedures at the end of a person’s life.


Read more . . .


Tuesday, March 21, 2017

What is the right age to get a Power of Attorney?

My answer to this question is always the same: 18! Before you turn 18, your parents are legally responsible for you and can make legal decisions on your behalf. After you turn 18, NO ONE can do that. It comes as a huge shock to most of my clients, but in the event of incapacity -  neither your parents, nor your spouse nor your children can sign for you in banks, speak on your behalf to government agencies or initiate a lawsuit on your behalf. Unless, of course, they have a Power of Attorney or they went to court to seek a guardianship order.


Read more . . .


Wednesday, January 18, 2017

Financial Crimes Against the Elderly


Elderly people are vulnerable to fraud and financial abuse. The reasons are multiple: isolation, weakening mental and physical condition, memory loss and lack of knowledge about today's markets and technology.
According to New York State Elder Abuse Prevalence Study, only 1 out of 44 cases of financial abuse Is reported, usually because the victim is too ashamed to report the incident. Even in 2010, an estimated cost of financial exploitation against the seniors was $2.9 billion.

Read more . . .


Wednesday, August 10, 2016

Rich and Famous Planning: Sumner Redstone – an estate plan that is embarrassment for the man, the family and the company?


Mr. Redstone’s fortune is estimated at $5 billion. He could afford the best legal plan in the world. Yet, despite the assets and despite the multitude of involved lawyers, his estate planning and his last years are turning out to be a mess.

Mr.


Read more . . .


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