Maximizing Your Legacy: Going Beyond the Will for Effective Estate Planning
Estate planning is a topic often associated with drafting wills, but it's much more than that. While a will is a crucial element of any estate plan, it alone won't guarantee that your hard-earned assets go to your heirs as intended. In this blog post, Botti & Morison Estate Planning Attorneys, Ltd. will shed light on why relying solely on a will may leave your legacy vulnerable and why a comprehensive estate plan is essential for ensuring your assets are protected and distributed according to your wishes. Understanding the Limitations of Wills A will is undoubtedly a valuable document that ... Read More
Balancing Work and Caregiving: Navigating Legal and Financial Challenges
In today's complex socio-economic environment, approximately 29 million workers, ranging from senior managers to retail clerks, are shouldering the dual responsibilities of maintaining their careers while caring for an aging parent. This dual role, while noble, presents significant legal and financial challenges. Proactive planning and a thorough understanding of relevant laws can mitigate these burdens, ensuring career continuity and high-quality care for loved ones. Legal and Financial Implications of Caregiving Caring for a parent involves navigating a maze of legal and financial considerations. These challenges can be broadly categorized into employment rights, estate planning, and long-term care financing. Employment Rights ... Read More
Advance Health Care Directives for Important Decisions
If we want our dying to be meaningful and merciful, it is imperative that we think about it while we still can. Most of us want to die at home, in a familiar and peaceful setting surrounded by loved ones. We would much rather not spend our last moments in an emergency room or ICU, with strangers futilely pounding on our chests and our families relegated to the waiting room. With those two alternatives in mind, we need to do all we can to keep control, as much as possible, of decisions that need to be made long before our ... Read More
Ensure the True “Power” of Your Power of Attorney for Finances
It’s critical that you have a strongly written Durable Power of Attorney for Financial Purposes ("POA") in case you become unable to manage your finances as part of a Long-Term Care Compliant Estate Plan. Beware if you rely only on POAs that hospitals provide, or that you have pulled off the Internet, or was prepared by a non-attorney or that you have got from other attorneys who do not focus their practice specifically on elder law and long-term care estate planning. When an emergency arises, the bank or health-care provider may refuse to allow your agent to act – and ... Read More
Why It Is Important To Have End Of Life Treatment Options And Prepare An Advance Health Care Directive
In light of the recent Covid 19 Healthcare Crisis that, worldwide, has claimed over 237,000 lives, it is important to ensure that your medical wishes are well-known and documented. The best practice to do so is to prepare a California Law compliant Advance Healthcare Directive, sometimes referred to as a Durable Power of Attorney for Health Care or a Living Will. An Advance Healthcare Directive will ensure that if you cannot give informed consent or denial any longer, that your medical wishes are adhered to up to and including the final moments of your life. It allows you to appoint ... Read More
