Most of my clients need a little extra help around the house but aren’t sure how to pay for it. When we look at their savings and project how long those funds will work for them, the bottom line is usually this: If the client had just a little more cushion, they could stay...
Continue reading…
Beware of the Binding Arbitration Agreement in the Nursing Home Admission Packet
Imagine that you’re being admitted into a nursing home. You are having trouble making decisions and managing your affairs at this point. Luckily, you planned ahead and have a Health Care Proxy in place. Your agent fills out the reams of paper that seem necessary for your admission, including a binding Agreement to Arbitrate....
Continue reading…
Which Hospital Must an Ambulance Take You To – Can You Demand a Specific Hospital?
The answer is – it depends.
If there is an emergency and you are unable to express your wishes, even if you have advanced medical directives or a health care proxy in place, the Emergency Medical Technicians or Paramedics responding to the call are obligated to stabilize you and transport you to the nearest appropriate...
Continue reading…
Heard at the Office: “I Don’t Need a Power of Attorney, My Spouse Can Manage My Finances for Me.”
That would be the simplest approach, but unfortunately, this is not the case. For any accounts that are joint with your spouse (usually bank accounts, like savings, checking, and CD’s), then yes, even if you are in the hospital or develop dementia, your spouse can manage those accounts.
But what about accounts...
Continue reading…
Heard at the Office: “Can’t My Spouse Automatically Speak for Me at the Hospital?”
Under the law, no. In real life, sometimes.
Many people think that they don’t need to sign a Health Care Proxy because they assume that the law permits their spouse to speak for them in medical emergencies. The law actually says quite the opposite. Only you or someone you have...
Continue reading…
Big Step Forward for Alzheimer’s Care & Research
On January 17, President Obama signed a funding bill containing what the Alzheimer's Association calls “an unprecedented $122 million increase” for Alzheimer's research, education, outreach, and caregiver support.
The specifics, as outlined in the Alzheimer’s Association press release, are as follows:
• A $100 million increase for the National Institute on Aging for Alzheimer's research, which...
Continue reading…
Life and the Afterlife: Durable Powers of Attorney & Health Care Proxies vs. Wills
There is some basic vocabulary that almost everyone mixes up. Understanding which word to use when will help you better understand your estate planning documents.
During Life
During your lifetime, you want to have someone as “backup” to help you with your finances and personal business should you become incapacitated. (Or if you decide...
Continue reading…
Shred Day This Saturday 9/21 @ South Shore Bank
Received this email:
Shred Day
Saturday, September 21, 2013
9:00 AM to 12:00 PM
Pembroke Branch
75 Washington Street, Pembroke
For those who feel like they are buried in personal documents that they don't want to throw out for fear of identity theft, South Shore...
Continue reading…
Scammers Abound with Health Care Reform Starting Soon
Michelle Singletary has done it again. I love her columns. Read her latest column on how to watch out for scammers pretending to help you enroll under the Affordable Care Act.
A few hot tips:
If you get an unsolicited call regarding health care insurance, hang up.
Never give out personal information such as credit card...
Continue reading…
Questions Answered on Reverse Mortgages
The National Council on Aging, a leading nonprofit, has a good page on their website with important questions about reverse mortgages. These questions include "What’s the difference between a reverse mortgage and a regular home equity loan?" and "Aren’t reverse mortgages just scams that give money to big banks?" (no).
They...
Continue reading…