Sometimes our elderly loved one will decide that their home is too big and apartment living might be more manageable. However, they aren’t quite comfortable managing on their own in an apartment building but they aren’t ready for assisted living. In this situation an independent living community might be a great solution. They maintain their independence in their apartment unit but have supports on site including a dining room, transportation, activities and other possible amenities. This episode is an overview of independent living communities and the benefits they provide.
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Most of our elderly loved ones want to stay home. They love their home and cherish the memories they have there and the familiarity of their surroundings. The idea of leaving their home is out of the question. But what happens when people can’t manage the home and their care? Do they have move into some sort of long term care community like assisted living or a nursing home? Absolutely not. They can bring in home care to assist them with their needs – whatever their needs are – no matter how big or small. Listen to this overview of home care to learn about the different types of care and how it can be customized to meet your loved one’s needs.
When someone gets divorced there may be laws that direct whether your ex-spouse or your ex-spouse’s family will receive anything from your estate or serve as the executor of your estate by way of a will prepared prior to the divorce. In New Jersey there is a statute that revokes any gifts or fiduciary appointments made to your ex-spouse in your will if that will was prepared prior to the divorce. This can also affect joint accounts or beneficiary designations. Sometimes this is a good thing – if you get divorced and forget to change your documents then you don’t have to worry about your ex-spouse being involved in your estate. But sometimes this is a bad thing – you might want to include your ex-spouse in these things. Listen to this episode to learn about this issue and how you can make sure you achieve your estate planning goals as they relate to your ex-spouse.
By the way, my allergies were bothering me when I recorded this episode so my voice sounds a little funny. I apologize if this is distracting but the content here is so important I wanted to publish this episode even with my froggy voice.
Let me know if you have any questions or comments. Send your emails to Casey@TheStressedOutCaregiver.com
Can one spouse write another spouse out of their will? The answer is yes, you can although it might not lead to a happy marriage. When this occurs there are some protections for the surviving spouse so she will get some money but it might not be what was expected. However, sometimes spouses intentionally write each other out of their wills for asset protection or long term care planning or Medicaid planning purposes. Listen to this episode to learn more.
People expect their will to control all of their assets – after all, your will is supposed to direct who will get your stuff after you pass away. However, the will actually is the last in line when it comes to deciding who gets your stuff. Things like beneficiary designations, joint account owners and trusts take priority over the will. Listen to this important episode to learn more.
Let me know if you have any questions or comments – you can email me at Casey@TheStressedOutCaregiver.com.
What happens if you create a will but don’t want it anymore? What happens if your life changes and you want to modify who gets what when you pass away? Can you change your will? Can you cancel it? What is a codicil? How do you cancel or revoke your will?
We talk about all of this and more in today’s episode – I hope you enjoy it.
Most people think that all of your stuff will go to “the state” if you die without a will. That’s not the case – although it can happen if there are a lot of odd circumstances. Instead there are statutes that dictate who will manage your affairs and who gets your stuff if you die without a will. Listen to this episode to learn more.
This episode is an overview of the Last Will and Testament – the document that directs where you stuff (at least some of it) goes after you pass away. In this episode we discuss the role of executor, beneficiary, what the will controls and when the will takes effect. Check it out – there’s a lot of great information.
052 – What Happens if You Don’t Have a Living Will? When you don’t have a living will it can make things more difficult – but it doesn’t have to. If everyone agrees on the treatment plan then things might go well. However, if people don’t get along the situation can get complicated – regardless of whether you have a living will or not. Listen to the episode to find out how and what can be done about it. Download This Episode