Elder Abuse: Financial Exploitation

Watch for telltale signs

Financial exploitation is the second most common form of elder abuse. Exploitation is theft, pure and simple. Theft by strangers includes lottery scams, telemarketing and sweepstakes fraud, identity theft, and other con games. But theft by those who aren’t strangers is more subtle, hidden, and insidious. Read More >>

Elder Abuse: Neglect

Help is just a phone call away

The most common form of elder abuse is neglect. Your state’s criminal statutes likely prohibit a pattern of conduct that deprives someone of some necessity for physical or mental health. We all need food, water, shelter, appropriate heating or cooling, and medical services to maintain health. Caregivers who consistently fail to deliver these things are abusers. Read More >>

Elder Abuse: An Overview

First, what is it?

Last year, I was privileged to attend a training course on elder abuse with some of Colorado Springs’ finest. Under a grant from the U.S. Department of Justice, Office on Violence Against Women, 50 or so police officers, detectives, and I spent two days of intense immersion into the social crisis of elder abuse. The statistics were grim; the videos horrific. We left with an increased awareness and recognition of the tactics that abusers use to victimize those over 60 years of age. My next several blogs will convey some of what I learned. Read More >>

Long-term Care Insurance: What Are Your Odds of Needing It?

And remember that unpaid care always involves other costs

The following statistics are from materials prepared by the federal Department of Health and Human Services and the Centers for Medicare and Medicaid Services: For folks turning 65 in 2005, 79% of women will need long-term care, while 58% of men will need it.  Read More >>

More About the Basics of Probate, Part 2

As in life, so in death . . .

Probate begins when someone turns in the last will and testament of a recently deceased person (the “decedent”) to the probate court. The court then investigates whether this is indeed the last will and testament, and appoints an executor (or a personal representative or an administrator) to administer the estate.

Administering the estate involves winding up the decedent’s personal affairs. The executor identifies and safeguards all the decedent’s property, pays off all valid creditor claims, fights off any illegitimate creditor claims, and sells or liquidates property, keeping accurate records every step of the way. When all creditor issues are resolved, only then do the beneficiaries get their share, according to the will’s provisions. Read More >>

I Just Want a Simple Will…

Misconception #2 of “The 12 Biggest Misconceptions of Estate Planning Clients”

I hear this one all the time from new clients. They don’t see their lives as complicated, or maybe they’re trying to signal to me that they don’t want to spend a lot of money on estate planning.

I always wonder if they use the same approach with their doctor during their annual physical. As a highly trained and conscientious professional, the doctor will perform all necessary tests to assess health—no more, but no less. Anything short of that would be professional negligence, with the threat of a future lawsuit if something important was overlooked.

 Read More >>

All of My Property Goes Through My Will, Right?

Misconception #1 of “The 12 Biggest Misconceptions of Estate Planning Clients”

Most people know what they own, but few people know how they own it. Unless you’re single with very few assets, this may describe you. How can this be?

Here’s a common scenario. Husband and wife bought their house 10 years ago, and they own it 50/50. But what does the house title actually say? If the title says “jointly” or “joint tenants” or “joint tenants with right of survivorship,” then the house will automatically become the surviving spouse’s sole property upon the death of the other, with no probate process necessary. If those magic words don’t appear anywhere on the title (at least in Colorado), then the deceased spouse’s “half” might have to pass according to the will, or by state law if there is no will.  Read More >>

The 12 Biggest Misconceptions of Estate Planning Clients

Lack of understanding about what the law really says

We’ve all heard the line attributed to Benjamin Franklin: “In this world, nothing is certain but death and taxes.” How true. And that is the concern of estate planning—death and taxes. Throw in planning for disability, and you’ve got the waterfront covered. Read More >>