You execute two different documents to empower agents to act on your behalf in the event of your incapacitation. For financial decision making, you can create a durable financial power of attorney.The “durable” designation is significant, because this type of power of attorney will remain in effect if you become incapacitated. This would not be the case if you have a standard power of attorney that is not durable. It is also possible to use a springing durable power of attorney. This device … [Read more...] about How do you prevent a guardianship?
Under these circumstances, interested parties would petition the court to appoint a guardian to act on your behalf. This is a necessary remedy, but there are drawbacks that can enter the picture.First and foremost, the person that has the power to act on your behalf may not be someone that you would have chosen yourself when you were of sound mind. Secondly, there can be disagreements among family members with regard to the right person to act as your guardian. Disputes can slow down the … [Read more...] about What happens if you become incapacitated without planning for it in advance?
This is a commonly held belief, but in fact, the widespread nature of Alzheimer’s disease is a major cause of concern. The Alzheimer’s Association does a lot of great work educating people about this disease, and they provide hands-on resources.According to their site, one out of every eight senior citizens is an Alzheimer’s sufferer. The figure rises to 40 percent for people that are 85 years of age and older. Clearly, many people that are in this age group are going to become unable to … [Read more...] about We have all heard of Alzheimer’s disease, but it’s relatively rare, right?
First off, the average lifespan figure is very deceiving. It includes all deaths, including infants, young children, and others that pass away before their time. As you get older, the average lifespan increases. There is a tool on the Social Security Administration website that you can use to see the life expectancy for a person of any age.If you utilize this calculator, you find that the life expectancy for a man that is turning 67 today is 85, and for a woman it is 87. Of course, these … [Read more...] about Most people that are in their 70s are not incapacitated. Since the average lifespan is 78, why should I worry about incapacity?