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February 2013 Archives

State releases new form that will help patients' families make end-of-life decisions, P.2

In our last post, we began speaking about a new form developed by the state of New Jersey and the New Jersey Hospital Association that allows patients to avoid the situation where their family doesn't know their goals and wishes for end-of-life care. The form, we noted, is separate for an advance health care directive commonly used in the estate planning process.

State releases new form that will help patients' families make end-of-life decisions, P.1

Last Friday, the New Jersey Hospital Association and the state of New Jersey released a new form known as Practitioner Orders for Life-Sustaining Treatment. The form enables terminal patients to decide, together with their families, the type of end-of-life treatment they want while they are still able to make that choice.

Living trust has benefits

Establishing a revocable living trust can prove wise, according to one estate planning attorney. What is a revocable living trust? It's a living trust established with your own assets and under your terms. It can be changed or terminated at any time before your death.

Durable power of attorney ensure your finances will be properly managed

According to the Alzheimer's Association, 5.4 million Americans live with Alzheimer's disease. The disease, which affects one in eight older Americans, can eventually make it impossible for sufferers to manage their finances, but even milder cognitive impairments can cause problems. In some cases, impaired elders have been defrauded by scam artists, securities salesmen, and even relatives after losing their judgment to cognitive impairment.

Doing asset protection planning? Do it right, don't rush in.

Asset protection is an important discipline used in conjunction with estate planning which employs various strategies to ensure that one's wealth is not unnecessarily at risk of being depleted. Many people benefit from doing a little, or a lot, of asset protection. But one thing to be careful about is that you get good advice when doing asset protection.

Estate planning for singles

Often, some of the trickiest estate planning conundrums come from people who have many assets and a large, complex family. These people often find that they need to carefully utilize several different estate planning tools in order to ensure that their assets are properly divided amongst their children and other family members.

Disinheriting a relative: The ins and outs

Contrary to popular belief, disinheriting someone-- that is, removing them from a will-- is not necessarily an act of betrayal or hatred. In fact, disinheriting relatives is surprisingly common, and it happens for a number of reasons. Some New Jersey parents, for example, may remove one child from their will because they want to be able to give more to another child, who may be struggling financially.

Death at X-Games highlights need for estate planning when young

A 25-year-old participating in last week's ESPN's X-Games suffered fatal injuries in a sustained crash while attempting a trick by snowmobile. The crash and the severity of the complications that arose from it highlight the extreme dangers that young people are often putting themselves in when seeking the ultimate thrill and glory in competition and in life.