New Year’s Resolution 2: The Coma/Dementia Risk

Much of the asset-protection planning I do involves what happens when someone dies.  For example, you create a last will and testament.  But a lot of bad things can happen to us before we die.   You might be in a car accident and lose your mental faculties.  Or develop mental conditions like dementia or Alzheimer’s.   Are you prepared?

There are three relatively simple legal documents everyone should have.  A durable power of attorney names a trusted person who can take over your financial affairs if you become mentally incapacitated.   A healthcare proxy names someone to make personal and medical decisions if you are no longer able to make them for yourself.  Finally, a living will describes your wishes about what type of medical treatments you want – or do not want – at the end of your life.

If you don’t already have these three documents, make it one of your resolutions to get them.   Without them, your family will have the burden of going to court to get someone appointed to make decisions for you.   This court process not only takes considerable time and costs a lot of money, it raises the chances that family members will fight about which of them should make decisions for you.  Save your family the burden.

Conveniently located in downtown North Attleborough, we serve clients from Massachusetts and Rhode Island, especially the communities of Attleboro, North Attleboro, Taunton, Norton, Foxboro,  Norton, Wrentham, Rehoboth, Plainville, Franklin, Mansfield, Seekonk, Providence, Woonsocket, Pawtucket, Cumberland, and Lincoln.

New Year’s Resolution 1: Protecting Your Home from Nursing Home Costs

It’s a new year, and we want to help you take easy steps to protect your hard-earned assets.  Over the next week or so, we’ll be proposing a series of mini-resolutions that you can easily put into effect right now to protect your family.

Problem:  If you are approaching retirement age, you should know . . . → Read More: New Year’s Resolution 1: Protecting Your Home from Nursing Home Costs

Having the

As families gather together for the upcoming holidays and consider what to give each other, one invaluable gift is often overlooked.   It is a loving and open conversation about the future, in which family members discuss sensitive issues about how the family plans to face the aging, illness, and mortality of its members.

Families . . . → Read More: Having the “Conversation” is a priceless holiday gift

Planning protects you from the Four "D"s

We live in a society that increasingly places us at high financial risk. The statistics are eye-opening.

Forty percent of first marriages end in divorce, as do 60 percent of second marriages. We continue to pile up enormous consumer debt, unable to repay about $22.5 billion of it. We spend about $310 billion a . . . → Read More: Planning protects you from the Four “D”s

Before your kids go off to college, get these legal documents in place

For college-bound freshmen and their parents, this is an exciting summer, full of anticipation.  The kids are becoming adults, and are ready and eager to take responsibility for their own lives.

Amid all this excitement, it is easy for parents to forget that they are no longer the natural legal guardians of their college-age . . . → Read More: Before your kids go off to college, get these legal documents in place