{"id":3743,"date":"2019-07-30T11:15:05","date_gmt":"2019-07-30T15:15:05","guid":{"rendered":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/?p=3743"},"modified":"2022-06-01T13:24:33","modified_gmt":"2022-06-01T17:24:33","slug":"6-step-estate-plan-for-you-and-your-parents","status":"publish","type":"post","link":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/6-step-estate-plan-for-you-and-your-parents\/","title":{"rendered":"6 Step Estate Plan For You And Your Parents"},"content":{"rendered":"\r\n<p class=\"has-text-align-center\"><em>READ THIS IF YOU WANT TO PROTECT YOU AND YOUR PARENTS WITH A PROVEN ESTATE PLANNING FORMULA&#8230;<\/em><\/p>\r\n\r\n\r\n\r\n<p>We&#8217;d been married for more than 30 years and were very close with Terrie&#8217;s mother &#8220;Jean,&#8221; spending every holiday and Sunday together (her name has been changed here for privacy reasons). But our happiness turned into a nightmare in the span of just a few weeks.<\/p>\r\n\r\n\r\n\r\n<p>We think our story about protecting Jean from a\u00a0financial predator\u00a0is worth knowing for anyone with an elderly parent. And based on our harrowing ordeal, we recommend six steps (below) to keep yourself and your family safe and financially sound.<\/p>\r\n\r\n\r\n\r\n<p>Here\u2019s our story:<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">A Car Crash and Then a Financial Predator<\/h4>\r\n\r\n\r\n\r\n<p>First, Jean was in a car accident and suffered a severe traumatic brain injury, which severely impacted her short-term memory, leaving her frustrated and vulnerable. We then became her primary caregivers and nursed her through a difficult recovery.<\/p>\r\n\r\n\r\n\r\n<p>In the months that followed, &#8220;Billy,&#8221; Jean&#8217;s long-time boyfriend who had avoided meeting us, took advantage of Jean&#8217;s disability and confusion to convince her that Terrie was stealing her money. He managed to also persuade a police officer (with no evidence) as well as a judge \u2014 who issued a restraining order without a shred of proof.<\/p>\r\n\r\n\r\n\r\n<p>In addition, home care workers allegedly colluded with Billy, helping to make arrangements for a one-day visit to Las Vegas, so Billy and Jean could get married there.<\/p>\r\n\r\n\r\n\r\n<p>As a result, our lives were turned into a roller coaster ride as we were thrust into a four-year legal battle to save Jean from a financial predator and a justice system gone wrong.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">What Her Mom Did Right<\/h4>\r\n\r\n\r\n\r\n<p>Fortunately, Jean and her first husband had put their estate plans in place through a family trust, which made it possible for Terrie to successfully fight for a\u00a0conservatorship\u00a0for her mother. But not before Billy closed all of Jeans&#8217; bank accounts, opened new joint accounts, cashed some bonds and took Jean&#8217;s name off one of the accounts.<\/p>\r\n\r\n\r\n\r\n<p>Though still estranged from Jean, we have made certain that Billy can&#8217;t drain Jean&#8217;s financial assets through the trust \u2014 nor will he inherit them \u2014 assuring that Jean can live out her life being financially comfortable.<\/p>\r\n\r\n\r\n\n<a style=\" font-size: 1.5em;text-transform: uppercase;text-decoration: none;font-family: Arial, Helvetica, sans-serif;padding: .3em .6em;letter-spacing: .05em;color: #333;\" href=\"javascript:\/\/\" data-opf-trigger=\"p2c135917f238\">GOT QUESTIONS&#8230;  JUST CLICK HERE!<\/a><script type=\"text\/javascript\" async=\"true\" src=\"https:\/\/app.ontraport.com\/js\/ontraport\/opt_assets\/drivers\/opf.js\" data-opf-uid=\"p2c135917f238\" data-opf-params=\"borderColor=#fff&amp;borderSize=5px&amp;formHeight=973&amp;formWidth=100%&amp;popPosition=mc&amp;instance=n1452363127\"><\/script><br><br>\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">6 Estate Planning Steps for Families<\/h2>\r\n\r\n\r\n\r\n<p>Based on our experience, we think others should take these six steps to ensure their family knows their wishes and plans when they die or become mentally or physically\u00a0incapacitated:<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">1. Organize your emergency information.<\/h4>\r\n\r\n\r\n\r\n<p>This is more than a list of doctors and phone numbers. It should include specifics about your digital assets, bank accounts, storage rental, lawyers and financial advisers. Doing so will save your loved ones additional stress during an already stressful time and can be critical for quick decision-making.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">2. Draw up a\u00a0will\u00a0and maybe\u00a0trusts, too.<\/h4>\r\n\r\n\r\n\r\n<p>Meet with an\u00a0estate attorney\u00a0who can give you guidance and create the proper documents. Make sure everything is as clear as possible and easily understood so there will be no questions about what you really meant.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">3. Designate a\u00a0durable power of attorney.<\/h4>\r\n\r\n\r\n\r\n<p>This allows the person you designate to make legal decisions if you\u2019re incapacitated. Provide as much detail as possible, including safe deposit boxes and passwords to online accounts. Without power of attorney, the courts or a third-party designated by the courts will wind up making legal decisions.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">4. Prepare an\u00a0advance medical directive.<\/h4>\r\n\r\n\r\n\r\n<p>This document will save family members from having to make end-of-life decisions for you.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">5. Open frank conversations with your parents about their financial affairs sooner rather than later.<\/h4>\r\n\r\n\r\n\r\n<p>\u201cDon\u2019t wait until they have an injury, get sick or you notice that they shouldn\u2019t be driving anymore,\u201d says Terrie.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">6. Tell your grown children your plans.<\/h4>\r\n\r\n\r\n\r\n<p>They probably assume you have been smart with your money. Prove them right. Then teach them to put their affairs in order, too.<\/p>\r\n\r\n\r\n\r\n<h4 class=\"wp-block-heading\">A Final Piece of Advice<\/h4>\r\n\r\n\r\n\r\n<p>Putting your affairs in order is not about death. It&#8217;s about making sure things get done your way and the\u00a0<em>right<\/em>\u00a0way. It is one of the most important financial and lifestyle decisions of your life. It&#8217;s about writing the last chapter of your amazing\u00a0legacy.<\/p>\r\n\r\n\r\n\n<script type=\"text\/javascript\" async=\"true\" src=\"https:\/\/app.ontraport.com\/js\/ontraport\/opt_assets\/drivers\/opf.js\" data-opf-uid=\"p2c135917f239\" data-opf-params=\"borderColor=#000000&amp;borderSize=5px&amp;embed=true&amp;formHeight=1352&amp;formWidth=100%&amp;popPosition=mc&amp;instance=2136377719\"><\/script>\n\r\n\r\n\r\n<p>Article reference:<br \/><a href=\"http:\/\/www.forbes.com\/sites\/nextavenue\/2015\/06\/25\/6-essential-estate-planning-steps-for-you-and-your-parents\/#5247c2b753ae\">www.forbes.com<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>READ THIS IF YOU WANT TO PROTECT YOU AND YOUR PARENTS WITH A PROVEN ESTATE PLANNING FORMULA&#8230; We&#8217;d been married for more than 30 years and were very close with Terrie&#8217;s mother &#8220;Jean,&#8221; spending every holiday and Sunday together (her name has been changed here for privacy reasons). But our happiness turned into a nightmare [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":8380,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"_links":{"self":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts\/3743"}],"collection":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/comments?post=3743"}],"version-history":[{"count":10,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts\/3743\/revisions"}],"predecessor-version":[{"id":8381,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts\/3743\/revisions\/8381"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/media\/8380"}],"wp:attachment":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/media?parent=3743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/categories?post=3743"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/tags?post=3743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}