Legal-Ease: What is the Downside of DIY Estate Planning?
Dear Jonathan: I am thinking about preparing my own estate planning documents, including a will, powers of attorney and a trust. A close friend of mine just went through this process and it cost her thousands of dollars and I really don’t want to spend that much money on attorney fees. I think I can figure it out by doing a little research and finding samples on the internet. I know this is your business and you probably don’t think do-it-yourself estate planning is a good idea but what is the downside of my trying to do this on my own? Read More ›
Categories: Did you Know?, Estate Planning, Powers of Attorney
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Legal-Ease: What are my Responsibilities as Fiduciary of an Estate?
Dear Jonathan: My parents just updated their estate plan and told me that they named me in their wills, their trust and their financial and health care durable powers of attorney to act for them when they can no longer act for themselves. I am more than happy to help them, but I would like to know what my responsibilities are when acting in these various roles. When I asked them if they could explain what my duties would be they were not sure how to respond. Can you help? Read More ›
Categories: Estate Planning, Powers of Attorney
Resources for Seniors and Caregivers
There are different types of care services available for elders and their caregivers, both in-person and online. Below, we will explore educational, financial, recreational, and supportive service options that can help develop a community for the senior in your life and for yourself in the caregiver role. Read More ›
Categories: Did you Know?, Elder Law, Long-Term Care
Choosing the Right Housing Situation for Your Elderly Loved One
In a world where we are living longer, elder housing choices have become more plentiful and commonplace; but the terms used to describe these options have also created confusion. What is the difference between a home for the aged and an independent senior community? Is my loved one ready for a hospice center, or is a nursing home a better fit at this stage? Read More ›
Categories: Elder Law, Long-Term Care
Aging Unbound: A Multi-Part Caregiver Resource Guide
With advancing technology and ever-evolving science, it is no secret that we are living longer. As our elderly loved ones continue to get older, we want to be sure we are helping them through the aging process as smoothly and as painlessly as possible – not only for their sake, but for ourselves as caregivers. Read More ›
Categories: Dementia & Alzheimer's, Elder Law, Financing Long-term Care, Long-Term Care
Parents: The Three Essential Legal Documents Your Child Should Have Before Leaving For College
In Michigan, the age of majority is 18 years. This means that when a person turns age 18, they are no longer a minor and are considered to be a legal adult. Consequently when your child turns 18, you no longer have the legal authority to make decisions for him or her, including financial and health care decisions. Read More ›
Categories: Did you Know?, Estate Planning, HIPAA, Powers of Attorney
Executing Estate Planning Documents Outside of Attorney's Office
Occasionally clients will request, for one reason or another, that I mail them the originals of the estate planning documents I prepared for them so that they can have them executed outside of my office at a bank or some other financial institution. Read More ›
Categories: Did you Know?, Estate Planning
When It Comes To Estate Planning, Coordination Is Key
The primary reason most people engage in estate planning is to name who they want to receive their assets when they pass away. Beneficiaries can be named in a will, a trust or pursuant to a beneficiary designation. When naming beneficiaries, it is critically important that your will and your trust (if you have one), not only coordinate with each other, but with the beneficiaries you have named on your various investments, as well as with how your assets are titled. Failure to properly coordinate in all of these areas could have unintended, and in some cases, disastrous consequences. Read More ›
Categories: Estate Planning
Importance of Durable Powers of Attorney
When people decide to engage in estate planning, typically they focus on naming the beneficiaries of their estate and making sure their estate avoids probate when they pass away. In most cases, these concerns are addressed by the preparation of a will, a living trust and certain probate avoidance documents. Those standard documents are an important part of the overall estate planning process, however, durable powers of attorney for financial matters and health care are just as important for other reasons. In fact, regardless of whether they have an estate plan, every adult should have these two durable powers of attorney.
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Categories: Estate Planning, Powers of Attorney
Should Your Family Business Keep a Corporate Minute Book?
Many corporate clients ask why they should spend the time and money to maintain a corporate minute book. This is especially common in small or family-run operations. Other corporate clients don't even bother asking the question, they simply don't do it. Read More ›
Categories: Audits, Compliance, Did you Know?, Liability
Survivor's Checklist:
Due to the shock of the death of a spouse or a loved one, the steps of what needs to be done first can be an overwhelming process for the survivor(s). To aid in the breakdown and to act as a tool amidst the emotional days ahead, estate planning Jonathan "Jay" David has assembled a "Survivor's Checklist" of some of the important things that need to be addressed when a spouse or loved one dies.
Resources and Support for Older Adults Living Alone: A Comprehensive Guide (2024):
Below is a comprehensive guide of resources for older adults living alone, empowering them to thrive independently and access essential services. This guide was created and provided with permission by the National Council on Aging (NCOA).
Resources and Support for Older Adults Living Alone: A Comprehensive Guide (2024) (ncoa.org)
Elder Organizer Tool:
Foster Swift has created a free ‘Elder Organizer’ digital notebook to provide seniors and their caretakers with a toolkit that helps organize doctors’ appointments, medications, and more that can be shared online. The tools below are also available on the Elder Law Resources page.
*For those trying to access these links by smartphone, it is best practice to copy/open the link in a separate tab and download the free Google Sheets app from Google Play or the Apple Store.
COVID-19 Checklist:
For adult children responsible for their elderly parents and other senior caretakers concerned about protecting loved ones as the COVID-19 pandemic continues, below is a free downloadable checklist of steps to follow to prepare for any possible COVID-19-related illnesses among the most-vulnerable.
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E-book Covers Estate Planning Essentials
Engaging in estate planning, while essential, is often emotional and generates many questions. How do I protect my spouse and my children if something happens to me? What happens if I become disabled before I pass on? Who will take care of my pet after I'm gone? How do I pass my business on to my children? These questions and more are addressed in Jonathan David’s recently updated e-book, “Estate Planning: You Have to Start in Order to Finish.”
Need Help Planning?
For more tools, visit our Elder Law Resource page for additional content. Click here to view/download the Foster Swift estate planning brochure to see what our experienced team of attorneys can do for you.