048: The Elder Care Journey – Part 2: Incapacity Planning
Release Date: 10/05/2020
065: Diablo Valley Foundation for the Aging: A Valuable Community Resource
Absolute Trust Talk
In today’s episode of Absolute Trust Talk, Kirsten sits down with Jody Iorns, Executive Director of the Diablo Valley Foundation for the Aging (DVFA). DVFA is a nonprofit that has been providing services to seniors in Contra Costa County since 1975. Kirsten and Jody dive into the organization’s history and break down all the benefits and support provided to seniors and their families to maintain quality of life. Where you’re local to the area or not, this is an episode you don’t want to miss.
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064: Trust Failures: Don’t Let This Happen to You
Absolute Trust Talk
In a new episode of Absolute Trust Talk, Kirsten sits down with fellow Absolute Trust Counsel attorney Madison Gunn. As a fellow expert, Madison joins Kirsten to discuss some of the most common trust administration failures and what you need to do to avoid these issues with your own estate plan. No matter what stage of the trust administration journey you’re in, you’ll want to listen to this podcast and protect the future of your legacy and your beneficiaries.
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063: Aging in Place: It Takes a Village
Absolute Trust Talk
In a new episode of Absolute Trust Talk, Kirsten sits down with board-elected president Larry Toy of Lamorinda Village. Lamorinda is a 501(c) (3) non-profit developed as a community-based network of people ages 55 and older that offers support and connections to help older adults stay connected and thriving while aging in place. Larry and Kirsten dive into the programs and services that the village offers as well as how people can join and get involved.
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062: Hiring Home Caregivers: Know the Law
Absolute Trust Talk
In a new episode of Absolute Trust Talk, Kirsten sits down with Jon Babione of Ferber Law. He practices in a broad range of employment matters, including discrimination, harassment, wrongful termination, and wage and hour claims, in the state and federal courts and the office of the Labor Commissioner. Jon and Kirsten discuss the requirements involved, and Jon provides some best practices to follow when hiring a caregiver to avoid any legal issues.
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061: Keys to a Successful Transfer of Wealth
Absolute Trust Talk
In this Absolute Trust Talk episode, Kirsten sits down with Richard Del Monte of the Del Monte Group to discuss the underlying reasons why wealth transitions so often fail. They also look at the tools and processes he recommends for families who want to avoid that fate. With more than 35 years of experience, Richard excels in guiding clients through challenging life transitions and finding ways to make seemingly out-of-reach financial goals become a reality.
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060: Navigating the World of Senior Living Communities
Absolute Trust Talk
In a new episode of Absolute Trust Talk Live, Kirsten sits down with placement expert Juliane Bigelow, founder of CareQuest, a local placement agency helping families in Alameda and Contra Costa counties. Listen in to hear a thorough discussion on all the options available, what kind of care is available, general costs, and more. No matter where you are in the planning or decision process, this episode will highlight all the factors you should consider.
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059: Resolving Family Conflict Through Elder Mediation
Absolute Trust Talk
In a new episode of Absolute Trust Talk, Kirsten sits down with Katharina Dress, MA. A mediator and facilitator who specializes in helping families understand each other’s viewpoints, reach an agreement, and ultimately make the best decisions about care and planning for aging loved ones and their families. Listen in to learn more about the issues Katharina sees among family members, what causes tension, and some of the approaches she uses to resolve conflict successfully.
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058: The Importance of Guardianship in Your Estate Plan
Absolute Trust Talk
In a new episode of Absolute Trust Talk Live, Kirsten discusses the different types of guardianship in California, the process of guardianship, factors to consider when choosing a guardian, and more. Naming a guarding for your child(ren) and the work that goes along with it is largely misunderstood. Tune in to get the facts and find the right next steps for including guardianship in your estate plan.
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057: Estate Tax Returns: Why You Might Want to File Anyway
Absolute Trust Talk
In a new episode of Absolute Trust Talk Live, Kirsten sits down with CPA Margaret Schopp. Margaret’s firm, Schopp & Co., focuses on trust and estate tax returns, including Form 706 for (portability). Listen in as Kirsten and Margaret break down the estate tax return process, discuss how to calculate it, and review the significant benefits as well as some common mistakes to avoid. Even if you don’t meet the current estate tax exemption, you might want to file anyway.
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056: 5 Mistakes to Avoid When Moving Senior Parents
Absolute Trust Talk
In a new episode of Absolute Trust Talk Live, we are thrilled to welcome Seniors Real Estate Specialist Dayna Wilson of Keller Williams. Dayna and her team have over a decade of experience providing comprehensive senior-friendly transition services, handling virtually every facet of the process. Today, she dives into what that process looks like, why and how to start planning now, tips on communicating with parents, and strategies for a successful move.
info_outlineEstate planning is an interesting topic, usually because most people immediately think we're talking about planning for their death. But what happens if you are unable to make decisions for yourself? Incapacity planning is one of the most critical planning strategies you can implement because things can be challenging for your family without it.
In this new episode of Absolute Trust Talk LIVE, Kirsten takes a look at part two of the elder care journey. She discusses some real-life scenarios in which incapacity planning has been vital to take proper care of a loved one who can no longer make decisions for themselves legally. No matter what type of plan you have in place, incapacity is something that everyone should address because you just don't know when something could happen. We hope you will take some time to listen in and share this episode with your friends, family, and loved ones.
Big Three from Episode #048:
- A written estate plan is critical when it comes to making decisions and acting on behalf of another person legally.
- If a document requires incapacity, it specifies precisely what that means. So, be sure to read the document carefully.
- Without the proper documentation, you will have to go to court.
Time-stamped Show Notes:
2:57 – When do we know that someone has sufficient cognitive impairment that allows another person to step in and make decisions for them legally?
5: 07 – What are the different kinds of Powers of Attorney?
7:16 – Why is it critical for a person to have a written estate plan and Power of Attorney?
10:41 – How does someone go about getting the authority to do estate planning for someone else?
13:21 – What if a client doesn't have the legal capacity to understand what's going on or make a decision?
14:34 – What happens if an elderly parent makes changes to their estate plan at a time when they may not have legal capacity?
17:01 – What do we do if we have a power of attorney, and we also have the two doctor letters, but the bank we are dealing with still won't accept it?
19:19 – Is a written doctor note stating that a person can do estate planning valid?
Resources/Tools/Links Mentioned in This Episode:
[Ad] If you become incapacitated without a plan, you don’t have time to wait. Support and care are needed right away. At Absolute Trust Counsel, we can help explore the available options that best meet your needs, so that if you become incapacitated, your life and the lives of your family members can proceed as desired. Schedule a free discovery call today, and let’s discuss how to protect your elder care journey.