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“The Twelve Days of Christmas” is a popular song during the holidays, and often misunderstood to be the 12 days leading up to Christmas. The 12 days of Christmas are actually the 12 days after Christmas, leading up to Epiphany - or the day that the manifestation of Christ’s glory was realized - according to Christian tradition. In the spirit of the 12 days of Christmas, here are 12 ways that a Power of Attorney can help and protect you. 1. Allows You to Plan Ahead: Before a Crisis Hits. If you wait until a crisis hits, it may be too late to prepare a power of attorney. Oftentimes I get … [Read more...]
Protect Your Family: Supplementing Your Needs Through Advanced Medicaid Planning
A supplemental needs trust is a special type of trust established to help people qualify for Medicaid and to live while receiving Medicaid assistance. A supplemental needs trust is quite similar to a special needs trust in form and function, as discussed here, except that the term most often applies to Medicaid recipients, and is almost exclusively associated with the United States’ Medicaid program. Supplemental needs trusts are generally set up to provide for the needs of someone receiving Medicaid, but planning for Medicaid generally requires advanced planning. Advanced planning can be … [Read more...]
Protect Your Family: The (Mostly) Complete Guide To Special Needs Trusts
When I was a little child, my mother always told me that I was special. She told my siblings the same thing, and we believed it. Somewhere around Junior High, my classmates began to use the word special with a different meaning, calling someone “special” if they seemed different, or acted differently than what my classmates considered normal. The usage of this word began to bother me, as it was used in a mocking manner, and seemed to have been co-opted for that purpose. Somewhere in High School or college, the mean-spirited us of the work special seemed to fade away. Apparently those … [Read more...]
Write it Down, Get it Right: Why Written Estate Plans Matter
Have you ever heard someone ask, “Can I get that in writing?” Probably you have. The idea is that if someone says something you think is too good to be true, you want them to write it down so you can hold them to what they said. Most people also think if something is written down, it will be legally enforceable. While this may not always be true, having something in writing does help alleviate misunderstandings. Written communication and written directions need to be clear and understandable, and nothing about estate plan differs from that general principal. If anything, the need for a … [Read more...]
Why Creating Your Own Estate Plan is Better than Default Colorado Intestate Laws
Everybody is special, unique, and wonderful, and everyone’s life is a little bit different. Since you are unique, when it comes to the Colorado Intestate Laws, and your final wishes, why would you want to be subject to the default laws set up by the legislature to apply to everyone? The State Legislature makes the laws, and has set up default rules for estate planning and who gets property after someone passes away. When someone dies without a will, that person is referred to as having died “intestate,” meaning without a will, as opposed to the interstate, shown in the picture. The real … [Read more...]
ARE YOU SURE? THE WORST ESTATE PLANNING ADVICE YOU EVER HEARD
Everyone likes to feel knowledgeable and give advice. Unfortunately all of the advice that people give is not always all that good. I frequently meet people who have been given incorrect advice. Some of the most common well-intentioned, yet incorrect, advice I have heard is listed here. Have you ever heard anyone say something like this? “I don’t have anything, so I don’t need a will.” “My family knows everything I want to have happen, and they will take care of it.” “As soon as I die, my spouse automatically gets everything.” or “Everything just goes to my kids.” “That’s … [Read more...]
How NOT to work with your estate planning attorney
How NOT to work with your estate planning attorney I think that I get along with most people. Exceptions seem to include people who treat my children poorly, or basketball coaches who forget how to talk to me when I referee basketball. Other than that, and a few people who seem to not like my sense of humor, I think I do pretty well at getting along with people, including those for whom I do legal work. I often tell people that they should work with an attorney they like, as all attorneys need to have a basic level of competence to practice, and we all like working with pleasant people. … [Read more...]
What is “Mobile” Estate Planning Anyway?
I am not sure if mobile estate planning makes you think I am driving around playing music like an ice-cream truck, hoping to attract you by playing a recognizable song and offering a frozen treat. Or, perhaps mobile estate planning conjures up visions of a library bookmobile visiting your neighborhood, but that is not quite how it works. “Mobile” Estate Planning means I come to you. I work with you to plan what happens to your assets upon death, and also to figure out how to get you from here to there - called end of life planning, and I meet with you where you are. I started mobile … [Read more...]
Hey Mr. DJ, Pump Up The Plan
Hey Mr. DJ, Pump up the Plan! My father has an interesting hobby; he buys and fixes broken sound equipment. This hobby, combined with his love of music, lends itself to a great side job – being a DJ. Ever since I was 14 years old, I have been working as a DJ or live sound technician. Never full time, but as a fun side job. I still DJ as part of a company my brother and I have, although on a more limited basis, as I have other time commitments, but you can still find me at www.jd-mba.co. Through the years, I have worked hundreds of weddings, dances, parties, and other events – I even … [Read more...]
How Do You Get From Here to There: End of Life Planning
“It ain’t Over till It’s Over” - Yogi Berra I had a client call me Dr. Death the other day. I pointed out that I am not a real doctor, as I don’t have the right degree, and also said that just because I help people plan for what happens to their assets after they die, that doesn’t mean I am trying to get rid of them. In fact, quite the opposite is true – I want my clients to live long and happy lives, not using the documents I created for decades after the documents are written. If my clients live a long and happy life, what use do they have for my services? … [Read more...]
