Strategies for clients residing in nursing homes
Article Abstract:
Estate planning for the client entering or already residing in a nursing home is planning for disability, and various tools can be used. Both care of assets and health care are necessary. Living wills are advance directives accomplishing the latter. Durable powers of attorney can be a combination of financial and medical. Revocable trusts can be used to manage property when the property holder is disabled and as a vehicle for postmortem gifts. Traditional wills involve evaluating competency, and the comparative advantages of wills and revocable trusts may depend on the client's domicile.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1993
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Surviving spouse may benefit from revised planning
Article Abstract:
Revised or new estate planning may be profitable for a surviving spouse. Estate planners can make sure that taxes on this person's assets are minimized so that as much as possible can pass to beneficiaries. Annual gifts are the best way of downsizing a surviving spouse's estate and minimizing estate taxes. If the first spouse dies while the children are still minors, the surviving spouse must make sure they are provided for if she dies before their adulthood as well. Other underlying facts may change, necessitating modifications to estate planning after one spouse dies.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1993
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Guidelines for clients contemplating organ donation
Article Abstract:
Estate planners should be able to assist clients in planning organ donations under the Uniform Anatomical Gift Act. Proper planning includes preparation of living wills, health care proxies, and organ donation declarations. Mandated choice, presumed consent, disfigurement, and family, public, and religious attitudes are all issues that must be understood by both estate planners and clients alike.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1996
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