When a client becomes incompetent the person named as the “attorney-in-fact” in the Power of Attorney form must step in and assist with all components of the client’s financial life. An attorney-in-fact handles all money matters – paying bills, investing assets, ensuring safekeeping of valuables while maintaining detailed and accurate records of all transactions. The attorney-in-fact is the incompetent person’s…
Month: August 2017
Did You Know that “Incompetent” People Cannot Sign Legal Documents?
Under the law, a person must have the “capacity” to validly sign legal documents. Before I permit my clients to sign their wills, I must believe that they know what belongs to them and to whom they wish to leave it. For example, if a client knows she has four kids and wants her money and personal belongings split evenly…
You Have Your Way, but Where’s Your Will?
Not finding a loved one’s signed, original will is very frustrating. If the will cannot be found, then it cannot be used. Clients sometimes tell me that their mom or dad died with a will, but it can’t be found. Courts will not probate the idea of a will, so we actually need the signed original. In some circumstances, a…
How and When to Enroll in Medicare
Eligibility for Medicare begins on your 65th birthday. You can sign up for the program then, or delay doing so if you are still working. Failure to timely enroll will result in late-enrollment penalties – usually a substantial increase in your monthly Medicare premium price. You will be automatically enrolled on your 65th birthday if you have chosen to receive…
Disposing of Unwanted Medicine
When my clients move from their homes, they frequently leave unused medicines. My assistants and I often find partially full prescription bottles when we help families clean out homes after a loved one dies. For most people, the first impulse is to throw unwanted drugs down the drain or flush them down the toilet. But please don’t do this! This…
Grandma Needs Groceries
Some of my clients live at home but can no longer physically manage a trip to the grocery store. As a result, they often entrust an aide or a friend with money or access to credit. Sadly, those arrangements have frequently led to betrayal, and my clients have had money stolen and their credit cards used for unauthorized purchases. Some…
Winter Home Listings Equal Lower Prices
As a probate attorney for the past decade, I’ve been involved in somewhere between one and three home sales every year. The biggest lesson I’ve learned is not to list a home during snow and ice season! Here in Montgomery County, winter runs from Thanksgiving through the first full week in March. Few prospective buyers bother shopping during this season.…
A Joint Owned Bank Account Is not Yours Alone
Many people add friends or family members to their bank accounts for convenience or to avoid probate. But, when circumstances change, and the original account holders want to regain sole ownership of their accounts, they are shocked to learn they cannot. Many people add friends or family members to their bank accounts for convenience or to avoid probate. But, when…
Helpful Phone Numbers
When an older parent has sold a home or is preparing to move, who do you call to change services in the DC metropolitan area? Here is a list of a few numbers to have on hand so you can call and make the necessary changes to the accounts. Electricity: PEPCO 202-833-7550 or BGE 800-685-0123Gas: Washington Gas 800-752-7520Water: WSSC 301-206-4001Verizon:…
Maximizing Your Social Security Payout
You can start drawing Social Security benefits any time between the ages of 62 and 70. The longer you wait to start, the greater your monthly benefit. If you start at age 62, you get about 75% of your retirement benefits; and if you wait until age 66, you get 100%. But if defer for the maximum period, until age…