1232 Blue Ridge Blvd, Hoover, AL 35226

Nolan Elder Law and Estate Planning, LLC Blog

Friday, April 21, 2017

Managing Your Money as You Age


What steps can I take to improve my financial management skills as I grow older?

As you age, your financial capacity or ability to manage your own finances could decline.  Managing your finances is a complex task that requires much more than paying bills.  To effectively manage your funds, you need to understand how to read a brokerage statement, weigh investment risks, and prepare for long-term expenses.  Declining financial capabilities may leave you vulnerable to financial abuse and could drain your hard-earned assets.  

Our


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Sunday, April 16, 2017

Worried About Challenges to Your Will? Consider a No-Contest Clause


Estate planning exists to enable you to provide for your loved ones and to distribute your wealth according to your wishes. Unfortunately, when learning of the contents of the will, some people may feel aggrieved by the share of the estate they receive and decide to contest your will in court. Knowing that your will may be challenged is a valid cause for worry. Fortunately, there is a potential solution: a no-contest clause.

The No-Contest Clause

In Alabama and other US states, a no-contest clause is essentially a written specification stipulating that any person who contests the will is to lose his/her status as a beneficiary.
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Thursday, March 16, 2017

Identifying Elder Abuse and Neglect


What are the signs of elder abuse?

Recently, three nursing home employees were arrested for neglecting an elderly patient.  A grand jury issued indictments against the three women after horrific evidence emerged that the employees failed to check on a resident overnight then lied about it.  When staff finally checked on the bedridden resident, they discovered she had suffered 100 ant bites during the 11 hours that she was left alone by the negligent staff.   

Sadly, this Alabama case is far from isolated.  Thousands of incidences of elder abuse occur each year, and the rate of elder abuse appears to be on the rise.
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Saturday, March 11, 2017

I Have A Will...Do I Need A Trust?


After spending your whole life working, it makes sense that you would want to take all the steps necessary in order to ensure you still have some control over what happens to your assets when you pass away.

Regardless of your situation, it is important to collaborate with an estate-planning lawyer to make sure your affairs are settled. Having a will drafted is an important step to take as you decide how you would like your assets and property to be divided upon death.
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Friday, March 10, 2017

HAPPY ANNIVERSARY!


I had a nice married couple in my office this week. They had never created a Will, Power of Attorney or Healthcare documents even though they were in their mid-fifties. I asked them "why now?" Their answer was brilliant!

 They said that they were giving the estate plan to one another for an anniversary present! They had all the stuff they needed already, so more stuff would just add to the clutter. What they DIDN'T HAVE was a way to distribute all that stuff after they were gone. Their Last Will and Testament handled that task nicely.
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Friday, February 17, 2017

Protecting Your Assets from Nursing Home Costs


What estate planning tools will help me to preserve my assets if I need to enter a nursing home?

An unfortunate aspect of aging is considering the possibility that you may not be able to live independently forever.  Nursing homes provide quality care for elderly individuals that suffer from a disability, physical illness, or cognitive impairment, such as Alzheimer’s disease, that prevents them from living on their own.  Over 1.3 million Americans are currently residing in nursing home care and close to half of all elderly individuals will require long-term care at some point in their lives.  

Nursing home costs have skyrocketed, and few families in Alabama can afford to pay for long-term care out of pocket.


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Saturday, February 11, 2017

How Can a Special Needs Trust Help My Family?


If you care for a loved one who is challenged on an ongoing basis with a physical or mental disability, you know the hardships that go along with trying to ensure that they remain safe and financially secure. Careful planning must go into determining how and when assets are transferred, particularly in the event that you can no longer care for them. Without careful special needs planning, your loved one may miss out on important government benefits.


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Monday, January 23, 2017

Types of Powers of Attorney in Alabama

Which power of attorney do I need?

A power of attorney (POA) is a legal document that allows you to give someone else the legal right to act on your behalf.  A POA can be general, providing the named person with power to make all decisions for you, or limited, allowing control by someone else for just a specified matter.  Setting up a power of attorney is an important part of your estate plan, but many people are confused as to which power of attorney they need.  There are several types of powers of attorney, including:



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Tuesday, January 17, 2017

A Primer on Advance Medical Directives


How can I plan ahead for my medical care

A well designed estate plan can help you achieve a number of objectives, most of which are geared toward protecting your assets and providing for your loved ones after you pass away. At the same time, it is equally important to plan for the type of medical care you prefer to receive in the event of an accident or illness that renders you unable to make these decisions. In short, it is essential to plan for incapacity by creating advance medical directives, such as a durable power of attorney for healthcare and a living will.

Durable Power of Attorney for Healthcare

Also referred to as a healthcare proxy, allows you to designate a trusted family member or friend to make medical care decisions on your behalf in the event you become incapacitated. This person acts as your agent and works with your doctors so that they provide the type of medical care you prefer.


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Monday, January 9, 2017

"Can I keep my mink coat and jewelry (or tools and guns) if I go to the nursing home?"


Many people worry that they will lose their possessions if they have to move to the nursing home. They fear that the nursing home will take everything, their house included! Let's set the record straight.

 

If you have to move to the nursing home, the nursing home is worried about one thing only. They worry about being paid on time. No nursing home that I am aware of is in the pawn-shop business or the barter business.
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Friday, December 30, 2016

Probate in Alabama Examined


How can I avoid probate in Alabama?

Probate is the court process by which the assets of a deceased loved one are managed and distributed.  Probate can be a time consuming and expensive process, especially when the deceased individual dies without a will.  Generally, probate begins with a petition or application filed in the county in which the deceased person lived. The court will appoint an executor who is charged with keeping the estate property safe during the probate process and preparing a list of all assets.  Executors will need to obtain the assistance of an experienced Read more . . .


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