One of the biggest threats to your financial security isn’t the markets, interest rates or even your job security. It is a lack of preparation, particularly for unexpected events, that usually leaves investors reeling when markets swoon. If you haven’t protected yourself from the potential downsides in life, after all, then it’s difficult to maneuver when the unforeseen strikes.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
Having an estate plan is among the most important things you can do for your loved ones. It is, however, a task many of us dread and put off dealing with until later in life. If there is one thing we can recommend, it is that it is never too early to start planning. However, it can be too late. Do you have an estate plan that will provide for your loved ones, in the event of death or upon incapacity?
In these uncertain times, it’s more important than ever to have your legal, financial and medical ducks in a row. Sadly, when serious illness strikes it is usually quite rapid and often unexpected. In these times, however, we do have forewarning that we are all at risk of contracting COVID-19, the coronavirus.
COVID-19 UPDATE: Paying for Covid-19 Testing and Treatment if You Have a High Deductible Insurance Plan
If you have a high deductible health plan (HDHP), you may still be able to get coverage for Covid-19 testing and treatment without paying a deductible.
A power of attorney is a document that lets you appoint a person or an organization to handle the financial and medical decisions on your behalf, when you are not able to because of sickness or death. The person or the organization is called the attorney-in-fact or the agent. POA is given to someone whom you can trust with your life.
If someone has lost capacity to execute legal documents and has no power of attorney in place or has a power of attorney that is no longer usable (for example, if the named agents are deceased), a guardianship proceeding may be the only recourse.