Following fast on the heels of a decision to go into a particular kind of business is the decision about what kind of legal form it should take. The most common options are a sole proprietorship, a partnership, or a corporation. You may lean toward the corporate route because you like the sound of having “Inc.” after the company’s name, but there are  more practical considerations to take into account.

More so than with some of the other structures for a business, starting a corporation means complying with formalities required by state laws. Once the shareholders (owners) of the business agree on some basic matters, such items are embodied in articles of incorporation that must be filed with the appropriate state agency. These essentials usually include:

• a corporate name;
• the number of shares that can be issued;
• the number of shares each owner will buy and for what contribution of cash or property;
• the nature of the corporation’s business; and,
• the identity of the directors and officers of the corporation who will handle day-to-day operations.

The fledgling corporation will also need bylaws, which constitute a procedural rule book for the company.

Decision Making

The bottom line here is that whoever holds a majority of the shares of a corporation has ultimate control over it. Usually it takes a majority of the shares to elect the board of directors, which is charged with making the “big picture” decisions. If a decision is momentous enough for the company’s future, such as a change in the articles of incorporation or whether or not to merge with another company, the shareholders usually have a more direct role in that they themselves must approve the decision by a certain margin of votes.

The board elects the officers of the corporation, typically including a president, vice-president, secretary, and treasurer. The officers may or may not be salaried employees or shareholders, and in some cases one person may hold more than one office.

Accountability

At or near the top of the list of characteristics favoring the corporate structure is the fact that, since the corporation is treated as a legal “person” separate from the people who own and run it, the shareholders as a rule are not personally liable for the corporation’s debts. Instead, their risk is confined to their investment in the company. To every rule there is an exception, however, and here the exception has the colorful legal name of “piercing the corporate veil.” If the owners do not comply with the statutory requirements for running a corporation, or if they blur the lines too much between corporate and personal finances, the legal fiction of the corporation as a separate entity is ignored and the owners are on the hook for the corporation’s losses.

Transitions

As a separate entity in the eyes of the law, a corporation does not go out of existence if one or more of its owners die. Instead, a corporation stays alive until its owners decide otherwise. Transfer of the ownership of the corporation is accomplished by selling its stock. New owners are added either when existing owners sell some of their stock or the corporation itself sells more shares of stock. The smaller the enterprise, the more likely it is that the owners, for whom the corporation may be both their property and their employer, may agree to restrict the sale of the stock in order to maintain control.

The particular circumstances of each new business and the differences in the governing laws of the states make generalities difficult. That said, the factors on the debit side of the ledger for corporations include the costs of setting up the corporate entity, the need for a separate tax return, and the burden of “double taxation.” Double taxation means that the corporation is taxed on its profits, and the shareholders are then taxed on their dividends. On the credit side are limited liability for the owners and easy transfer of ownership.

Making the appropriate choice for a business form is one of the first, and one of the most important, decisions a new business will make. You should consult a qualified attorney when forming a business enterprise so that they can help you understand what business form is right for your specific needs.

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First I will discuss the 2001 change. Effective September 1, 2001, Senate Bill 198 amended the Texas Property Code regarding Contracts for Deed. This amendment applies to all contracts regardless of when they were entered into. Again, if you are currently in a contract for deed, the following changes apply.

Under the current law sellers now have to provide purchasers under a contract for deed a tax certificate from the tax assessor collector, proof of insurance coverage, and a current survey of the property.

Further, the law now requires that a Seller’s Disclosure Notice be provided. Such notice must inform the purchaser of the following:

– Whether or not the property is in a recorded subdivision ;
– Whether or not the property has sewer service;
– Whether or not the property has water service;
– Whether the property has been approved for a septic system by the appropriate authority;
– Whether the property has electric service;
– Whether the property is in a floodplain;
– Who maintains the roads;
– Whether anyone else has an interest in the property;
– Whether any individual or entity has a lien filed against the property;
– The purchaser has the right to obtain a title abstract or title commitment to the property; and,
– The purchaser has the right to purchase a title policy to the property.

Another important change is that the law now requires the seller to disclose to the purchaser, BEFORE the contract is signed, in a written statement, the price, interest rate, total amount of principal and interest that will be paid and the amount of any late charge.

Failure of the seller to provide any of the notices mentioned would be a violation of the Deceptive Trade Practices Act. This could nullify the contract, subject the seller to penalties of up to $500 per day, and subject the seller to treble (triple) damages and attorneys fees for the violation.

Another important change affects the cancellation of the contract in the event of default. In the past the law required written notice be by either mail or personal delivery to the purchaser. The law now requires the seller to give written notice by certified or registered mail, return receipt requested.

Under the old law, the amount of time a purchaser had to cure the default varied depending upon what percentage of the purchase price had been paid. This ranged from 15 days to 60 days. The law now provides that purchasers have 60 days to cure the default.

Perhaps a more significant development is related to what court has jurisdiction when there is a default under a Contract for Deed or a Lease with Option to Purchase. Historically, these matters were handled in the Justice Courts (i.e., by the Justice of the Peace) as a forcible entry and detainer suit. However, in Ward v. Malone, 115 S.W.3d 267 (Tex.App.-Corpus Christi-Edinburg 2003, pet. denied), the court held that in order to determine the right to possession, issues of title would have to be resolved; the Justice Court lacked jurisdiction to proceed with forcible entry and detainer actions because such actions involve the issue of tenants at sufferance; and, determining who has the right to possession and issues of title. Thus, suits involving Contracts for Deed, and possibly Leases with Option to Purchase, must be filed in District Court.

It seems obvious that our legislature and courts want to discourage the use of contracts for deed and to protect purchasers under such instruments. This legislation and case law places a huge burden on the seller under a contract for deed with some very substantial penalties for non-compliance. These actions may very well do away with the use of contracts for deed.

If you have sold or purchased property under a contract for deed, then you should consult an attorney to see how these changes may have affected your rights and duties.

The post CONTRACTS FOR DEED – A BAD OPTION appeared first on Moak & Moak, P.C. -Attorneys At Law.

That is a perfectly reasonable step to take, but it is important to consider the ramifications, especially as it may affect federal deposit insurance for accounts insured by the Federal Deposit Insurance Corporation (FDIC). Of course, another overriding consideration having more to do with human nature than federal regulations is whether there is a trusting relationship between or among everyone whose name is on an account.

Joint Bank Accounts

Under FDIC rules, a joint account is a deposit account owned by two or more people who have equal rights to withdraw all of the deposits and to close an account. Married couples, assuming they want to share the funds in the account, like the convenience of such a joint account so that either person can write checks on the account and pay bills from it. At an FDIC-insured institution, each co-owner is insured for up to $250,000 for his or her share in all joint accounts in that institution. But if all persons on the account do not have equal withdrawal rights, the account will not necessarily be FDIC insured up to the same amount as for a true joint account under FDIC rules.

A significant risk exist when you add another to your account, it puts your assets at risk.  I often consult with clients who have added a child to their account.  While they may complete trust in that child, there are factors that should be considered.  If you have added a child to your bank account and that child is sued as the result of an accident, divorce or contract dispute, those attorneys do not care that the account is yours.  Likewise, if your child is audited, the Internal Revenue Service will not care that it is your account.  Another example is if that child is hospitalized and can’t pay their bill.  If they are on your accounts, the attorneys for the hospital can place a lien against your account with the child’s name on it.  These are all real life experiences I have dealt with.

If the goal is to give someone limited access to a bank account when needed but not to grant ownership rights to the account, an alternative is to grant that person a power of attorney. Powers of attorney, which typically authorize someone to represent or act on another’s behalf in financial matters, can be crafted to permit the desired amount of access to bank accounts.

Credit Card Accounts

There are two different ways to give a second person the ability to use a credit card. Making that person a co-owner means that he or she will be financially responsible for all of the debt incurred with the credit card, regardless of which co-owner authorized a particular charge. In the alternative, an authorized user of the card may or may not be financially responsible for the debt, depending on the cardholder agreement. The card owner can put restrictions on authorized users, such as how much debt the authorized user can incur with the card.

Cosigning Loans

Succinctly put, a cosignor on a loan has agreed that the creditor can look to him or her for satisfaction of the debt if the debtor does not pay the debt. This obligation may well extend to any late fees and collection costs made necessary by the debtor’s delinquency. On top of that, the cosignor’s own credit rating could take a hit if the debtor doesn’t pay the debt or pays it late. All in all, the watchwords for cosigning on a loan are “proceed with caution.”

If you want someone to assist you with paying bills or managing your accounts, then you should consider talking to an attorney about the benefits of a Durable Power of Attorney.  Additionally, seeking legal advice before you cosign on a loan, would be a wise decision.

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Here’s a short list of strategies to help your family shore up the financial resources to cover the cost of elder care. And even if your parents are financially settled and don’t need your help, it’s still useful to talk about these subjects and be better prepared.

Start a Regular Family Dialogue

It’s important to ease into the difficult subject of finances with your parents by starting a regular family dialogue and slowly build trust. A parent may feel guilty about poor money decisions in the past, or feel too proud to let their own child take care of them, or may have other plans on how to spend their money.

Talking about the future and asking the hard questions will bring issues to light and may even help improve your relationship. Once you have established a level of trust through honest and caring dialogue, your parents will soon feel comfortable to accept your help.

Set a Clear and Specific Agenda

Prepare for the family dialogue by letting your parents know about the agenda in advance so that you’ll have a productive family meeting. The purpose of these meetings is for you to better understand their financial situation so that you know how you can be most helpful. Below are some questions that can direct your discussion and help formulate a plan of action.

–  Are they financially prepared for retirement?

– Is there a retirement plan or will they just keep working?

– Will they need your financial help?

– Who will oversee activity on bank accounts or help them decide when to file for Social Security?

–  How to create a budget to help prevent them from taking on more debt?

– Who will accompany them to meet with a lawyer to set up an estate plan?

– Who will provide them with financial support to continue living independently?

–  Will your parents agree to move in with you for health and financial reasons?

– Who is the designated family member to discuss a parent’s personal affairs with key professionals, such as doctors, financial representatives and Medicare officials?

– Do others, perhaps family members, owe your parents money?  How is this to be handled?

–  Who has access to their important documents like bank statements, investments, vehicle titles, deeds and other important documenets?

Set a Plan of Action

Once you’ve reached the point where you can talk freely about finances, help your parents take action. Identify the sources of funds and draft a spending plan now and years into the future. For reference, the average cost of assisted living in Texas is over $4,500 / month and it is not going down. Below are some questions to help you get a clear view of your parents’ finances.

– Have you done an inventory of Assets vs Liabilities? What does that look like?

–   Have you done an assessment of Income vs Expense? What does their monthly expenditure look like?

-What are their financial gaps? And how do you plan to source the funds to close these gaps?

– When will your insurance policies mature? And how do you plan to spend the returns?

Review Healthcare Options

Ask your parents if they’ve thought about needing a greater level of healthcare in the future. It may be weighing on their minds. The sooner you can help them start planning for what may lie ahead, the better you’ll all sleep at night.

Become familiar with their health insurance and find out if their employee benefits package include access to a flexible spending account for health care or other financial or tax incentives they aren’t taking advantage of? There may be ways to help your parents save money on their current insurance plan. During the next open enrollment period, review all of the insurance options available with your parents.

Become familiar with Medicare and how it works.  Know Medicare’s deadlines and what supplemental insurance may be required.

Veterans Benefits

If your parent was in the military, learn about their benefits under the VA pension program. More than a third of Americans over the age of 65 are wartime veterans or are spouses of wartime vets. The Aid and Attendance pension under the VA program pays for long term care for senior veterans and their spouses – a significant financial lifeline in case of a health crisis.

Prepare to Offer Direct Financial Support

If your parent has exhausted all the available savings, insurance, employment, government benefits and other resources that could provide a financial cushion for the high cost of elder care, you should also consider giving direct financial support. Do everything you can to assist your parents financially while securing yours and your children’s future.

Consider a no-interest loan to your parents even if they don’t have the ability to pay it back. Just keep in mind you may never see the money again. Reach out to siblings and relatives about setting up a fund to support their financial needs.

Consider a Texas specific Power of Attorney

A Durable Power of Attorney in Texas is a legal document that authorizes you to act on your parent’s behalf on a broad range of business and personal matters, for example, handling personal finances.

An ordinary Power of Attorney expires if your parent becomes mentally incapacitated, while a Durable Power of Attorney ensures that you continue to have legal authority to make important decisions when your parent is unable to.

What’s Next?

It is essential to seek legal advice from those with experience in estate planning to draft your documents so that your loved ones do not have complicatons.  Understand that legally, your parents need to make the appointment and discuss their wishes with their legal representative.  You can’t get power of attorney over your parents, they must give it to you.  Legal discusses involving estate planning are privledged between the attorney and individuals.  If your parents choose to include you in the discussions with the attorney, that again, is their choice.  So be prepared for the attorney to point this out.

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These days, many singles are planning to marry and have children much later in life. This doesn’t mean that estate planning can be delayed. It is just as important for singles with no children to get started with estate planning early. Here’s why –

What Happens If I Die Intestate?

Dying “intestate” means passing away without leaving a Last Will. If you’re married with no kids, your estate will automatically pass to your surviving spouse. In Texas, the registered domestic partner may not be entitled to your estate when you die intestate. If you are single and suddenly die without leaving a Will, the court will distribute your assets and property to your nearest relative(s). These may be people you do not know or do not intend to leave your estate with.

How Do I Get Started With Estate Planning?

Now that you have an idea to whom you can bequeath your estate to in the absence of children or a spouse, you are ready to make your estate plan. Here are 5 simple (but not easy) initial tasks to set you on the right path: –

1. Identify the Executor of your Last Will and Testament

This person is at the top of the list because they will be responsible for enforcing your plans and your wishes once you have passed away. These plans include finalizing arrangements for the funeral service, up to the distribution and closing of your estate.

2. Identify Your Medical Power of Attorney

In case you have become incapacitated and can’t voice your wishes in a medical crisis, this person will execute your personal health care decisions, or make decisions on your behalf.

3. Identify Your Beneficiaries

These are the people or organizations that you want to bequeath your assets and property after your death

4. Identify a Guardian For Your Pets

It is also important to consider naming a guardian for your beloved pets who will be responsible for their care if you pass away.

5. Identify a Successor Trustee

If you’re setting up a trust, your Successor Trustee will manage your finances and the stewardship of your estate on behalf of a minor beneficiary until they come of age.

What’s Next?

After choosing the various parties in your estate plan, and informing them of your decisions, the next phase of estate planning is to draft the legal documents and get your affairs in order.  It is essential to seek legal advice from those with experience in estate planning to draft your documents so that your loved ones do not have complicatons.

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“I am writing of my will mineself that dam lawyir want he should have too much money, he ask too many answers about the family.  First thing I want I don’t want mine brother Oscar get a G    D     thing I got.  He is a mumser he done me out of forty dollars fourteen years since.

I want it that mine sister hilda get the North Sixtie Akers of at where I am homing it now, I bet she don’t get that gonoph husband of hers to brake twenty akers next plowing.  She can’t have it if she lets Oscar live on it, I want I should have it back if she does.

Tell Mamma that six hundret dollars she been looking for ten years is buried from the backhouse behind about ten feet down.  She better let little Frederich do the digging and count it when he come up.

Pastor Luchnitz can have three hundret dollars if he kisses the book he won’t preach no more dumhead talk about politiks, He should a roof put on the meeting house with and the elders should the bills look at.

Mamma should the rest get, but I want it so mine brother Adolph should tell here what not she should do so no more slick irishers sell her vakom cleaners.  They noise like hell and a broom don’t cost so much.

I want it that mine brother Adolph be my execter and I want it that the judge please make Adolph plenty bond put up and watch him like hell.  Adolph is a good bisness man but only a dumkopf would trust him with a busted pfennig.

I want dam sure that schliemiel Oscar don’t nothing get, tell Adolph he can have a hundret dollars if he proves judge, Oscar don’t nothing get.  That dam sure fix Oscar.

Signed: Herman Oberweiss”

Probating Mr. Oberweiss’ “will”, unfortunately, was difficult if not impossible because it has several problems.

To be a valid Will in Texas a Will must show testamentary intent.  However, Mr. Oberweiss states in paragraph two of his Will that “if she lets Oscar live on it, I want I should have it back if she does.”  This seems to indicate Mr. Oberweiss would still be alive.

Texas law also requires two witnesses subscribe their names to the Will in the testator’s presence.  Mr. Oberweiss’ Will lacks the signature of any witnesses.

Another problem area for Mr. Oberweiss is his failure to adequately identify his heirs.  Who are “Oscar”, “hilda”, “Mamma”, “Little Frederich” and “Adolph?”  They appear to be family but we do not have their last names and so identifying them is difficult.  For example, while Mr. Oberweiss is familiar with who “Mamma” is, we do not know from the Will.  Several “Mammas” could appear claiming to be the one referred to in the Will.

Mr. Oberweiss would like “Mamma” to get at least six hundred dollars, that she has been trying to find for ten years, however, we do not have an adequate description of where the money really is.  It is apparently buried behind what Mr. Oberweiss calls the “backhouse,” but where is the backhouse ?

Further, it is Mr. Oberweiss’ desire “helda” get the “North Sixtie Akers.” How do we know where the “North Sixtie Akers” is?  Apparently it is where he was “homing” at the time he wrote the Will.  But what does “homing” mean?  Where he lived is a good guess, but we really do not know that is what he meant.  What if Mr. Oberweiss was no longer “homing” the property he refers to when he died?   What then ?

It is clear Mr. Oberweiss belonged to a congregation led by a “pastor.”  While several denominations use this term, Mr. Oberweiss was obviously German and therefore would have probably been Lutheran or, possibly, Roman Catholic.  But would a member of either denomination (or several others who use the term “pastor”) have referred to his church as a “meeting house?”  Neither Lutherans nor Roman Catholics have “elders” at the congregational level.  Presbyterians do, and, on occasion, a Presbyterian minister is addressed as “pastor.”  But “meeting house?”  The term is commonly associated with the Society of Friends, who have no “pastors.”  Even more to the point, however – Mr. Oberweiss had a “pastor” and therefore could hardly have been Jewish.  Yet don’t you wonder why a well to do farmer of German descent, living in East Texas, would use Yiddish words of execration is speaking of Oscar and Hilda’s husband?

I must confess Herman Oberweiss, nor his family, really exist.  He was the creation of Will Sears.  Mr. Sears was an attorney in Houston who created Herman Oberweiss’ Will for a Law School Banquet.  Mr. Sears passed away in December of 1990.  This was one of my father’s favorite articles, so thinking of him recently, I decided to publish it again.

While Herman Oberweiss does not exist, this Will does afford me the opportunity to caution you on the hazards of writing your own Will using a form from the Internet or Do-It-Yourself Will kit.  I know things are a bit scary right now and you may think a homemade Will is your only option, so did Herman, but in the long run the goal of a Will is to make sure your last wishes are accomplished.  Hiring an attorney to write your Will can help you ensure that the technical formalities of Texas law are followed and that your gifts are clear and easily understood.  While a professionally prepared Will may not get electricity run to Aunt Pearl’s casket or make all of the deceased loved one’s family members happy, it will help insure that the true wishes of the decedent are carried out.  THAT will damn sure fix Oscar.

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Your Estate Planning Checklist for the Fall:

1. Draft or Review your Last Will and Testament and/or Trust

The first step on your fall estate planning checklist is to review your will. If you do not have a Will, it is time to draft a Will. Every adult can benefit from a clear, professionally-drafted Will. You should review your Will on a regular basis. You may also want to set up an alternative estate planning vehicle, such as a living trust. Living trusts (and other types of trusts) are an effective estate planning tool for many families, but may not be necessary in all cases.  If you have any questions about whether or not a trust is the right option for your family, an experienced estate planning attorney can help.

2. Make Sure Your Beneficiary Designations are Up to Date

It is imperative that you update your beneficiary designations on a regular basis. Properly assigned beneficiary designations allow for the smooth transferring of assets/property. Do you know who the beneficiaries are on your 401(k) or IRA account?  If not, check to make sure. In too many cases, people forget to update their beneficiaries to account for changing circumstances.

3. Review your Texas specific Power of Attorney (POA) and Health Care Documents

Estate planning is about more than just deciding who gets what.  Your estate plan should protect you in the event that you are traveling, severely injured, fall ill, or otherwise become incapacitated. Check to confirm that your plan provides adequate protection.  Texas has very specific power of attorney or other estate planning documents, you may want:

A statutory durable power of attorney;

A special power of attorney;

A health care power of attorney with a HIPAA Release.

A declaration of guardian

A directive to physicians and family

A disposition of remains document

4. Check Your Life Insurance Coverage

Dealing with the loss of a loved one is never easy—especially when it is unexpected.  Life insurance is a valuable resource. It will provide your family members with much needed financial support in their time of need.  If you have dependents, you can benefit from the protection provided by life insurance. Make sure you review your coverage to ensure it meets your family’s needs.

If you’d like to learn more about naming guardians and estate planning, call an experienced estate planning attorney to schedule a time for us to sit down and talk. 

The post Fall Estate Planning Checklist appeared first on Moak & Moak, P.C. -Attorneys At Law.

The statistics are staggering: most parents do not have Wills or other documents naming guardians for their children if something happens to the parents. Fewer than 50-75% of parents have named guardians for their minor children.

Why? One reason is likely lack of knowledge – some parents might understand that a Will is the traditional place to name guardians for children (and the thought of planning for death doesn’t thrill them), but haven’t considered that a Will only applies at death. With medical advances that keep people alive longer, it is more likely that an accident or illness will result in an individual’s incapacity, not death. A stand-alone guardian nomination is an additional document that addresses this modern reality by naming guardians for children whenever the parents are “unavailable,” whether by short-term, long-term or indefinite incapacity, or by death.

Another common reason parents do not do designate guardians for their children is that they might think “Well, I just assumed my kids would be with my mother,” or “Wouldn’t my kids automatically go to my brother?” Assuming that a certain family member would take over automatically might work if there are no other blood  relatives of either parent, or both parents’ extended families never disagree.  If that is not the case, however, you don’t want to take a chance on leaving your children in the middle of a dispute (litigation) about whom can best care for them.

The biggest reason parents do not  designate guardians for their children is that “no one feels right” to take their place. They start going through the obvious options and think, “this person isn’t perfect because A, that person isn’t perfect because B,” and so on. Or, in discussing the trade-offs, the spouses disagree on who to name.

First, think of people – there is no rule that guardians must be relatives – that are capable of fulfilling the role.  For a guardian, start with people that have the health, stamina, and patience necessary to care for your children. An older grandparent who is slightly physically impaired (e.g., uses a cane) could work for one mild-mannered 15 year old, but probably not for rambunctious two year old twins.  If your child is very involved in his school, sports, community activities, and/or religious organization and moving to where your sister (in-law) and family live would be an additional trauma for him, the family of his best friend might be a better choice if their child-rearing values are similar to yours.

Second, think about what you value most for your children – Family? Location? Religious observance? Lifestyle? Then, evaluate which people on the list best embody what you value most for your children.  If you are truly stuck, think of the worst person who could be named by a court to take care of your children. Thinking about who you don’t want, and why, can help you articulate what you do want.

Lastly, realize no one is going to be able to “take your place”.  In fact, the kind of planning we do keeps you in your place by providing instructions and guidance about what you want for your kids to the guardians, to the trustees managing how your money is spent on your kids’ behalf, and directly to your kids. By planning, you will be able to provide guidance to a less than ideal individual – a much better situation than having no plan and possibly family arguments or even foster care.

If you are part of the minority who has done their planning but it’s been some time since your documents were put in place, are the people still right?  Or have situations changed caused by marriage, separation, divorce, births, deaths, change in location, level of trust, type of relationship, etc.? If so, does it affect their ability to serve in the role for which you have named them?

As a lawyer my job is to give counsel to  clients on the choices the client has based on the law and the client’s circumstances.  If you are having a hard time deciding who to name as guardian for your children, or any of your other fiduciaries (trustee, health care power of attorney), I can counsel you.  Moreover, as a third party I can help spouses bridge their differences about who is the right person to be named guardian of their children.

If you’d like to learn more about naming guardians and estate planning, call our office today to schedule a time for us to sit down and talk.

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This week’s column is not a cautionary tale about a family who put off their planning and regretted it, this week’s column is about the peace and relief that forethought and planning brings not just to your family, but to you as the person making the plan.

In a recent article in Market Watch, Chuck Jaffe tells the moving story of his brother Rob, who insisted 2 years ago on creating an estate plan even though he and his wife were both healthy. As Jaffe puts it, “While not pleasant subject matter, it was not morbid… you’d rather be drinking lemonade on the veranda, but it wasn’t a sharp stick in the eye.” However, when Rob became unexpectedly ill in May of last year the estate plan turned out to be a comfort to Rob and his family—such a comfort, according to Jaffe, that Rob “made me [Chuck] promise that I would write about him… when his time was up, because his story would help others.”

“People need to understand… how big a blessing it is to know — when their time comes — that they have everything in order, that they don’t need to stress or worry about how things they worked their whole life for are going to turn out. I would not want to waste a minute of my life now having to do estate planning or worrying that I live long enough to get documents filed or whatever garbage comes with it. Focusing on death and dying while you are living, that’s easy; having to focus on death when you are dying, that would be unimaginable.”

In my business I frequently see how much easier it is for people to create a plan when they’re healthy, as opposed to the stress that comes with creating a plan when they are sick. Thank you Mr. Jaffe for sharing your brother’s moving story. I hope that your (and your brother’s) words will help motivate others to take comfort in planning ahead.

If your family has been putting off the necessary discussion of estate planning, I hope Mr. Jaffe’s story motivates you to work on it.   When you’re ready, call our office. We can help your family with the practical details and legal aspect of creating your estate plan and you’ll have the comfort of knowing it is done correctly and will work when the time comes.

The post The Comfort That Comes With Planning Ahead appeared first on Moak & Moak, P.C. -Attorneys At Law.

I am not talking about the diet you vowed to follow in your New Year’s Resolution, or trying to look good in that new bathing suit this summer; what I am talking about is your annual checkup—taking stock of your health with your primary care physician and making sure you are both on the same page with your instructions for health care and your advanced healthcare directive or living will.

When clients come into our office for an estate plan, we ensure that their healthcare instructions are completed as well.  But the job doesn’t end when the document is signed. We tell our clients their health care providers need to be aware of their wishes as well. The best way to ensure that they know and understand your wishes is to take a copy of your advanced healthcare directive or living will with you to your next check up and talk to your physician about it, then ask them to keep the copy on file.

A rule of thumb with healthcare wishes is to give a copy of your Medical Power of Attorney and your Directive to Physicians and Family to each of your primary care physicians, give copies to each of the healthcare agents you’ve nominated, AND keep a copy or two on file to take with you if you ever need to go to the hospital. Of course, keep the signed original in a safe place with the rest of your estate planning documents.

If you have a question regarding Elder Law, Estate Planning, Living Trusts or Probate in the Huntsville area, please contact us at 936-295-6394 or visit our website.  Call today and we will connect you with an experienced Elder Law and Probate Attorney.  We can schedule you a face to face appointment to discuss your circumstances. If you have questions or are considering any aspect of your estate plan, probate, or your health care directives, etc. we can help!  We look forward to hearing from you and assisting you with any and all elder law and estate planning needs.

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