5 Facts About a Living Will For Medical Emergencies
You may already have a will set up for the end of your life, but have you considered you may need a living will? Living wills are legal documents that specify what to do in the event that you are seriously injured or sick and become unable to make decisions for yourself. These documents are sometimes referred to as an advance healthcare directive. Here are five key facts to understand how they work.
Naming Someone to Act on Your Behalf
You can use your living will to designate another person to make important decisions for you. Most people choose a spouse or another trusted family member. It’s also possible to designate a healthcare agent to make decisions about your medical treatments if you become unable to do so. Some people opt to give this person broader power of attorney to make any legal decisions on their behalf.
The Details of Your Healthcare
In your living will, you can specify various details regarding your healthcare treatment. For example, many people choose to add specific directives regarding pain management.
Talk to Your Doctor
You should always discuss your living will with your doctor. When your physician is aware of your arrangement ahead of time, he or she can make better decisions about your care in a medical emergency.
It’s Not Written in Stone
You can always change the information provided in your living will. However, you will need to make sure that you legally revoke the previous document in order for the new draft to be effective. Remember, it’s important to review your documents to make any relevant updates. Changes depend on your life circumstances.
Who Needs a Living Will?
Anyone can benefit from a living will. Many people think they’re too young to need one, but the unfortunate reality is that a medical emergency can strike at any time. It’s simply the best way to ensure your treatment preferences are honored.
Your Living Will
Although it’s unpleasant to think about medical emergencies, it’s important to prepare for anything so your family won’t be left to make difficult emotional decisions under pressure.
If you’re interested in setting up a living will in the Bay Area, contact Lewman Law at (925) 447-1250. We can help you protect your family.
Filed under Legal Services
What to Consider When Hiring a Probate Attorney
When someone close to you passes away, it’s not necessary to stay with the original attorney who created their will. You may decide to find a new attorney to finalize the legal process. Here are 3 things to consider when hiring a probate attorney.
Credentials: Do Some Digging
When you need a good attorney, it’s time to do some digging. Obviously, you want to hire an attorney with a solid background in probate cases, but also consider whether they have experience in other areas that may be relevant to your situation, like real property law.
You can search online to get a sense for a lawyer’s education and expertise, including law school and years in practice, as well as other biographical details. You may find articles written by the attorney, in addition to former client reviews. Client reviews are especially useful when hiring a probate attorney. Also, the State Bar Association has a website that can tell you if the attorney you’re considering is reputable.
A good attorney is certain to be busy, but if it’s a struggle to schedule an appointment, or receive timely responses, it’s best to take your business elsewhere. Another thing to pay attention to is how well the attorney listens, and whether or not they’re responsive to your concerns.
Choose an attorney who takes the time to explain things clearly. It’s important that you fully understand the legal process in order to make the best decisions. A good attorney will respect your efforts to educate yourself, and clarify things that confuse you. When hiring a probate attorney, jot down a list of questions so you don’t forget anything you wanted to ask.
It’s important that you’re comfortable with the attorney you hire. These points should help you with the screening process. Contact us at Lewman Law to find out if we’re the right fit for you.
Filed under Legal Services, Probate Tips
Money Mistakes People Make After the Death of a Spouse
Everyone handles loss in their own way, but there are some common money mistakes people make after the death of a spouse. The following are four suggestions to help your finances weather this vulnerable time.
Don’t Rush Important Decisions
Grief is powerful. It alters the way we think and can affect memory function, as well as our ability to focus. If major decisions can wait, it’s best to put them aside for a while. It’s okay to pause. Well-meaning friends and relatives will likely offer unsolicited advice, but now is not the time to be moving money around, unless it’s really necessary. Instead, allow yourself the space to process emotions.
Perhaps one of the most common money mistakes someone can make in this situation is to go on a spending spree. When a bereaved spouse attempts to move on or distract his or herself with retail therapy, or vacations, it can quickly lead to a downward financial spiral.
Money Mistakes on the Home Front
Sometimes a surviving spouse wants to hold on to the home they shared with their partner, and those memories they cherish there. But other times it may seem too painful not to sell right away. Maybe you no longer need as much space, or hope to relocate closer to family. All of those reasons are valid. Still, try to defer any major decisions for a few months.
Even considerations such as paying off the mortgage might sound responsible, but consider meeting with a financial planner to ensure you’re thinking clearly and won’t be strapped for cash down the road.
Review Your Finances and Estate Plan
When you feel up to reviewing your finances, revise a budget. Spending needs will be different with one less person in the house, and you might choose to make some lifestyle changes. If you weren’t responsible for handling financial decisions in the past, be certain you fully understand your investments, sources of income, and all expenses, to avoid money mistakes.
At this time, it’s also a good idea for the surviving spouse to review his or her own estate plan. Please contact us at Lewman Law for further information and assistance. Our office can be reached at (925) 447-1250.
Filed under Estate Planning Tips, Legal Services
Why You Don’t Want a Joint Will
Why You Don’t Want a Joint Will
If you’re married, a joint will probably seems like it makes the most sense. After all, married couples share everything. But a joint will may not truly be in the best interest of the surviving spouse, and some states don’t even recognize them.
The Downside of Joint Wills
The main concern with a joint will is that it can only be revised so long as both spouses are alive and in agreement. It’s a tightly binding contract. This is most likely to become an issue if one spouse greatly outlives the other and there are unforeseen circumstances that arise. In this case, the remaining spouse must contest the will through court action should they wish to make changes.
While once common, joint wills are now rarely recommended. Depending on the document, the surviving spouse may not be able to manage funds according to life changes. For example, they may not be able to sell the family home if they wish to relocate or downsize, or to help grandchildren with the cost of college.
Another reason joint wills can be problematic is if there are children from previous relationships, or the surviving spouse later remarries. Separate wills make it easier to sort out how assets are to be divided among beneficiaries. Another way to transfer wealth to children is to set up a trust, which may include any wishes or provisions.
Joint wills are more likely to lead to costly probate litigation, and it’s important for the remaining partner to be able to amend their estate plan in order to address unexpected life changes. Laws vary by state, which complicates things. For alternatives to a joint will, it’s best to seek legal advice.
If you have questions about creating or revising your current will, please contact us at Lewman Law.
Filed under Estate Planning Tips, Legal Services