The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?
Incapacity Planning in Missouri from Charlie Amen The term "incapacitated person" as used in this chapter includes the term partially incapacitated person unless otherwise specified or apparent from the context. Learn more about the incapacity planning in St. Louis, Missouri in this presentation. … [Read more...] about Incapacity Planning in Missouri
If you are one of the millions of Americans who does not have an incapacity plan in place now is a good time to change that. In St. Louis, Missouri, people without a plan offer a variety of explanations for why they have yet to create a plan. Typically, the reasons boil down to one of three – no need for one, no money to create one, no desire to consider the possibility of incapacity. If you don’t have an incapacity plan in place, consider the top five reasons why you need one. To protect … [Read more...] about Top Five Reasons Why You Need an Incapacity Plan in St. Louis
People have a number of misconceptions about the Medicaid program. Because you, or someone you love, may someday need benefits provided by the program it pays to clear up those misconceptions now. Medicaid is a healthcare program that is predominantly funded by the federal government but is administered by the individual states. Medicaid should not be confused with Medicare. Medicare is also a federally funded healthcare program but Medicare is administered by the federal government, not by the … [Read more...] about What Is Medicaid in St Louis Missouri?
A comprehensive estate plan should cover more than simply the division of assets upon death. One of the most common editions to an estate plan is an incapacity plan. Unfortunately, most people relate the concept of incapacity to old age and diseases such as Alzheimer's. While it is true that you are more likely to become incapacitated as you age, the reality is that a tragic accident or terminal illness could lead to your incapacity at any time. It is for this reason that incapacity planning is … [Read more...] about How Does the Law Define Incapacity in Missouri?
The life expectancy of the average American has increased over 20 years in the last century. This means that we are expected to live longer and chances are our parents and other older relatives will live longer as well. Overall, this is certainly good news; however, the reality is that living longer also increases the likelihood of suffering from an age-related dementia disease such as Alzheimer's. If you have a parent, or other elderly relative, who you believe has reached a point at which he … [Read more...] about How to File for Guardianship in St. Louis Missouri
When most people think of incapacity they envision someone in their golden years who is suffering from an age related dementia disease such as Alzheimer's. This is certainly one way that you could become incapacitated during your lifetime; however, it is not the only way. In fact, incapacity can strike anyone, at any time. Because you have likely not given the possibility of incapacity much thought you have probably also not considered who will make decisions if you are incapacitated. Once you … [Read more...] about Incapacity Plan in St. Louis MO: Who Makes Decisions If You Are Incapacitated?
Understandably, most people don’t want to think about the possibility of becoming incapacitated, particularly at a young age. It can happen, and if it does someone will have to manage your money. Whether or not you decide who will manage your money depends on whether or not you take the time to plan ahead. Many people make the mistake of assuming that a spouse, child or parent will be legally allowed access to their assets in the event of incapacity simply because of the relationship. This is … [Read more...] about If You Become Incapacitated, Who Will Manage Your Money?
A revocable trust is a type of inter-vivos, or living, trust. An irrevocable trust is the other living trust option. If you are considering the use of a revocable trust as part of your estate plan, you should have a basic understanding of the benefits, and limitations, of a revocable trust. One way that a revocable living trust can be useful as part of an estate plan is as an incapacity planning tool. When you create a revocable trust, you must name a trustee, at least one beneficiary and … [Read more...] about Revocable Living Trust and Incapacity Planning
Alzheimer’s disease is a progressive disease that slowly destroys memory and thinking skills of the sufferer. Currently, it is believed that over five million Americans suffer from the disease with 600 more diagnosed each day. As we age, the risk of being diagnosed with Alzheimer’s increased exponentially. In fact, your chance of being diagnosed with Alzheimer’s almost doubles every five years as you age.To some degree, most of us worry about having Alzheimer’s, but what about the consequences … [Read more...] about Legal Concerns When Your Spouse Develops Alzheimer’s