Agreeing to serve as the executor of an estate is like taking on another part-time job in addition to whatever work you do and your responsibilities for your family. The testator whose estate you handle will likely have made arrangements to compensate you with some property from the estate, but such reimbursements are often a pittance compared to the amount of work involved.
When you take on the responsibility of carrying out someone else's estate plan, you take on some risk as well. There are a few important steps you can take to minimize your financial and legal vulnerability as an executor.
Secure and inventory property as soon as is reasonably possible
When someone dies, family members may try to take certain assets out of the home before estate administration begins. Jewelry, deeds and family heirlooms are all at risk of misappropriation before you even begin your job.
To avoid accusations that you took any property and to protect as many assets as possible for the beneficiaries of the estate, you should secure the property and inventory it as soon as you have the authority to take such actions.
Handle all the financial liabilities before handing out property
One of the biggest risks an executor has is personal accountability for certain unpaid taxes and debts. You don't have to repay everything that the deceased individual would not have repaid with their own assets.
However, any property that you distribute before taking care of outstanding financial responsibilities could be held against you later.
Document everything that you do
Did you call the electrical company and get the bill put in the name of the estates trust? Keep a note about that. Did you pay the mortgage for the month? You want to retain the statement and voided checks that prove you have handled financial responsibilities for the estate.
It's also crucial to maintain records about any assets to distribute, both to creditors and to beneficiaries or family members. Having each family member sign a receipt or documents affirming that they received specific property will protect you from claims that you didnt give people their inheritance or otherwise mismanaged the assets in an estate. The more documentation you have about the actions you take, the easier it will be for you to push back against claims of incompetence or misconduct.
Learning about the risks involved in estate administration can protect you from mistakes that could cost you money or your role as executor.
What Are Elder Law and Special Needs Planning?Elder law and special needs planning involve preparing for expected and unexpected life circumstances, including the possibility of becoming incapacitated as well as protecting and providing for future needs of loved ones with disabilities.At its core, Elder Law focuses on the unique needs of older persons and practice areas that address issues of concern for aging adults, adults with disabilities/incapacity, their families and caregivers. Unlike traditional estate planning, Elder Law begins by assisting you with issues associated with a long and healthy life, rather than simply planning for death. It mixes legal and practical issues such as being able to continue residing in your home if you had a chronic condition, having someone help in managing your finances, and not becoming a victim of financial abuse in the process. Elder law endeavors to help you solve the problem of not knowing what you dont know.Special Needs Law focuses on solving legal problems for individuals with special needs and their caregivers. Although there is no uniform definition of special needs, the phrase describes individuals with a wide variety of physical or mental conditions who require assistance with personal care needs, activities of daily living, paying bills, managing finances, etc., who may be vulnerable to and need protection from exploitation or abuse, and who may need access to public benefits or any number of other types of assistance. If you currently provide care for a child or loved one with special needs (such as mental or physical disabilities), you must have contemplated what may happen to him or her when you are no longer able to serve as the caregiver. Frequently, parents and grandparents are concerned about how their children and grandchildren will be cared for after the parents or grandparents deaths and want to plan in advance to protect their special needs loved one. Elder Law and Special Needs Planning encompass many different fields of law, including, for example: Disability planning, durable powers of attorney, living trusts, advance directives, other tools to delegate management and decision-making to another in case of incompetency or incapacity Estate planning, including the management of finances and assets during life and disposition on death using trusts, wills, and other instruments Special/Supplemental Needs Trusts Conservatorships and guardianships Long-term care planning and placements Trust and probate/estate administration Elder abuse and financial exploitation Medicaid planning Retirement and Social Security planningWhen each day seems to present a new challenge, thinking about the future can be overwhelming. A plan can help break things down into achievable pieces. No matter what age or stage, it is getting started that counts.This article is for informational purposes only and is not intended to be legal advice.This article was submitted by Ashley Day, Esq., A Day Law, LLC. Reach her at 251-277-3377.
When it comes to caring for an older person, someone leaving hospital, or someone who has a disability, it can be difficult to know what resources are available to you. You may wonder if your loved one needs to enter a rehab facility, hospital, or nursing home or if they are eligible for home care services, allowing them to stay in familiar and comfortable surroundings.At ComForCare, we offer a range of flexible home care services to meet the needs of many people who could use a helping hand. If youre interested in learning whether home care could be right for your family, read on for some of the many ways we offer support in the home.In-Home Senior CareHome Care is a service that provides support for the day-to-day activities of living. Older adults who need a helping hand to stay on top of household duties, personal care, meal preparation, and similar activities are great candidates for home care services. An in-home caregiver can help older adults maintain their independence in the comfort and safety of a familiar space. Nearly 90% of adults over 65 want to age in place, staying in their homes and communities as long as possible. With in-home elderly care services, that dream can be a reality for many.Transitional CareWhen a loved one is moving from a hospital, rehabilitation center, or skilled nursing facility to home, providing a safe transition is crucial. Seniors are at an elevated risk of hospital readmission and other hazards after hospitalization. In fact, people ages 65 and over account for about 56% of 30-day readmissions after discharge from care facilities. Transitional care, otherwise known as short-term services, can help support seniors during this critical time. ComForCares professional caregivers are advocates for their clients health, and they can:Assist with personal care, such as bathing and groomingHelp implement discharge instructions from doctorsPick up prescriptions and provide medication remindersHelp schedule and attend follow-up medical appointmentsReduce fall and injury risks with home safety recommendationsRespite Care & Short-Term CareSometimes, older adults who live at home receive the care they need from family members. While this arrangement can be wonderful, it can also be taxing on their loved ones. Up to 35% of family caregivers rate their health as fair or poor, which can lead to burnout. To ensure that you are providing the best possible care for your family member, you need time to take care of yourself! Thats where respite and short-term care come in. Hiring a professional caregiver temporarily can give you the time you need to recharge, refresh, and resetwhether for a weeks vacation or just a weekend break. This service can also help provide a fresh perspective so you dont have to feel alone in the care and keeping of your loved one.Disability ManagementThough in-home care is most often associated with seniors, many adults with disabilities also need compassionate, hands-on care. Whether your loved ones disabilities are physical or cognitive, institutions cant always provide the kind of personalized one-on-one care that your family member needs.Advocates and researchers have seen the positive impact that home and community-based services make in the lives of people with disabilities. At ComForCare, our disability management services can help make that difference in your family members life. We provide care services including, but not limited to:Light housekeepingHelp with hygiene and incontinence careMeal preparationTransportation assistanceAlzheimer's and Dementia CareMany people believe that once an older person is diagnosed with Alzheimer's disease or another form of dementia, they cant live at home anymore. However, with ComForCares unique approach, DementiaWise, we can give older adults the freedom to remain at home as long as possible. With flexible scheduling, personalized care, and meaningful activities that keep your loved one engaged, calm, happy and utilizing their remaining abilities, you can rest assured that your family member is living their best life, physically and mentally.Find the Best Home Care ServiceNow that you know who a good candidate for home care services is, its time to find the best team to look after your loved one. At ComForCare, we continually strive to provide the most compassionate, consistent and competent care to those who need it. With flexible care options suited to each individuals needs, well care for your loved one like family. ComForCare: Long or Short-Term Home Care with Joy and Dignity. If you have any questions, please call 720-575-5576.
When it comes time for your parent to get more assistance at home with cleaning, personal care, cooking, etc., you might be met with some resistance, which can be frustrating. There are usually two main reasons older adults dont want extra help. Caregiving (in-home care) services may be perceived as a transition from the known to the unknown. Your parent could see this transition as irreversible; caregiving will happen whether they are ready or not and that their abilities will quickly decline until they are entirely dependent on someone else. These feelings can be overwhelming. As the adult child or caregiver, how can you inspire them to accept help? Frame caregiving services as a trial; convey that if they dont like it, they can try a different caregiver or try something else. Emphasize this and repeat it often. Continue to encourage your parent that they can remain as independent as possible if they have in-home care. Another approach is to compromise: instead of eight hours of caregiving services each day, try a few hours a week. The second major reason is that many seniors dont feel the need to fritter their life savings away on expensive care options, while the adult child feels that in-home care is the best use of their savings. Explain that their savings and caregiving services are to ensure good quality of life and dignity as they age. Those saved dollars, in other words, are fulfilling their intended purpose. How to Become Your Parents CaregiverThere may be times where you need to step in as your parents caregiver. Planning, communication and inclusion are key to making the transition easier. When forming a plan for caregiving, try to stick to your loved ones current routine to ease them into the adjustment. Dont forget to communicate the plan, and its occasional required deviation, often and openly. Always include your parent, provide options and choices, and allow them to make the final decision if possible. The golden rule is to be involved only in ways that enhance and enable your parent to preserve their remaining abilities and intervene only in ways that provide support as they lose abilities. For example, if your older loved one finds walking difficult, instead of bringing everything to them, add accessibility options such as handrails and encourage exercise and fall prevention strategies to strengthen their muscles and balance. As your parent ages, you may need to increase your duties as their primary caregiver. You may need to gauge your own comfort level with certain tasks, as well as your overall burnout level. For example, you may not feel comfortable helping your parent with showering. This is where professional respite care comes in. This allows you to retain the position as the primary caregiver and receive help from a home care company. Respite care is most effective when used to unburden the adult child; removing tasks and worries so you can focus on the special moments and deepen the connection you have with your loved one. Getting your parent to accept care is achievable with proper expectation setting, giving them choices, and keeping them involved in the decisions as you go. If you have questions about home care, please review our Resources page or call with any questions 970-575-5576. Our goal is to help seniors and their families live their best lives possible.
We are a client-focused elder law and estate planning firm serving all of Colorado. Our attorneys provide the highest quality legal services and professionalism, while representing our clients in a cost-effective manner. Meeting the needs of our elder law clients depends on moving beyond conventional legal work to offering practical assistance in planning, counseling, educating, and advocating for the senior or disabled client and their families. Call Toll Free 1-866-873-6596.
We are a client-focused elder law and estate planning firm serving all of Colorado. Our attorneys provide the highest quality legal services and professionalism, while representing our clients in a cost-effective manner. Meeting the needs of our elder law clients depends on moving beyond conventional legal work to offering practical assistance in planning, counseling, educating, and advocating for the senior or disabled client and their families. Call Toll Free 1-866-873-6596.
We are a client-focused elder law and estate planning firm serving all of Colorado. Our attorneys provide the highest quality legal services and professionalism, while representing our clients in a cost-effective manner. Meeting the needs of our elder law clients depends on moving beyond conventional legal work to offering practical assistance in planning, counseling, educating, and advocating for the senior or disabled client and their families. Call Toll Free 1-866-873-6596.