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It is so easy these days from the comfort of our homes to be able to learn all about our ancestry and to be able to take DNA tests to learn about our family history. Technology sure has come a long way and is providing us with information from the comfort of our own homes that we never had seen before. It is essential, now more than ever, to make sure that our estate planning documents are up to date and also are done appropriately and properly.
Nowadays, it is easier to track down a parent that you never knew existed and just learned about, whether were adopted or simply just lost contact or were estranged from that person. Or there could be a situation where someone does not know that they had a child and years later it may come to light that they are a father because of the technology and ability to learn this information from the comfort of your home. This will certainly change outcomes in the future of who is entitled to certain assets and who may have standing and different circumstances.
It will be interesting to see how this fleshes out over the next 20 or 30 years, but one thing is for certain – it is more important now than ever to make sure that your estate planning is up to date. It will be important to have them done correctly and make sure that all of your i’s are dotted and t’s are crossed to ensure that someone can’t come in later who is unknown or unexpected and have rights. And especially important to have your documents prepared and not rely on the intestate laws of Pennsylvania to determine your beneficiaries.
Technology certainly has and will change estate planning in the future, and we look forward to seeing how it does, but in the meantime, we will certainly plan accordingly and make sure that our documents are up to date and properly drafted for any unexpected mishaps.
If you would like to learn more about this, please give us a call at 717-844-9218.
The short answer is no, they are not the same. A DNR stands for a DO NOT RESUSCITATE order. A Living Will is a completely different document that is used during a very different time.A DNR should be entered into at your doctors office or in the hospital, not at your local estate planning and elder law attorneys office.Typical estate planning documents that an attorney will assist you with would include a financial and medical power of attorney as well as a Last Will and Testament and maybe a Trust of some type. The confusion often lies in the fact that in a medical power of attorney, you will often see a Living Will as a part of the document.This is collectively known as an Advance Healthcare Directive if medical power of attorney and living will are together in one document. The Living Will does not kick in until the individual is end-stage medical. While there is a very long medical definition for this term, I simply like to state it as when two qualified physicians put in writing that there is no realistic hope of recovery and that you will always remain vegetative, comatose, permanently unconscious, and terminally ill. A medical power of attorney, living will, or advanced health care directive are often documents that are obtained from your estate planning and elder law attorney and not from your health care provider.On the other hand, a DNR or DO NOT RESUSCITATE order is intended to let emergency and other medical professionals know whether or not they should resuscitate you. Methods often used for resuscitation would be things such as defibrillators, breathing tubes, ventilators, CPR, and other invasive techniques.The DO NOT RESUSCITATE order comes into play when the heart has stopped beating or the person has stopped breathing. The medical power of attorney, on the other hand, comes into play when the person simply cannot answer questions for themselves. That could be for numerous other reasons, such as being under sedation or incapacitated, unconscious due to an accident, or unable to speak.Certainly, it does not necessarily mean that the heart has stopped beating or that you have stopped breathing. The Living Will does not kick in until the end of life, but the heart is often beating, sometimes due to heroic and lifesaving measures, but the DNR will prevent those heroics if that is your wish.We truly believe that it is imperative for you to talk to your estate planning and elder law attorney about the estate planning documents as outlined above as well as discuss with your doctor about a DNR order. While you are discussing the DNR order, we would also recommend that you have a conversation with your healthcare professional about a POLST (Physicians Order of Life-Sustaining Treatment). These are documents that will be obtained directly from your doctor and they will be able to assist you with the nuances of how they work.We hope this article provided insight into the definition of a DO NOT RESUSCITATE order and the difference between a medical power of attorney and a Living Will. If you would like further information about these items, contact our office. Wed be more than happy to assist you. Call us at (717) 845-5390.
It is very easy with everything that is going on in our country and our world right now, to be concerned about the pandemic and start to think about your own mortality and planning. While we recommend planning at all times to always be prepared ahead of time, this certainly provides a reminder for us to stop and take a look at our current situation to make sure that we have at least our basics in place. Powers of AttorneyEach person should have a financial power of attorney that authorizes another individual to make financial decisions on their behalf in case they cannot. They could be unable to because of an illness or an incapacitation or simply just not in town, or maybe they are traveling out of the country. We cannot stress the importance of having a financial power of attorney in place to avoid the necessity for guardianship. We have discussed in detail in other blogs and articles about powers of attorney and guardianships, and we would encourage you to please take a further look at those, and why it would become important to have a financial power of attorney in place.A medical power of attorney is an essential document that authorizes another individual to make medical decisions on your behalf if you are not capable or able to make those medical decisions for yourself. Although there is a healthcare statute in the state of Pennsylvania that will name the next of kin to be able to make those healthcare decisions in case you cannot, we stress the importance enough of having this document in place to ensure that the people that you want making those decisions can make them without unintended people being named as well. When you reach the end-of-life stage it's also important that you have in place a living will. If the living will is coupled in one single document with a medical power of attorney, that is also considered an advanced healthcare directive. We recommend having these documents in place to ease the burden on your family. This will save them from having to make those end-of-life decisions if two qualified physicians put in writing that there is no realistic hope of recovery that you will always remain end-stage medical or vegetative, comatose, permanently unconscious, or terminally ill. There is certainly a lot that goes into the medical definition, but plainly stated, it is imperative to decide for yourself how you would like those decisions to be made rather than to put the burden on a loved one to feel like they have to play God or pull the plug on their family member. Review Your Current Documents, Including Beneficiaries, to Ensure They Meet Your Needs and Desires We encourage anyone who has planning in place to not assume that it is up to date or that it is what their current wishes are, things change over time. It is also important to review all of your beneficiary designations on accounts, such as life insurance policies, annuities, retirement accounts, etc. Often, the most overlooked item is reviewing the beneficiary designations of an account, and it is probably the most critical thing that can screw up an estate plan. Please make it a priority to review your documents to make sure they accurately reflect your wishes. If you have questions or need to make some changes we would be more than happy to see you at one of our workshops to discuss the different documents and how they can assist you and your family. We certainly understand if there is any anxiety or stress that you are experiencing but encourage you to be prepared no matter what, which will give you a sense of comfort and security. If you would like further information about this topic or to learn more about our firm, please visit us at www.bellomoassociates.com or call the office at 717-845-5390.
Oftentimes, the death of a loved one is the hardest thing that any of us will endure. Not only did we lose the individual physically and emotionally, but in certain instances the financial impact can also be great. We are often asked in our firm what needs to occur after death, and we have provided other blogs and articles specific to that situation. This blog generically gives direction on how you can get access to the benefits and assets of your loved one. Jointly owned assets: These are the easiest assets to gain access to because the spouse or child is already a joint owner and simply needs to notify the financial institution or company that they are the surviving spouse or joint owner. You may need to provide a death certificate to take the deceased loved ones name off of the account. Also, be sure to check the taxpayer identification number associated with the account, which may need to be changed to that of the surviving joint owner. Assets that name a beneficiary:These are also fairly straightforward assets for a beneficiary to be able to obtain because they merely need to contact the company if they were named as a beneficiary on an account such as life insurance, an annuity, or other product that has a beneficiary listed. These also include accounts that have individuals named as an in-trust-for-beneficiary, a transfer-on-death beneficiary, or a payable-on-death beneficiary. They are all fancy terms, but ultimately if the beneficiary is named, they will be able to fill out some paperwork and will receive those assets fairly promptly with not a lot of problems or delays. Veterans benefits:If the individual who passed away was a veteran, there may be additional monies and funds that may be payable to the spouse. In some cases, benefits can even transfer to children. The benefits themselves are not difficult to receive, but the Veterans Administration has very particular and specific requirements that must be met for eligibility. An experienced attorney can assist with and provide guidance in this area. Social Security benefits: Social security benefits, including death and monthly survivor benefits, can also be claimed after the death of a loved one and will go to a surviving spouse or potentially to dependent children. The benefits themselves are not difficult to obtain, but it is essential that you meet the strict eligibility requirements. Survivor benefits must be immediately requested because they are not retroactive if they are claimed after a certain amount of time. The Social Security death benefit is only payable to a spouse and not to children. These are simple steps that you can take to be able to receive assets and benefits that are available to you upon the death of a loved one. If none of these above apply because the asset was in the individual's name alone without a beneficiary, it will be essential for you to seek the advice of a qualified attorney who will be able to help you through the probate process. We hope that this blog has assisted in understanding different benefits and how a spouse can obtain them easily. If you have any further questions or would like to get additional information, please reach out to our office at 717-220-8312 or check us out on the web at www.bellomoassociates.com.
We Educate so what happened to the Bellomo Family doesn't happen to yours!Our firms mission is to ensure that you and your family never needlessly, painfully suffer. Every team member has a personal story that has brought us here to advocate for you and your family. We want to replace your burden with peace of mind. We have the answers, but more important, we have your back.Bellomo & Associates, LLC advises Individuals and families, business owners, senior citizens, and their families about the estate planning and elder law challenges facing them today. For seniors and their families facing the issues of aging, or for those of any age who wish to protect their familys financial future, we counsel clients and provide solutions on Asset Protection; Specials Needs Trusts; Wills; Trust Design; Medicaid; Estate Planning; Nursing Home Matters; and Estate Administration. For our clients who own businesses, our team assists them with succession planning for their business in conjunction with their estate planning. We have office locations in York, PA, and Lancaster, PA.We offer FREE workshops! Our workshops are fun and entertaining ways to learn! We provide you with the information to decide what is right for you. If after attending, you decide we arent the right fit no problem! Youll never feel any pressure from our team.