Living probate is the guardianship process that will take place if you become incapacitated and you do not have a legal document called a power of attorney.  Your loved ones will have to go to court in order to manage your healthcare and to gain access to your money.  Living probate is the court proceeding designed to protect the mentally disabled.  What happens during the guardianship proceeding?  It begins with the filing of a Petition.  The Petition states the facts and circumstances of your situation.  Family member’s names, addresses and phone numbers are included, as well as details of your assets, such as your home, your bank accounts, your retirement accounts and your sources of income.  Attached to the Petition are two letters from your physicians stating that you are unable to manage your financial affairs and make your own health care decisions.

After the Petition is filed with the Circuit Court, a show cause order is issued.  An attorney is appointed to represent the alleged disabled person.  The Petitioner mails a copy of the Petition and letters from the doctors to all interested parties – usually your family members, the local Department of Social Services and the Social Security Administrator.  The court appointed attorney then files an answer to the Petition and presents the court with a report.  The attorney will talk to the interested parties and meet with the alleged disabled person.  The interested parties have 20 days to contest the proceeding.  The last step is a mandatory court hearing.  Often the court appointed attorney waives the alleged disabled person’s appearance in court.  The hearing is usually 10-15 minutes long.  The court appointed attorney will give their report to the Judge and if there are no issues and no one contests the proceeding, the Judge will grant the Order for Guardianship of the person and property.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

What is Living Probate? Attorney Nicole Livingston

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Don’t forget to tune in today to WNAV Radio on 1430 AM or 99.9 FM @ 3:50pm to listen to Your Estate Matters with Attorney Nicole Livingston.  The topic is What is Living Probate?

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Instead of the IRS, Probate Court or a Nursing Home. Attend a FREE SEMINAR to Find Out How a Proper Estate Plan Can Benefit Your Family…

…Seating is limited so follow the link to reserve yours today!

http://www.sinclairprosserlaw.com/local/estate-planning-seminars.aspx

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Knowing what your Healthcare Estate Planning Documents are and how they each play a vital role in the success of your plan is important.  In our firm we have a number of documents that we include in every estate planning package and there’s a very good reason for it.  You need each one.

I have heard before, “I have a Living Will, why do I need a Healthcare Power of Attorney?”  A Living Will or Advance Directive gives instructions to your physicians and healthcare agents as to how you want to be treated under three situations:  Terminal Condition, Persistent Vegetative State, and End-Stage Condition.

Terminal Condition means that you have a condition by which your death is imminent and even if life-sustaining procedures are used, there is no reasonable expectation of recovery.

Persistent Vegetative State means that you are not conscious and are not aware of your environment or able to interact with others and there is no reasonable expectation of recovery.

End-State Condition means that you have a condition caused by injury, disease or illness, as a result of which you have suffered severe and permanent deterioration, indicated by incompetence and complete physical dependency and for which to a reasonable degree of medical certainty, treatment of the irreversible condition would be medically ineffective.

Our firm’s Living Will also affords you the opportunity to decide who will be making your funeral arrangements and the ultimate disposition of your body.  It is important for you to put this information in writing, because you don’t want this to be left open for your family to squabble about.  You can also make an organ donation declaration in your Living Will.

So, what then does a Healthcare Power of Attorney do?  A healthcare Power of Attorney appoints someone, your agent, to step into your shoes when you are no longer able to make decisions regarding your healthcare.  This document can be used by your Agent to determine things like, what type of treatment you should receive, whether you should receive medication or rehab therapy, or which hospital you should go to.  This document will be utilized in all circumstances, not just in the 3 situations a Living Will covers.

Another important Estate Planning tool is to have a HIPAA authorization form.  HIPAA stands for Health Insurance Portability and Accountability Act, a law that protects private health insurance information.  This law makes it virtually impossible for your loved ones to obtain medical information or your medical records without your authorization.  This is all well and good when you’re in good health, but what happens if you become incapacitated and you have not signed the doctor’s HIPAA form?  Your loved ones may be out of luck.  This form will enable you to designate your healthcare agents and other family members as authorized persons to receive your medical information or records.

Finally, it is important to know that when you need your documents at a moment’s notice, they will be there.  In an emergency, sometimes it’s difficult to remember to grab your Living Will or Healthcare Power of Attorney.  Perhaps your loved one or Agent doesn’t want to have to go to your house to search for them, but wants to get to the hospital.  Our firm offers with every estate plan, a free one year enrollment in a service that will fax your healthcare documents to the hospital when you need them most.  As you can see, we’ve got every base covered.

The last thing your family needs during a time of crisis is an obstacle.  Make sure they have everything they need to make sure that your needs are met and they have the means to ensure that it happens.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Follow the link to listen to last nights broadcast of Your Estate Matters with Attorney Paula M. Mattson-Sarli.

Your Estate Matters – I have a Living Will. Why do I need a Health Care Power of Attorney?

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Don’t forget to tune in today to WNAV Radio on 1430 AM or 99.9 FM @ 3:50pm to listen to Your Estate Matters. Today’s topic “I have a Living Will. Why do I need a Health Care Power of Attorney?” with Attorney Paula M. Mattson-Sarli.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Instead of the IRS, Probate Court or a Nursing Home. Attend a FREE SEMINAR to Find Out How a Proper Estate Plan Can Benefit Your Family…

…Seating is limited so follow the link to reserve yours today!

http://www.sinclairprosserlaw.com/local/estate-planning-seminars.aspx

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Once you set up your estate plan you can put it aside, pat yourself on the back and congratulate yourself for accomplishing an important step in securing your financial future and the future of your loved ones.  However, every once in a while you will want to pull out your estate planning documents and review them.  My rule of thumb is to review your plan with your attorney every five years.  Some documents, like a power of attorney, should be re-executed to show your intent has not changed.

There are also life changing events that will require a review of your estate plan – such as divorce, the birth of a child, the death of a loved one, moving to another state, marriage, a change in assets and/or a change in your health.  Changes in the law may also affect your estate plan.

Regularly reviewing and updating your estate planning documents will provide your loved ones with a clear, up-to-date plan to carry out when you are unable to act for yourself.  And isn’t that why you prepared the plan in the first place?

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

While we know the act of giving is a very personal thing, gifting part of your estate to lower your estate taxes may be a good idea.  In Maryland gifting is a very powerful estate planning tool and the results can be rewarding.

Unlike the Federal Estate tax, when you transfer assets out of your Maryland estate, the asset is not brought back into your estate for Maryland estate tax purposes.  For example, if you have an estate of $1,500,000 and you gift $500,000 your Maryland estate is now $1,000,000.  Because the exclusion in Maryland is $1,000,000 your family will not owe any Maryland estate tax on your death.  If the sum had not been gifted and the estate at death was $1,500,000 your family will have to pay Maryland estate taxes on the $500,000 at the rate of 16% which results in much less going to your loved ones.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.