When you’re no longer cognizant, who’s speaking on your behalf? To ensure autonomy in the face of incapacitation or death, you’ll want to find trusted legal representatives to speak on behalf of your financial and medical instructions and wishes. What do you wish to happen with your assets? Do you and for how long would you want to be kept alive in a vegetative state? Although these questions may be hard to face, they’re crucial to assuring you and your loved ones have answers going into the final days.

Consulting an Elder Law attorney is the first step to long term planning of medical needs and last testaments, along with financial oversight and protection of your assets. Elder Law attorneys specialize in addressing issues related to Power of Attorney, Advanced Directives, and Guardian and Conservatorships. All options address who will legally be designated as your alternative decision maker to carry out what you want to have happen to you and your things in the face of incapacitation or death.

Power of Attorney for Financial Management

Power of Attorney is a document that you and your attorney draft granting them legal authority over your finances and distribution of assets. This agreement designates that your attorney is someone you trust to manage your finances and lays out the scope of power you want them to have in doing that. As you become unable to make decisions on your own, a reliable POA will serve to best manage your bills, investments, and distribution of assets through wills and trusts when you pass away. In the case of your passing, the durable POA will have the legal authority to determine who gets what you leave behind.

If you find yourself no longer wanting to honor your current Power of Attorney agreement, you can revoke the document at any time as long as you’re still able to demonstrate substantial faculties and are aware of what’s going on.

Advanced Directive for Healthcare – Power of Attorney for Medical Needs, Living Wills

It’s equally vital to establish a legal Power of Attorney over your medical needs and desired outcomes related to your last will and testament. An example of a medical Power of Attorney would be an Advanced Directive, though the terms for these agreements may vary by state.

An Advanced Directive does two main things…

1. It names a healthcare representative to make decisions when you no longer can. This also comes with the naming of alternates, aka who else to call when someone can’t be reached in relation to your medical updates.
2. It includes instructions for your representative and doctors concerning what to do when you reach a certain level of medical decline.

As much as you want your documentation to represent all your wishes as you gradually pass away, end of life scenarios don’t always play out this way. Your health could decline rapidly over night, and you may not have fully discussed what exactly you want to occur in a state of incapacitation.

The question then presents itself: What/Who has authority between the Advanced Directive or your POA Representative to provide answers to questions you had not yet finalized? Do you want to have the plug pulled and when?

In approaching these final questions, your trusted POA will use whatever instructions they do have to provide guidance for a final determination. In assessing what you value and who you are as a person in your discussions and drafts, your representative will determine what decision seems best suited for you in the face of the unknown.

Guardianship and Conservatorship – What happens when you don’t have Power of Attorney?

In the case of an end of life or incapacitated situation without a Power of Attorney established, someone will have to go to court and report that you are unable to make decisions for yourself and the court will then have to name representatives for you.

This is where Guardianships and Conservatorships come into play. Guardians deal with your medical decisions and personhood. They figure out where you’re staying, and monitor your day to day functioning. A Conservator handles your finances, bank accounts, incomes and assets.

Plan Ahead for your End of Life Care – Why you want to avoid going to court

Having to go to court to establish Guardianships and Conservatorships can be an overwhelming hassle for whatever friends or family members have to represent you. This process will lead to expensive court dates and intense questions regarding your end of life wishes between those who may have differing opinions. Your spouse feels you want to have the plug pulled while your parents fight to keep you on the tubes – this is not an ideal scenario. And ultimately, these decisions are made by a judge who doesn’t even know you. Planning ahead can help you avoid a lot of residual stress for those you leave behind.

Trusted Powers of Attorneys over your medical and financial needs are crucial to assuring there are answers to end of life questions, and most importantly, they’re your answers. Consult an Elder Law professional and establish peace of mind for you and everyone involved.

Helpful Resources and Links

The National Academy of Elder Law Attorneys (NAELA) is dedicated to improving the quality of legal services provided to older adults and people with disabilities. Elder and special needs law includes helping such persons and their families with planning for incapacity and long-term care, Medicaid and Medicare coverage (including coverage of nursing home and home care), health and long-term care insurance, and health care decision-making. 

The post Power of Attorney, Guardianship and Conservatorship appeared first on CareAvailability.

Estate planning is a critical process for ensuring that one’s wishes are honored after passing. However, it’s fraught with potential pitfalls that can undermine its effectiveness. Understanding these common challenges is key to creating a robust and effective estate plan.

• 1. Poor Drafting and Infrequent Updates: A major factor undermining the effectiveness of many estate plans is the poor drafting or inadequate updating of documents. This neglect often leads to a failure in reflecting personal life changes or adapting to new legal statutes, compromising the relevance of the estate plan.

• 2. Reliance on Generic Templates: The use of generic online templates or standard documents is another critical issue. These resources might not be equipped to address the unique complexities and legal subtleties of an individual’s situation. This inadequacy can result in complications and the potential disregard of a person’s final wishes.

• 3. Relying on Advice from Non-Experts: Taking advice from family members or friends can be problematic. They might not fully understand the specific circumstances or the nuances of different state laws, leading to the creation of documents that are irrelevant or incorrect for the person’s situation and state.

• 4. Importance of Tailored Legal Advice: Given these challenges, the need for personalized legal advice and regular updates to estate planning documents is vital. This ensures that the documents stay effective and in alignment with the current legal and personal context.

• 5. Inadequate Designation of Executors: Estate plans are often flawed due to the inappropriate selection of individuals to manage the estate or the failure to appoint alternates if the primary choice is unavailable. This can lead to difficulties in the execution of the estate plan.

• 6. Lack of Clarity in Documentation: Attempts to create estate documents that are either overly specific and rigid or too broad and undefined can be detrimental. Such documents may fail to provide clear and actionable directions for carrying out the deceased’s intentions.

• 7. Conflicting Information and Assumptions: A common mistake is the presence of conflicting information, such as pay-on-death beneficiaries or joint property ownerships, with assumptions that other documents will distribute these assets. Without specific language, these assumptions often do not hold true.

• 8. Consequences of Inconsistent Planning: Inconsistent estate planning can lead to a chaotic situation, hurt feelings among beneficiaries, and ultimately, the failure to fulfill the deceased’s wishes.

Conclusion: The Path to Effective Estate Planning

To avoid these pitfalls, it’s crucial to approach estate planning with thoroughness and precision. Regular consultation with legal experts, careful consideration in document drafting, and an awareness of the specific legal requirements of one’s state are essential. By doing so, individuals can ensure that their estate plan accurately reflects their wishes and is capable of being executed smoothly, thereby safeguarding their legacy and providing peace of mind.

The post Common Shortcomings in Estate Planning appeared first on CareAvailability.

When seniors are considering downsizing, having an appropriate estate plan in place is crucial. This involves several key documents which are essential to ensure that their wishes are honored and their assets are managed and distributed according to their preferences.

Here are the primary documents that should be considered.

Will

This is the fundamental document in estate planning. It outlines how the individual wants their assets to be distributed after their death. It can also specify guardians for any minor children.

Trust

Trusts can be used for various purposes, such as avoiding probate, increased privacy, reducing estate taxes, or providing for a disabled family member. There are different types of trusts, and each serves different needs.

Durable Power of Attorney

This document allows seniors to appoint someone to manage their financial affairs if they become unable to do so. This can include paying bills, managing investments, and handling other financial matters.

Healthcare Power of Attorney

Also known as a healthcare proxy, this document designates someone to make healthcare decisions on the senior’s behalf if they are incapacitated.

Living Will

This outlines the individual’s preferences for medical treatment in situations where they are unable to communicate their wishes, particularly concerning life- sustaining measures.

Beneficiary Designations

Often overlooked, these designations on financial accounts, insurance policies, and retirement accounts can override instructions in a will, so they need to be kept up to date.

Letter of Intent

While not a legal document, a letter of intent can provide guidance to family members about personal wishes and directions regarding the individual’s estate.

Digital Asset Inventory

As more aspects of our lives move online, it’s important to have a plan for digital assets, like social media accounts, online banking, and email accounts.

Each of these documents plays a critical role in estate planning, especially when seniors are downsizing. It’s advisable for them to consult with an estate planning attorney to ensure that their documents are properly drafted and reflect their current wishes and circumstances.

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Capacity is the opposite of incapacity. When a person has capacity, they can fully understand and evaluate risks and rewards. If a court finds that a person signed a will while incapacitated, the court can invalidate the will.

Incapacity Determination

Whether someone is incapacitated or not may be difficult to determine. It is important to note that just because a person is diagnosed with memory loss, does not per se mean they are incapacitated.  However, when cognitive decline is an issue, attorneys will take great measures to ensure a client has capacity before having them sign legal documents.

Adult children will often call an attorney to schedule an appointment for their parents to assist them with getting their legal planning done. To protect the elderly person from undue influence, the attorney will often ask if the parent (the potential client) can call them and schedule the appointment and on the day of the appointment, ask any family members to sit outside while the attorney establishes the attorney-client relationship and assess capacity. 

The attorney may also ask the client to provide a letter of medical capacity from their doctor in which the doctor will state that despite some memory loss, the client has the ability to make their own legal and financial decisions. Whether a doctor will provide such a letter will be based on their own medical assessment.

Power of Attorney

A power of attorney is a legal document that allows the person signing the document (the “Principal”) to appoint someone else (the “Agent”) to make decisions for them. 

• With a power of attorney for property, the principal can give the agent authority to handle their financial affairs, such as paying bills, managing accounts, selling property, etc. The Power of Attorney must be in writing and witnessed by a notary to be effective. 
• In Oregon, a health care power of attorney is called an Advance Directive. This document allows the principal to select an agent (also known as the Healthcare Representative) to make health care decisions for them. The principal can also give the agent instructions for the type of care they would like to receive, including end-of-life care. 

The power granted in a power of attorney can be dangerous in the wrong hands. Therefore, creating a valid power of attorney requires the principal to have the mental capacity to understand the contents of the power of attorney and to whom they are giving that power. When creating a power of attorney for yourself, you should only nominate an agent that you trust will protect you and your assets. Such a power of attorney then allows you to preserve your autonomy, as you have selected a surrogate decision-maker to make decisions according to your wishes and not be subject to a court appointed guardian.

A power of attorney can be structured so that it takes effect only after a physician determines that you cannot make decisions for yourself. This is called a “Springing Power of Attorney.” The power comes to life only after you have been deemed to be incapacitated. A springing power of attorney can be problematic because physicians are often reluctant to declare a patient to be incapacitated, thus leaving the family without means of protecting the incapacitated person. In such circumstances, it may become necessary to have a court appoint a guardian and or a conservator.

If you trust the person you are giving the power to, it is often best to give the authority as soon as they create a power of attorney, as this avoids having to wait for a physician’s determination of incapacity.

The court may appoint a guardian and or a conservator for those who become incapacitated without a power of attorney.

Guardianship of an Adult

Incapacity is a central concept in the guardianship of an adult. Typically, an adult will need a guardian when they are deemed incapacitated by a judge and have not created a power of attorney for themselves. A Guardian is not what most people want because having a guardian appointed essentially strips the individual of their rights and autonomy. They are no longer able to make life decisions for themselves. The court takes this very seriously, and therefore, it is normally quite difficult to have a guardian appointed. 

When a petition is filed to request a guardian be appointed for an individual (the “Respondent”), the Respondent is entitled to due process of law. This means the Respondent will be notified of the petition and have an opportunity to object. If they object to the petition, the judge will order a hearing at which the Respondent may hire an attorney to represent them. During the hearing, the judge must determine whether the Respondent is incapacitated and whether that incapacity is likely to lead to severe injury or death.  The court will rely on evidence from the individual’s physician, family members, friends, and the Respondent’s own testimony. When a judge deems the Respondent to be incapacitated, they will appoint a qualified individual to be their guardian (protector of the person) and possibly a conservator (protector of the assets).

Guardianships and conservatorships are expensive and will cost on average $5,000.00 to establish and thousands of dollars each year to maintain. 

When an individual neglects or refuses to do estate planning, the likelihood of needing a Guardianship goes up significantly.

Wills and Estate Planning

Making a will or any estate planning documents that need your signature, such as a trust or transfer on death deed, requires you to have capacity. You must understand what documents you are signing. As this pertains to a Last Will and Testament, the person executing the will (the “Testator”) must be able to understand the nature of the act (making a will) and its effects; understand the extent of the property of which he or she is disposing; know without prompting the claims, if any, of those who should or might be, the natural objects or their bounty; and be cognizant of the scope and reach of the provisions of the document. 

A will is only valid if you had the required mental capacity when you signed it. The court can invalidate your will if it finds that you were incapacitated when you signed it. For those clients struggling with capacity, it is imperative for the attorney to understand the nature and extent of the cognitive decline, work closely with the client to determine whether the requisite capacity is there and document those conversations thoroughly. If a contest is brought, the attorney will need ample evidence to show that the client knew and understood what they were signing. 

Do Not Wait to Plan

Having a good estate plan can save tens of thousands of dollars in legal fees alone, not to mention the heart ache and stress this will place upon loved ones. As we get older, it becomes more and more imperative to have a good plan in place. All too often, clients wait until the last minute to contact an attorney to get an estate plan in place. Some clients mistakenly believe they are protecting their rights by not signing a power of attorney when in fact, the opposite is true. 

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1. Probate – Court supervised administration of your estate is never a pleasant journey. Despite the helpful court personnel, there are still filing fees, lack of privacy issues, and long waiting periods before distribution. And that’s if all goes well.

2. Asset Protection – Many people do not take advantage of the asset protection opportunities that can be achieved with relatively basic estate planning. Creating trusts for spouses and children with the right provisions means your assets can be protected from claims of creditors and predators for years to come. While we hope that our children would not fall victim to divorce, this is one asset protection conversation that must be planned for.

3. Tax Planning – This is never an easy issue as the various tax systems don’t always line up with each other. Consider the tension between gift planning, (giving away some of your assets) to shelter appreciation by moving them outside of your estate, and loss of basis for capital gains purposes. While not easy, this issue can really cost you money if not properly handled.

4. Family Disharmony – Estate planning is a way for you to say you care about your loved ones. But selection of your personal representative or trustee can also stir the pot and create issue issues for those not chosen. Sometimes it is best to name a non-family member to be in charge of your estate. Giving thought to how to help resolve these conflicts or at least, not make them worse, can help to avoid family conflicts.

5. Attorney’s Fees – The best way to control legal fees is to incur them while you are alive and able to oversee the planning process. Failure to plan is likely to increase the total amount of fees paid. Especially if family members decide that fighting is the best way to resolve disputes after you’re gone.

6. Successor Fiduciaries – Make sure that you name back up personal representatives and trustees, or provide the beneficiaries with a way to fill a vacant role, so that a court proceeding is not required.

7. Contingent Beneficiaries – Make plans for your estate in the event that your immediate family members die and are unable to inherit your estate. Pick a charity or a group of more distant relatives or close friends.

8. Updating Beneficiary Designations – Life insurance and retirement accounts are controlled by the beneficiary designations you make when you purchase the life insurance or open a retirement account. They are most notably the small boxes you checked at the end of your application. Make sure these stay updated. We have seen more than once a policy which still names a client’s first wife or husband many years after a divorce and remarriage.

9. Joint Accounts – Often used as a convenience during life and a will substitute at death. Because these accounts go to the survivor, make sure that this lines up with your overall plan of passing assets to your heirs. Leaving money in a joint account for one child with the idea that they will spread the wealth around after your death can be a recipe for disaster.

10. Failing to start – Procrastination is probably the leading cause of problems in estate planning. Once a disability or death occurs, planning becomes very difficult and lots more expensive, if possible at all.

The post Top 10 Estate Planning Issues appeared first on CareAvailability.

Although planning for death can be hard to face, you want to assure that you have all the necessary steps and documents in place as soon as possible. What happens logistically when someone passes? What happens to their stuff? Getting familiar with your state’s probate court process, and making a will or trust will help you cover all necessary outcomes for when the time comes. By having all bases covered, you can focus the remaining days cherishing time with your loved ones without worrying about the possible complications.

The State Probate Process – What happens if you don’t properly plan?

When someone passes, their belongings will go through state probate, which is the court process of moving property from the dead to the living. The probate process involves:

• Petitioning to tell the court that someone has passed.
• Letting the court know who the creditors are.
• Establishing the people are that may or may not be getting anything out of an estate.
• Letting the court know whether or not there is a will in place.

The Probate process only applies to things that are owned in a dead person’s name only. In general, probate involves looking at the default errors in the intestate succession rules, and to confirm the necessary beneficiaries of assets. If will is not in place, the standard occurrences of beneficiary designation will go to a spouse. At this point the court would then initiate the liquidating of assets to be distributed, and without a will this process can range from 9 months to 3 years.

The Benefits of Having a Will – Save Time, Save Money

A will names who should be in charge, who should get what, and how it should happen.

If you have a will, you are still going to have to go through the state probate process, however your court dealings will be much smoother. Establishing a will assures direct control of your assets that can then be ready to be distributed in a timely manner.

As mentioned, if a will is not in place, the state will deem the natural objects of your bounty, aka your stuff, only to the rightful heirs – a spouse and/or children. By having a will, you can legally designate other people as beneficiaries. Life gets complicated, and often the rightful heirs are not the people someone wants to leave assets to. A will gives you control over this outcome, and allows you to name beneficiaries that may not be immediate family, such as a deserving friend or caregiver who was a more significant part of your life.

Trusts – Avoiding Probate and Simplifying the Planning Process

Trusts are essentially wills that allow you to avoid the probate process, with a few other substantial benefits. Although trusts are often considered to be a more expensive route at first, you want to consider the potential headaches of the probate process.

Why would you want to avoid probate?

The main reasons to avoid probate are: 1) time, 2) cost, and 3) public record.
Going through the court process of assigning proper accreditation and assets can be a huge time suck, depending on available dates and the amount of arbitration. This process will only get more expensive as time goes by, and at the end you’ll have all your dealings on public record – and who doesn’t want to avoid that!

A Trust may solve this problem

A trust allows you to avoid probate all together, and to establish all your outcomes privately. Akin to a will, a trust names necessary beneficiaries of assets as you wish. Apart from avoiding the court process, a trust is uniquely beneficial for dealing with complicated situations of said assets. For instance, if you have beneficiaries that need money quickly, such as young children, a trust assures they can receive money directly and quickly within the first year.

A trust is also advised if you have multiple properties across different states, as without a trust you will have to go through the probate process of each state – NOT FUN. By having a trust, the named trustee can take care of all necessary tax paperwork while avoiding multiple court processes.

Are you a business owner? If you are the decision maker of a business and you pass way without a trust, you will of course have to go straight to probate with the kicker being that establishing a representative for your company’s business decisions can take months to years. This would mean there is no one left in charge to maintain the day to day operations of a business such a payroll, too often leading to the ending of the company you built.

A trust allows you to deal with complicated situations effectively. A little more thoughtful time in the beginning can avoid substantial complications of assets in the end.

You are not alone. Establishing end of life plans can be emotionally tolling and exhausting, as trying to make sound decisions and getting caught up in legal jargon in the face of death can seem all too trivial and overwhelming. However, being sure you establish a will or trust, as well as understanding your state’s probate process, will leave you with no surprises. You can then necessarily focus on passing or grieving, and enjoying the final moments without worrying about what comes next. For any questions, always be sure to get in touch with an elder law attorney, as these processes can be cumbersome and different state by state.

Helpful Resources and Links

The National Academy of Elder Law Attorneys (NAELA) is dedicated to improving the quality of legal services provided to older adults and people with disabilities. Elder and special needs law includes helping such persons and their families with planning for incapacity and long-term care, Medicaid and Medicare coverage (including coverage of nursing home and home care), health and long-term care insurance, and health care decision-making. 

The post Wills, Trusts, and Probate – Plan Ahead appeared first on CareAvailability.

Would your family be able to access your insurance policies, financial records, electronic medical records, photos, or social media accounts if something were to happen to you? Most people recognize the importance of completing a will and other estate planning documents, even if they haven’t done them yet. However, many families don’t realize the importance of organizing and securing their digital estate, until it’s too late and their families are locked out of assets and treasured memories.

What is your digital estate?

A digital estate is comprised of anything that is (or could be) connected to the internet– in other words, your online assets and accounts, any digital assets you may own, and any digital devices (like your computer and cell phone).

Many people will think “oh, Mom doesn’t use the internet” so they think that there is no digital estate. However, over 70% of adults in their 70s have smartphones today, and between online banking, online pharmacy accounts, electronic medical records, and even smart home devices, people have many more online accounts than they realize.

In today’s digital world, many of us have more files online than we have in our office. Information that used to arrive in our mailbox now is locked behind a username and password, meaning our loved ones may not even be able to find our accounts, let alone access them, if we don’t plan ahead.

Many families underestimate how expansive their digital estate actually is, especially for older adults who didn’t grow up with technology. 65% also admit to reusing passwords, putting their identity and assets at risk. In fact, the average household now values their digital estate over $55,000!

Just like the rest of your estate, it’s important to ensure that all these items are organized for your family in case something happens to you.

However, digital estates are constantly changing– it’s modified every time you add a new account, buy a new device, or even just change a password. In today’s digital world, with online billpay and paperless statements, digital assets are often invisible or inaccessible if something happens to you. By planning ahead, you can ensure your family isn’t locked out of your legacy.

The 7 Steps of Digital Estate Planning

We’ve broken down digital estate planning into 7 simple steps so that your identity and assets are secure, and your loved ones can still access what they need if anything happens.

Step 1: Inventory your digital estate

Your digital estate is probably bigger (and more valuable) than you think! Items included in your digital estate include:

• Online accounts
• Digital photos, videos, other media
• Digital books and movies
• Digital files (e.g., Dropbox, Drive files)
• Social media posts
• Domain names
• Websites you own
• Digital account statements (e-statements)
• Digital devices (computer, cell phone, etc.)
• Credit Card Points
• Airline Miles
• Online financial accounts (e.g., Venmo, Paypal)
• Cryptocurrency
• Non-Fungible Tokens (NFTs)
• Video Game Assets

Step 2: Secure what you have

As mentioned above, over 65% of people admit to reusing passwords. Many older adults who didn’t grow up with technology also don’t realize the importance of securing devices (laptops, tablets, cell phones) with a password.

An important first step is making sure you and your family members have secure, unique passwords for each site. If you or your family has been reusing passwords across accounts, start by signing up for a password manager, like Easeenet or LastPass. Then, as you or your family log into your online accounts, take 20-30 seconds and change your password to something that is unique to that site (most password managers will offer a password generator tool if you don’t feel like being creative). You’ll also want to make sure that your executor/ legacy contacts can locate and access both account passwords and device passwords if something happens to you.

Some people will use a spreadsheet for this task, but security concerns make this a less-than-ideal option. There’s also the access concern, since unless you email the spreadsheet (major security issue) or store it in a digital vault, your executor will have to physically be where the document is to access the information; for families who live out-of-state, this can cause inconvenience and delays.

However you choose to secure this information, make sure the tool you choose doesn’t rely too much on manual entry, since your digital estate is updated so frequently– if you use a spreadsheet or any other manual capture, you’ll have to remember to go back and update your records every time, so your family isn’t accidentally locked out because they have the wrong passwords.

Keep in mind that accounts are only one piece of this – you’ll also want to organize and preserve important documents, including any estate planning documents you have (like your will and durable power of attorney). Other important documents may include tax returns and titles to your car and house.

Step 3: Establish good habits

Once you have your tools in place, you’ll need to establish good digital hygiene habits to ensure that your legacy is protected. This means making sure that your password manager is installed on all of your devices, so you have a single record of truth, remembering to upload important documents (like tax returns and a digital copy of estate planning documents), and documenting your critical life details.

This doesn’t need to be a huge chore, however. Once it’s set up (usually less than 15 minutes), your password manager will actually save you time– and if you take even a few minutes per month in updating your documents and life details, you’ll save your family countless hours of stress and frustration if anything happens.

Step 4: Make sure your family is protected legally

Digital Asset laws are relatively new and untested, and vary by jurisdiction, though in the few cases that have made it to court, mostly the courts have sided with an estate’s executor in terms of accessing necessary accounts. You’ll want to check the specific rules in your jurisdiction to ensure that your family/executor is protected.

In the United States, as of 2020, RUFADAA has been enacted in 45 states, all except California, Louisiana, Massachusetts, Oklahoma, and Washington DC. RUFADAA allows people to designate a digital executor, and sets up a hierarchy for control of digital assets.

Given highest priority under RUFADAA is a website’s own online tool where users can select their legacy contact (such as Facebook’s Legacy Contact, Google’s Inactive Account Manager, and Apple’s Digital Legacy function), since users can change their wishes in real time. While your digital executor may be able to gain access without using their proprietary tools, it’s recommended to leverage the tools they’ve built for ease of access and expediency.

Second priority is given to a digital executor designated in your will or power of attorney, and if neither of these exist, the website’s terms and conditions have authority. Since terms and conditions generally favor the company that wrote them, it’s critical to ensure you’ve designated a legacy contact or digital executor, so that your wishes regarding your digital assets are enforceable.

Step 5: Get your memories in order

The average person now takes 150 photos per month, and many older adults still have boxes of physical photos too. For people who are on social media, they also have treasured memories stored in their posts and photos there. If you spend some time organizing what you have in advance, your family will be incredibly grateful that they don’t have to navigate boxes of photos or thousands of digital photos.

One of the good habits you can establish is spending some time cleaning out old photos regularly. For example, spending 15 minutes once per week selecting the best digital photos you took that week and deleting the rest, or making a date with mom to go through a box of old photos and digitizing the ones you want to preserve, including who is in the photo and when/where it was taken.

Some software is available to help with this, and some even offer facial recognition or automatic tagging. Cell phones usually have this built in, so you can search by person, place, or even object (“dog”, “beach”, etc. will surface photos of those objects without manual tagging) but for boxes of old photos, you’ll need to do this manually.

Many people don’t realize you can also download your posts, photos, and other information from Facebook. You can do this at any point for yourself, and if you’ve designated a Legacy Contact and granted permission, that person can download your account after you’re incapacitated.

Several of the social media accounts can also be “memorialized” if you choose, so friends can continue to send well wishes after you’re gone (for example, on your birthday) so it’s a good idea to make sure your loved ones know your wishes regarding your accounts ahead of time, and ensure your accounts are set up properly to accommodate your wishes.

Step 6: Establish your backups (including helpers)

In most places, your will becomes public record, so you do not want to include a detailed inventory of your digital estate (especially not passwords or secret keys) in your will directly. In some places, even having these details in an addendum can open it up to public eyes. Your best plan is to reference your digital estate inventory, stored separately in a place that can remain private.

It’s also important to think about how you want your legacy to live on beyond social media, whether you want your accounts memorialized or deleted, and include that information in your inventory.

Since digital assets can be tricky to navigate and some people aren’t comfortable with technology, you may consider naming one or more people who can act as a digital estate advisor, especially if you have cryptocurrency or NFTs. There are advisors you can hire, or you may have trusted friends who are knowledgeable in this space.

Step 7: Communicate!

One of the most important pieces of any estate plan is to ensure that you’ve communicated it to your executor. Make sure they know what tools you’re using, and that you’ve listed them as your digital executor/ legacy contact both in your will and in any relevant online tools. Notify them about where to find the information about what you have in your digital estate, copies of important documents, and where you have your secret key stored (if applicable). You don’t have to give them immediate access to anything while you’re still around, if you use a digital vault.

Most of all, remember that pre-planning is necessary for digital estates–there are no guarantees that all of your accounts will be able to be located, let alone accessed, if you haven’t taken the steps to organize and preserve your digital estate in advance

Checklist:

• Inventory your digital estate
• Designate a Digital Executor in your will/power of attorney
• Set up a password manager
• Ensure every password is secure and unique
• Organize important documents
• Get your memories in order
• Make sure your Digital Executor can find and access everything

The post Your Digital Legacy appeared first on CareAvailability.

The post Estate Planning appeared first on CareAvailability.

Plan Ahead

Healthcare crisis management is one of the biggest reasons people seek out an elder law attorney.  But, the best time to find an elder law attorney is before a crisis. Advance planning avoids many problems, and helps achieve peace of mind for yourself and your loved ones.

The post Talking About Aging, Planning Ahead & Finances appeared first on CareAvailability.