Often our law practice emphasizes the need for older individuals to plan, but in fact every adult should have some plans in place.

At our firm we recommend clients personally review their estate plan every two or three years and have an attorney review them every five years or whenever they experience a major life-event.

There are two reasons why. First, major life-events can affect your existing estate plan. Secondly, the laws change and generally citizens are unaware of these changes and how these changes will personally affect their estate plan.

Many married couples are unaware of an important element of asset preservation when faced with long term care expenses -- the Medicaid Resource Assessment. A portion of the Medicaid rules is designed to protect the community spouse (spouse at home) from impoverishment and unnecessary dissipation of family assets.

When a loved one names you to be their attorney-in-fact or agent, you must follow the instructions contained in the authorizing document. You have 4 BIG responsibilities.

What is a POA? Who can make a POA? What can you do with a POA?

When I read that Prince failed to leave a will or any known estate planning documents, I was shocked. The musician, who was notoriously hands-on with his music and its management, failed to prepare a plan for what would happen after his death. Prince left behind an estate estimated to exceed $300 million. While most of us will never accumulate that much money, we can still learn from Prince’s mistakes.

One of the most common things I hear from my estate planning clients is that they want to “avoid probate.” So, I’ve started asking them “why?” They tell me one of two things: first, they have heard that probate is expensive, or secondly, they don’t know why. In 1965, Norman F. Dacey published his well-known book How to Avoid Probate! Norman F. Dacey, while not an attorney himself, instructs the public to transfer everything they own into a Living Trust using one of the forms in the back of his book.

Elder law involves some traditional estate planning – wills, trusts, and powers-of-attorney. But an elder law attorney uses these devices to fulfill a client’s goals for the future while considering the costs of long-term care.

Inter vivos gifting should feature prominently in the estate plans for our middle class clients who may have accumulated considerable wealth.

Unique problems come with aging. Are your powers-of-attorney meeting your needs? What should they include and who should draft them? Article orginially published in the KBA's Bench and Bar Magazine.