Law Offices of Roshni T. Desai
Long-term Planning For Orange County
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estate planning Archives

Why banks may reject a power of attorney

It seems that everything is set in place for your estate. You have signed up a competent and trusted individual to assume power of attorney in the event you are disabled and can no longer make plans for your estate. But what if the person with your assigned power of attorney goes to your California bank to handle an issue with your account only to be turned away? Unfortunately, finanical institutions rejecting people with power of attorney is a real scenario that people are experiencing to their confusion and frustration.

What is a pour-over will?

If you have a California living trust, you also may wish to execute a pour-over will so that your will and your trust work together in the most effective manner. As FindLaw explains, your pour-over will instructs your executor to pour over all of your assets into your living trust.

How can I help my parents age with dignity?

None of us want to think about our parents getting old and passing away, but it is an inevitable fact of life. For many senior citizens in California and elsewhere, the golden years can be full of uncertainty, sadness and loneliness. They may feel less useful than before and that their younger family members are leaving them behind as they live busy lives. Fortunately, you can show your parents that they are just as important to your family as they always were.

Recognizing the signs of elder financial abuse

It can be difficult to accept the fact that cognitive ability declines for some senior citizens, especially those who suffer from dementia or Alzheimer’s disease. At the early stages of these conditions, many seniors are still living independently and have full control of their finances. Our team at the Law Offices of Roshni T. Desai has seen the heartbreaking results of older and vulnerable Californians who have been taken advantage of by unscrupulous people. If your parent is beginning to show the symptoms of a cognitive disorder, you may worry how to protect him or her from being targeted in this manner.

What is a medical power of attorney?

If you are a California resident who feels strongly about the type and quantity of medical care you receive, you may wish to consider executing a medical power of attorney that will give someone else the power to make medical care decisions for you if and when you are unable to make them for yourself. Aging Options explains that while your appointed representative can go by a variety of names, such as your health care agent, surrogate or attorney in fact, he or she will be charged with making your medical care decisions in the event a physician determines that you do not understand the decisions you must make and/or that you cannot communicate those decisions.

How to play it safe when appointing a power of attorney

California residents can plan wisely for the future when they choose a power of attorney to assist with financial management. Making the decision with mental faculties intact is important, a fact that seems to favor selecting a POA before getting too old. Yet, including another person in financial decisions can be risky. What can individuals do to minimize the risk?

What is a living will?

If you are a California resident who believes that estate planning should be a major part of your life, you may have heard about living wills and wondered what they are and how they differ from regular wills. Actually, as FindLaw explains, a living will is not a will at all. Whereas a regular will allows you to state who you want to receive your assets and various pieces of your property upon your death, a living will allows you to state your medical treatment preferences if you are terminally ill or suffer an injury or illness that leaves you in a permanent vegetative state.

What is a durable financial power of attorney?

If you are a California resident who is concerned about how your financial decisions will be made and who will make them in the event you are unable to make them yourself, you may wish to consider creating a durable financial power of attorney. As FindLaw explains, a financial power of attorney is a document you sign that grants someone else the authority to take care of your financial matters if and when you are in a position where you cannot do it yourself. This person usually is called your financial agent or your attorney-in-fact.

The holidays can be a good time to talk about estate planning

At the Law Offices of Roshni T. Desai, we understand that you want the best for your loved ones. For this reason, it is never a bad time to begin your estate planning or update an existing will or trust. However, estate planning might seem overwhelming if you are just starting to think about it. This holiday season, you and other Californians might find it useful to talk to your family members about estate planning while you are together celebrating.

What is a charitable trust?

If you are a reasonably wealthy California resident who desires to make a substantial contribution to your favorite charity, you may wish to consider creating a charitable trust. As Fidelity Investments explains, there are two different types of charitable trusts: charitable remainder trusts and charitable lead trusts. Both types split the assets you contribute between the charity and a noncharitable beneficiary of your choice.