Power of Attorney: There’s Always Room for Family Conflict

Anyone who grew up in a dysfunctional family understands the potential for discord when it comes to the family estate and an inheritance. But even in the closest of families, if there’s money involved, there’s room for conflict.

Power of Attorney: Choose the person you can trust

In Alana’s case, the dust was still settling on her third divorce, and one of her kids was in and out of rehab for substance abuse. The youngest of three siblings, Alana always struggled to measure up to her rock-star brother and sister—they were the ones who excelled at everything they did, winning awards, graduating with honors and building successful careers. She was the one who always seemed to make a mess of everything.

And now her parents had named her brother their Agent for their Power of Attorney. She was hurt because this was something she had wanted to do—a chance to redeem herself to her family. But the fact that her own financial affairs were a mess and she couldn’t balance her own checkbook led her father to appoint her investment banker brother. It was he who would also be the Executor of the estate. Her sister, a doctor, would be their parents’ Agent for their Healthcare Directives. Alana was left out once again.

Your Power of Attorney is the person who will act on your behalf if you become incapacitated, the one who will take over your financial affairs, pay your bills and taxes, open bank accounts, withdraw funds, cash checks and trade stocks. It must be someone you trust; ideally, it’s someone who lives close by.

Parents tend to appoint one of their children as Power of Attorney for practical reasons. Many put their faith in their oldest child or choose the son or daughter who lives closest or the one who has a financial services background. In the same vein, for their Agent for an Advance Healthcare Directive, parents are likely to choose a son or daughter with healthcare experience.

There are limits on the powers of the Power of Attorney designation

• Right to information. The parent does not have to disclose to friends and family whom he or she named as Agent under the Power of Attorney. Likewise, that Agent is not obligated to provide information about the parent to his or her siblings.
• Limits on the powers of a Power of Attorney. A Power of Attorney designation does not enable the Agent to do whatever he or she wants. An Agent cannot change the principal’s will, breach his or her fiduciary duty or change or transfer the Power of Attorney designation to someone else.
• Power of Attorney expires at death. When the parent dies, the Power of Attorney ends and the Executor of the estate – appointed by either the principal or the court – takes control over the decedent’s property.
• Revocation of a Power of Attorney. The parent can revoke whomever he/she has appointed as the Power of Attorney. The revocation must be in writing and the former Agent Power of Attorney should be advised of the revocation.

Avoiding the potential for sibling discord

Sometimes conflict is inevitable. One child may be resentful that he or she was not chosen. Another child may not trust the chosen sibling to act according to the parent’s wishes. Just knowing that a Power of Attorney can be challenged in court is often enough for a sibling to act on his or her distrust or resentment. To minimize confrontations, as the principal appointing the Power of Attorney, there are alternative solutions:

• Designate co-Agents in the Power of Attorney document. Appointing two persons can be problematic if the Agents cannot get along. You could create separate responsibilities for each Agent, but that can be unwieldy and still can lend itself to conflict.
• Avoid appointing a family member altogether. Name a close friend, fiduciary or a bank. Avoiding conflicts and court involvement is important to ensure your wishes will be followed.

A Living Trust: One of the most thoughtful things you can do for your family

A Living Trust is a legal document that contains instructions for what you want to happen to your assets when you die. For my family, it meant that when my parents died, all of their affairs were in order, they had transferred all of their assets into the Living Trust and identified their heirs. Without a Living Trust, their estate would have gone into Probate and my brother and I would have been dealing with this long, expensive process—even while mourning the death of our parents.

Guideway is proud of our comprehensive Living Trust package that includes a Power of Attorney and Advanced Healthcare Directive. Best of all, we guide you through it and we prepare the legal documents. Schedule an appointment with Guideway today.

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

The Holidays. The Perfect Time to Talk about a Living Trust!

My family tried for years to get my folks to create a Living Trust. While my mom was an easy sell, it was my stepfather, Charlie, who was the holdout. A retired Navy pilot, we figured it was some kind of macho-military thing. He wouldn’t listen to my mom, his daughters or me. But one year during the holidays, my brother brought the subject up, explaining how difficult Probate can be for grieving families. Bingo. It took the intervention of a male for Charlie to take this seriously.

Charlie and my mom finally created their Living Trust when they were in their mid-70s. It took my brother’s intervening again to get my folks to update that Trust when they were in their early 90s. By that time, they were very frail, though they still had testamentary capacity. This update was important, as they’d made some good investments, and one of Charlie’s daughters had died.

Let’s face it—there’s never a great time to talk about end-of-life planning

Yet if your efforts to get your parents or other family members to create a Living Trust have fallen flat, it might be that the holidays are the time for this conversation to resurface. Additional family members may provide the support you need.

A Living Trust provides peace of mind

A Living Trust is a legal document that contains instructions for what you want to happen to your assets when you die. For my family, it meant that when my parents died, all of their affairs were in order, they had transferred all of their assets into the Living Trust and identified their heirs. Without a Living Trust, their estate would have gone into Probate and my brother likely would have been the one having to work through the Probate process for our family.

Our Trust package includes a Power of Attorney and a Healthcare Directive

A Financial Power of Attorney, a written authorization to represent or act on another’s behalf is an important part of life planning. As people age, it’s not unusual for their memories to fade and their thinking to become unclear. The time often comes when they can no longer pay their own bills, interact with their healthcare providers, insurance representatives and other professionals—yet it’s critical that they continue these services. Having a trusted family member or friend step in as Financial Power of Attorney means that the services and care they require will seamlessly continue.

An Advance Healthcare Directive specifies what actions should be taken for your health if you are no longer able to make decisions for yourself because of illness or incapacity. We all like to think that we’re going to age gracefully and die peacefully in our sleep at a ripe old age, but the reality is that people have massive strokes, fall into comas and have debilitating accidents. Planning ahead and creating an Advance Healthcare Directive makes it easier for your family to care for you if an unfortunate situation arises.

A thoughtful gift for your family this holiday: Create or update your Living Trust.

With families gathered for the holidays, it’s the perfect time to encourage procrastinating relatives to create or update their Living Trusts. We’re proud of our comprehensive Living Trust package that includes a Power of Attorney and Advanced Healthcare Directive. Best of all, we guide you through it and we prepare the legal documents. Schedule an appointment with Guideway today.

 

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

Is It Time to Redefine “Fully Vaccinated”?

Nearly two years of Covid, and the emerging variants indicate that it’s not going away anytime soon. We’ve adapted our business models and facilities to create safe environments. At Guideway, the uncertainty of this pandemic has resulted in an increase in people creating or updating their Living Trusts. A Trust is especially important for those with young children. If something happens to you, who will care for your children? Without a Trust, the court appoints a guardian for your kids. By creating a Trust, you can name a guardian and be assured that your family will inherit your assets as you have planned. In the meantime, getting a booster shot is the best way to protect yourself against Covid.

The CDC is now recommending booster shots for everyone over 18

The Centers for Disease Control and Prevention is now recommending that everyone 18 and older get a Covid booster shot. This messaging is more urgent than that of just a few months ago when the recommendation was for those 50 and older. Dr. Anthony Fauci, chief medical adviser to President Joe Biden, is now unequivocal in advising the public to “get boosted now.”

According to CDC Director, Dr. Rochelle Walensky, “As science evolves, we will look at whether we need to update our definition of ‘fully vaccinated.’ The definition hasn’t changed. That’s after your second dose of a Pfizer or Moderna vaccine, after your single dose of a Johnson & Johnson vaccine.”

Even with vaccinations, immunity wanes

Two state governors are taking the booster seriously.

• Connecticut Gov. Ned Lamont. “In my view, if you were vaccinated more than six months ago, you’re not fully vaccinated,” said Lamont on Nov. 18 during a press briefing. He was encouraging everyone to get boosted—even before the federal government authorized extra shots for everyone.
• New Mexico Gov. Michelle Lujan Grisham had a similar response in mid-November, saying she defined “fully vaccinated” as receiving three shots of the mRNA type. She also opened up booster eligibility to all of her state residents before the CDC and Food and Drug Administration did.

Infections with the omicron variant have been reported in at least five states. Omicron is distinguished by at least 50 mutations, some of which appear to be associated with increased transmissibility. The World Health Organization dubbed it a “variant of concern” on Nov. 26.

The social implications of changing vaccination status

An increasing number of venues require proof of vaccination for entrance. New York City’s Key to NYCrequires that people 12 and older show identification and proof they have received at least one dose of a COVID-19 vaccine for access to indoor dining, fitness and entertainment venues. France’s Pass Sanitaire is required for access to all cultural venues, restaurants and bars. Passengers of long-distance trains, buses and domestic airlines need this pass. Think of all of the workplaces that have vaccine mandates—the Department of Defense, Goldman Sachs, MacDonalds, Cisco, American Express, Facebook, Ford, etc. It’s a growing list.

One doctor doesn’t quantify “fully vaccinated”

Dr. Marc Siegel, an associate professor of medicine at the George Washington School of Medicine and Health Sciences thinks more suitable terminology would be to call someone “adequately” vaccinated against covid rather than “fully” vaccinated, since it’s possible that more boosters could be needed in the future — making “full vaccination” a matter of semantics and a moving target.

Businesses don’t appear to be checking for boosters at this time, but that could change. There may be a time when patrons present a two-shot vaccine passport, only to be turned away as inadequately protected.

A thoughtful gift for your family this holiday: Create or update your Living Trust.

As you prepare your home for winter and get caught up on vaccines that will help you and your family stay healthy through the coming months, this is also a great time to create or update your Living Trust. With families gathered for the holidays, it’s also the perfect time to encourage aging family members to create their Living Trusts.

We’re proud of our comprehensive Living Trust package that includes a Power of Attorney and Advanced Healthcare Directive. Best of all, we guide you through it and we prepare the legal documents. Schedule an appointment with Guideway today.

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

 

The Kickoff: Holidays 2021

Let the season begin! That old excitement is back in the air. What can we expect? A white Christmas in many parts of the country. People on the move. Crowded airports and train stations. Busy restaurants. Americans happily spending money again.

Forget the “need-to-haves”. Americans are ready for the “I deserve-to-haves”

Salesforce is predicting demand for products in the adventure industry–luggage, sporting goods, and vacation-wear purchases will increase as Americans get back to planning trips again. After a year of living virtually, we’re looking forward to in-person celebrations. A year of schlumping around in sweats has led to our wanting to buy clothes again. Party clothes, glitter and glamorous accessories. Consumers with money in their pockets will be looking to upgrade their wardrobes with investment pieces like jewelry and watches that they can show off.

And the family thing? For many, it never gets any easier

This year the conflict transcends the usual criticism over children’s life choices. Polarized politics and Covid have created mine fields for many families. Some people are not inviting unvaccinated family members to Thanksgiving; others are scoffing at relatives who insist on masks.

“Now it’s no longer whether you just disagree about the long-term effects of climate change,” said Jill Suitor, a sociologist at Purdue University, where she leads a project investigating family conflict in 550 multigenerational families, “but whether you believe that having certain family members present poses a serious danger to other family members.”

But those classic fights about politics or where to spend Christmas are really about something much deeper, especially in 2021. Psychologists caution us that we’ve been through a lot. There’s a yearning for love, connection and, above all, belonging. There’s a theme of “We hope that our parents will understand this year. Maybe this time, my in-laws will accept me.”

But after a year apart, we’re further apart

Feelings will be hurt this year and efforts to express love may be clumsy, awkward or marred by pride and stubbornness. Though the pandemic has increased tensions within families, it has also created an opening. Now more than ever, people are recognizing the importance of being together, understanding how precious and fleeting life can be. There will be a lot of empty places at holiday tables, and we’ve experienced painful losses. Being grateful for our blessings may inspire us to lead with love and tolerance this holiday season.

 

One thoughtful action item for your family this holiday: Create or update your Living Trust.

As you prepare your home for winter and get caught up on vaccines that will help you and your family stay healthy through the coming months, this is also a great time to create or update your Living Trust. With families gathered for the holidays, it’s also the perfect time to encourage aging family members to create their Living Trusts.

We’re proud of our comprehensive Living Trust package that includes a Power of Attorney and Advanced Healthcare Directive. Best of all, we guide you through it and we prepare the legal documents. Schedule an appointment with Guideway today.

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

Thanksgiving 2021: The Year We Get Even

Who remembers last year’s Thanksgiving? Too afraid of Covid to travel, we became a nation of solitary diners hunkering down to a box of takeout, perhaps salvaging our meal with a good bottle of wine. My brother in Florida never got out of his pajamas. He watched the Macy’s parade and nonstop football; dinner was scrambled eggs and toast. I was lucky–my neighbor loves to cook and treated us to shrimp etouffee. More than any other holiday, Thanksgiving is the time for sharing traditions with those we love. For many of us, the 2020 holidays created traditions we’d just as soon forget.

This year Americans are on the move

This year promises to be the year we get even. With our vaccinations, booster shots and money in our pockets, Americans clearly are ready to get out of town. Trips within the U.S. are the most popular holiday destination this year. Many are making up for having missed their families last year. Others are heading to the beach. Think Mexico, the Bahamas, Dominican Republic, the Turks, Caicos and Aruba.

Travel insurance is a good way to add a financial safeguard to a trip

While vaccines are readily available, Covid remains a concern for travelers. Travel insurance that includes coverage for Covid-related problems is the No. 1 search by consumers before buying a policy, according to Squaremouth’s data.

The best pandemic travel insurance includes valuable Covid-related coverage for trip cancellation, medical emergencies and medical evacuation. There are plans that offer primary medical coverage, meaning you won’t have to use your own health plan first. If you are traveling overseas, Covid medical coverage is available—it’s likely not included in your existing coverage.

Another useful coverage is “cancel for any reason” travel insurance. This coverage gives you the flexibility to cancel your trip no matter the reason. You get reimbursed 50% or 75% of your prepaid, nonrefundable trip costs under a “cancel for any reason” claim.

A hard travel lesson to learn

Many people are not aware of this regulation. Your passport has to be good for at least three months from your departure date. If it isn’t, you will not get your boarding pass. One of my friends learned this bitter lesson the hard way. He and his partner were boarding a plane for a three-week trip to Spain and Portugal in Dec. His passport expired in February. They had everything booked—Airbnbs, car, etc. They lost everything. Check the expiration date on your passport.

Traveling offshore for the holidays

If you’re looking to venture beyond the U.S. this holiday season, make sure you check the destination country’s entry requirements well before you depart for your trip. If you don’t meet the requirements, you won’t be allowed in. They sneak in little forms that need to be completed before you leave or land. If you’re flying through London Heathrow Airport, there’s a London Locator form that has to be completed online or you can’t get on the plane. Be careful and research these requirements.

I’ve traveled internationally several times in the last six months

It takes planning and stamina. Every foreign country requires a PCR test. You will need to get the (negative) results back before you leave. The results must be good for 72 hours. I flew into Bucharest, Romania. My PCR test had to stretch across a few time zones and days. Think ahead.

Covid travel also can be stressful and expensive. In a trip home from Mexico City, they didn’t like the PCR test results that I got at the Red Cross in St. Miguel de Allende. They made me get another one at the airport in Mexico City, resulting in my missing my flight. I had to purchase another ticket for $750 that routed me through Guadalajara for three hours, putting me into SFO at 10pm. All this for what should have been an easy four-hour flight home.

RELATED CONTENT: Itching to Get Away? Travel in the Time of COVID

Create a Living Trust before you leave

Regardless of where you’re traveling this holiday season, we encourage everyone to create or update your Living Trust before you leave. When creating your Living Trust with Guideway, you’ll work with a dedicated specialist who is available for questions and support throughout the process. We’ve been in business since 2003 and have expanded to three Bay Area offices–Dublin, Oakland and Walnut Creek. More than 60% of our business comes from referrals and repeat business.

Our comprehensive Living Trust package includes a Power of Attorney and Advanced Healthcare Directive. We provide a hard copy as well as a soft copy of your documents. More questions? Contact us today.

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

RELATED CONTENT:

5 Steps to Funding Your Trust

Your Living Trust: Avoiding the Pitfalls

Is It Time to Check Your Beneficiary Designations?

Winter Vaccine Season; Is a “Twofer” Right for You?

November is the month we get serious about prepping for winter–and that includes our annual flu shots. And for those with underlying medical conditions, those who live and/or work in high-risk environments, and those over 65, it’s also time to get a Covid booster shot.

For those who qualify, make it a “twofer”

The logical question follows: Is it okay to get your flu shot and COVID-19 booster at the same time? Health experts say yes, and many doctors encourage Americans to get both at once—a shot in each arm.

According to Ranit Mishori, MD, a professor of family medicine at Georgetown University School of Medicine. “Get one in each arm. It’s an efficient and effective way to make sure you’re protected.” Mishori notes that the same goes for those who are immunocompromised and might want to time their third dose to their flu shot.

As lousy as last year was, we didn’t have a flu season

Our obsessive masking, handwashing and cocooning last year meant that the flu season was nonexistent. This season’s outlook is not so optimistic. Experts are predicting a big flu surge for all the usual reasons—kids are back in school, people are traveling, airports are crowded—these are the perfect breeding grounds for infection. The lack of mask mandates in many parts of the country are also contributing to the likelihood of widespread infection.

It’s especially important for older adults—those over 65–to get both shots this year. Fueled by the surging Delta variant, Covid cases are on the rise as the flu season is kicking off.

Why the CDC updated its vaccine guidance

The agency changed its guidance in May after data showed that the Covid vaccine was safe and that other vaccines would not interfere with the immune response, experts say. “We wanted to really assess the side effects of the Covid vaccine as we rolled it out. We didn’t want to get that confused by giving other vaccines at the same time,” says William Schaffner, MD, a professor of infectious diseases at Vanderbilt Medical Center in Nashville.

According to the CDC, Covid and other vaccines can be administered “without regard to timing. This includes simultaneous administration of the Covid and other vaccines on the same day, as well as co-administration within 14 days.”

What about side effects?

It’s unclear whether getting the Covid vaccine at the same time as another shot will exacerbate your side effects. But experts say it’s possible. “You may feel worse,” Mishori says. “If you’re one of these people who often has side effects to medication or vaccinations in particular, symptoms may increase if you co-administer two different vaccines. If you plan to get “double-jabbed”, don’t make any big plans for a few days after your appointment. Ibuprofen or acetaminophen can help you feel better. Side effects are temporary and a sign the vaccines are working.

It’s also okay to space out your vaccinations

If you are concerned about side effects from two shots at once, clinicians say it’s perfectly fine to space out your Covid booster and other vaccines. Experts caution that delay increases the risk that you will get sick before you’re protected. The overriding message: Catching Covid will be far worse than any potential risk in increased side effects. The CDC recommends flu shots for everyone 6 months and older.

Those over 65 should request the high-dose flu shot

According to the CDC, those age 65 or older should request either the high-dose flu shot or the adjuvanted flu vaccine. Both produce a stronger immune response and more protection for older adults. After you get the flu vaccine, it will take 10 to 14 days before you’re fully protected. This year’s flu vaccine protects against two new influenza strains in addition to last year’s, and it takes time for your body to make new antibodies.

In contrast, it will take only two to three days for the Covid booster to kick up your immunity, experts say, because your body is already primed from your vaccines earlier this year.

What about sneaking in a shingles or pneumonia vaccine?

The CDC doesn’t place limits on the number of vaccinations you can get at the same time as a Covid vaccination. If you haven’t received a pneumonia and or shingles vaccinations, this is a good time to schedule these shots as well. Ask anyone who’s had shingles, and they’ll tell you that it’s extremely painful.

Creating/updating your Living Trust

As you prepare your home for winter and get caught up on vaccines that will help you and your family stay healthy through the coming months, this is also a great time to create or update your Living Trust. With families gathered for the holidays, it’s also the perfect time to encourage aging family members to create their Living Trusts.

RELATED CONTENT:

The Holidays: A Great Time to Get Together with Family and Talk About . . . Living Trusts?

When creating your Living Trust with Guideway, you’ll work with a dedicated specialist who is available for questions and support throughout the process. We’ve been in business since 2003 and have expanded to three Bay Area offices–Dublin, Oakland and Walnut Creek. More than 60% of our business comes from referrals and repeat business.

We’re proud of our comprehensive Living Trust package that includes a Power of Attorney and Advanced Healthcare Directive. We provide a hard copy as well as a soft copy of your documents. More questions? Contact us today.

Guideway services the entire Bay Area

Berkeley, El Cerrito, Richmond, Pinole, Alameda, San Leandro, Castro Valley Newark, San Lorenzo, Concord, Alamo, Danville, Lafayette, Orinda, Moraga, Pleasant Hill, Martinez, Pittsburg, Antioch, Brentwood, Oakley, Discovery Bay, Pleasanton, San Ramon, Livermore, Tracy and Fremont. Our clients also live in the Napa Valley, Benicia, Vallejo, Martinez, Fairfield.

RELATED CONTENT:

5 Steps to Funding Your Trust

Your Living Trust: Avoiding the Pitfalls

Is It Time to Check Your Beneficiary Designations?