Mary was concerned that she would soon need nursing home care. She did not want her funds used up in long term care expenses so she gave her only son, Joe, her life savings of $100,000. One year after giving Joe the money Mary experienced a major health crisis and needed to move into a nursing home.
I’d like to tell you a story about Tom, an imaginary middle aged man. Tom passed away after a long illness. Anticipating his demise, Tom planned his estate by himself and made sure everything was “in order.” He prepared his own will from one he found online.
You would be surprised how many times we get that call in our office. A Daughter or son calls and wants us to prepare a “simple” power of attorney for the parent. But it doesn’t always work out. Before anything else we ask, “Why is your parent not calling?” The answer to that question will tell us so much.
Years ago all attorneys, it seemed, kept their clients’ original wills and estate planning documents in a vault in the office. But at that time most people lived in the same house or town until they died. Today, people are so much more mobile, moving from one community to another, and one state to another, even late in life.
It seems everyone knows a story about someone without a living will, but does it spur you on to make one? If not, please let me tell you mine.
Too many years ago at too young an age, my mother ended up on life support with no hope of recovery.