January 21, 2022
Creating Your Own Rule Book Vs Government’s Rule Book | Disability Documents
In this episode, Chris Berry answers: If someone is in a hospital, unable to communicate without a POD for medical or financial or will, what can we do?
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm. Register via this link or give our office a call at 844-885-4200.
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If someone is in the hospital unable to communicate without a pod for medical or financial or will what can we do? Welcome to Berry’s Bites.
Please join our host attorney and financial advisor Chris Berry. Any comprehensive estate plan typically we’re doing a trust not always but typically we do and a will these two things typically handle like after death issues and then we need what we call disability documents and that’s going to be a financial power of attorney medical power of attorney sometimes we do what’s called a personal care plan. So we call these disability documents so these are the documents that point to someone to make financial decisions medical decisions if you’re unable to these typically handle after death issues but the trust can also handle issues while you’re alive including asset protection so understand that by creating this comprehensive estate plan what you’re doing is you’re creating your rulebook all right and most people want to rely on on the rules that they create versus relying on the government’s rulebook well the government’s rule book is probate and there’s two types of probate so you can have probate upon death that’s where you didn’t title things properly and now someone’s left in some deceased person’s name and then you can also have probate while living and probate while living takes two forms one is a guardianship so that’s going to make decisions with regards to someone’s care and then if you happen to have money and I forget what the limit is now.
I think it’s 100 100 000 then you also need a conservatorship where now at the end of the day it’s going to be the judge who’s deciding everything they might let you make some decisions but now you have to run everything through the courts the judge so if you have someone in a hospital and they’re unable to communicate and they don’t have their own rule book then you’re probably going to have to go to court and petition the court for a guardianship or a conservatorship our office doesn’t specifically handle that but you can contact us and we’ll get you in contact with one of our attorneys that do handle those guardianships or conservatorships our job we try to keep people out of court that’s why we focus so much on the planning side of things. Thank] you