Estate planning essentials the sandwich generation fall 2012

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Estate planning essentials the sandwich generation fall 2012

  1. 1. FACING THE LEGAL CHALLENGES OF THE SANDWICH GENERATION FALL 2012
  2. 2. John Montagu, 4th Earl of Sandwich
  3. 3. THE SANDWICH GENERATION
  4. 4. John Montagu, 11th Earl of Sandwich
  5. 5. HAVING A WRITTEN PLAN • Control of Administration and Distribution • Disinheritance • Planned Giving
  6. 6. POWERS OF ATTORNEY• Durable Power of Attorney• Patient Advocate Designation• HIPAA Release
  7. 7. NO WRITTEN PLAN IN PLACE…• Guardianship oCourt appointed oMedical care oFood, clothing, shelter needs• Conservatorship oCourt appointed oFinancial issues
  8. 8. LONG TERM CARE• Long Term Care Planning• Medicaid Planning• Veteran’s Benefits• Abuse and Neglect Issues
  9. 9. DON’T FORGET ABOUT YOU AND YOUR CHILDRENProtection for minor children:• Guardian• Conservator• Testamentary Trust• Special Needs
  10. 10. TAKE ACTION – DON’T WAIT• Make sure estate planning documents are up to date• Review plans annually• Don’t try to do this yourself
  11. 11. Presented by: HOWARD H. COLLENS GALLOWAY AND COLLENS, PLLC 26075 WOODWARD AVENUE SUITE 200HUNTINGTON WOODS, MICHIGAN 48070 (248) 545-2500 GALLOWAYCOLLENS.COM Howard@GallowayCollens.com Twitter: @howardcollens

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