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My husband's step-mother recently passed. Her older daughter is POA with both she and my husband as executers. He hasn't seen trust yet and they will be going to the lawyer this Friday. Any suggestions as to questions/concerns he should address?
Well, the POA ended at death. The Executors need to find the Will, and the Trust papers. Read those first and then ask whatever questions flow from there. Ask who is handling the tax returns. Don't expect any quick settlement, most estate laws require a waiting period which varies from state to state. In NY it is 7 months.
Will your husband and daughter be seeing the Attorney or the firm that drew up the Will/Trust? If yes, the firm will have all the papers on file. The Attorney will explain everything, but don't expect to digest everything at the first sitting.
Thanks for input. Unfortunately I forgot a significant detail.....my husband's father is still alive. He does have dementia though. I suspect this will change some of the advice. Sorry for the oversight.
If a lot of the paper work was done ages ago & I'm assuming that they did trusts & wills intertwined as a married couple, there will need to be changes as dad is now incompetent - replacing dad could change the balance of power as to the direction of the trust. Especially if it is her $$$ that feeds the trust or other assets. Things may not be all kum-ba-ya towards dad from her blood relatives now that she is gone.
For me, I would be concerned as to whether all this pose a problem or an opportunity for dad. If legal does elder law work I'd ask about this aspect. But if legal is more probate practice, well you'll need to talk to elder law guy after hubs knows what the will & trust reads. For example, most couples have each other as their beneficiary of their life insurance; for those that have 1 in a NH and on Medicaid, this could be bad news as the $ from the life insurance now makes them ineligible for medicaid, and family will have to all sorts of spend down/ reapplication etc. But if dad is at home, he may now have additional funds for caregivers. You just need to have an idea of what $$$ probably is and what dads costs for care realistically could be fir the next few years.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Don't expect any quick settlement, most estate laws require a waiting period which varies from state to state. In NY it is 7 months.
For me, I would be concerned as to whether all this pose a problem or an opportunity for dad. If legal does elder law work I'd ask about this aspect. But if legal is more probate practice, well you'll need to talk to elder law guy after hubs knows what the will & trust reads. For example, most couples have each other as their beneficiary of their life insurance; for those that have 1 in a NH and on Medicaid, this could be bad news as the $ from the life insurance now makes them ineligible for medicaid, and family will have to all sorts of spend down/ reapplication etc. But if dad is at home, he may now have additional funds for caregivers. You just need to have an idea of what $$$ probably is and what dads costs for care realistically could be fir the next few years.
Good luck with family.