Vincent, Romeo & Rodriguez, LLC
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Denver Elder Law Blog

Advance medical directives part of the estate planning process

Once the will is drafted, many Colorado individuals assume that they have adequately prepared for the future. While this important document does identify how assets are to be divided and who will take care of any minor children, it does not address one's wishes in the event that an illness or injury prevents the individual from making decisions for him or herself. For this reason, advance medical directives should also be drafted for each individual.

Most people have specific desires regarding their medical treatment. For example, some want every measure possible taken to extend life. However, others do not want extreme measures taken if there is little to no chance for recovery. If these wishes have not been expressed, loved ones will be left having to assume what the individual would prefer.

How to avoid common estate planning mistakes

Estate planning goes a long way in protecting your family. Many families fail to understand how common mistakes can impact their future. What can you do to protect your loved ones and your assets?

The best way to protect your family is to understand the different type of estate planning mistakes and what steps to take to keep your estate plan strong. Below is a list of mistakes, and what you can do to avoid these mistakes in the first place:

Investing in long-term care insurance provides peace of mind

It’s not easy to discuss what happens when we can no longer care for ourselves or someone we love cannot care for themselves. No one likes having the conversation, especially when it feels like that time is still a long way off.

The benefit, however, of thinking about it now – no matter how uncomfortable it may be – is that you can plan ahead for quality care when you need it and protect your future finances. One of the best ways to do this may be to invest in long-term care insurance now, before you or a loved one needs it.

Know the warning signs of financial elder abuse

Financial elder abuse is a growing issue for families in Colorado. As adults age, they face a higher risk of being victims of elder abuse, including financial abuse and exploitation. Financial abuse can significantly impact your family and make it difficult for you to pay for your parent’s care as they age.

Here’s what you need to know about financial abuse

How to avoid common mistakes when caring for aging parents

Adult children are looking after their elderly parents more often than in the past. Caring for your aging parent can help you maintain a close relationship with them, but it can also carry a lot of extra stress. This is especially true when siblings cannot agree to the type of care their parents will receive and the cost of that care.

What can siblings do to prevent disputes?

The persistence of the woman claiming to be Dali’s daughter

Maria Pila Abel is taking great lengths to prove that her father was a famous surrealist painter best known for The Persistence of Memory, a 1931 classic featuring melting clocks in a desert landscape. Born in 1956, she alleges that Salvador Dali and her mother – who worked for a family near Dali’s Cadaques, Spain, home – had an affair.

Her mother and grandmother had relayed the story for years that Dali was her father, in spite of the artist’s claims throughout his life that he never had children.

Hiding in plain sight: Elderly financial abuse within a family

The elderly are besieged with scams as close as their front doors, particularly over the summer months. So-called window salespeople, alleged stockbrokers, and supposed in-home care “professionals” prey on older people. These unfriendly neighborhood con artists” offer “services” too good to be true.

Sadly, predators can come in other forms. Family members hide in plain site with, at best, dubious intentions. They exploit the isolation of those who are trusting to a fault and just want someone around. Even more tragically, they succeed far too often in getting an elderly loved one to part with their money.

Keys to avoiding nursing homes

While the proliferation of nursing homes and assisted living centers continues to grow in Colorado, the desire for independent aging is also garnering more attention. Of course, there are a number of benefits to aging outside of a nursing home. The financial impact is undeniable and many elderly Californians (and their family members) probably prefer that they stay at home.

Of course, there are no guarantees when it comes to maintaining good health, but a recent study highlighted on revealed several strategies that can help those going into their golden years avoid the need for a nursing home. 

Business succession tips for women business owners

The growth in the nation’s economy since the last recession is unquestionable. It has spawned a number of small businesses, particularly the number of new enterprises owned by women. According to a number of media reports, more than nine million small businesses are owned by women, which accounts for about a third of all active businesses across the country.

And like their male counterparts, women should plan for their personal futures with just as much detail as their businesses. With that, estate planning should be a part of their business planning. This post will focus on a few things that should be part of a business owner’s estate plan.   

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