What is deed fraud and how does if affect real estate? | AFX

Protecting House from Medicaid

Irrevocable Trusts

Revocable vs Irrevocable Trust

Guardianship vs Power of Attorney

Trust compared to Power of Attorney

Difference Between Durable And Springing Power of Attorney

What Is the Difference Between Durable and Springing Power of Attorney? 91 Comments Follow Comments BY MARLO SOLLITTO | Last Updated 3.15.2018 A power of attorney (POA) document legally enables a person (called the “principal”) to appoint a trusted relative or friend (called the “agent”), to handle specific health or legal and financial responsibilities on their behalf. There are two types of power of attorney that afford different legal abilities. POA for healthcare gives an agent the authority to make medical decisions on behalf of the principal. POA for finances gives an agent the authority to make legal and financial decisions on behalf of the principal. These documents are crucial for enabling trustworthy family members to help manage an aging loved one’s medical care, bills and legal affairs. This assistance is invaluable for a senior who is incapable of making informed decisions for themselves. However, POA is also useful for seniors who are still competent but simply need an extra set of hands and eyes to help manage social security benefits, bills, long-term care decisions, etc. Families should prepare these legal documents long before incapacitation is a factor. A simple accident or illness could cause a loved one to suddenly become incapacitated, but POA documents allow agents to immediately step in and help manage the situation. Without medical and financial POA, family members must go through a great deal of red tape and expense in order to obtain guardianship so they can make decisions on a loved one’s behalf. This includes healthcare decisions, especially regarding end-of-life care, long-term care decisions, Medicaid planning and much more. Read: How to Get Guardianship of a Senior Drafting POA documents well in advance is also an important part of preparing for the possibility of dementia. Most seniors do not receive a diagnosis of dementia until their condition has progressed significantly and they have suffered serious cognitive impairment. Being proactive is crucial because a principal must be competent in order to establish a POA. Many families wait until it is too late to draft these documents, and those in the later stages of Alzheimer’s disease and other types of dementia typically are not mentally capable of legally appointing agents to act on their behalf. YOU MAY ALSO LIKE Free AgingCare Guides Because timing and a principal’s ability to make informed decisions are such important factors, there are two ways to write POA documents that can affect when they become “active” or “inactive.” With a durable POA, the document becomes effective immediately upon signing. The agent obtains legal authority to make decisions about matters detailed in the document and maintains it whether or not the principal ever becomes incapacitated. On the other hand, a springing POA names an agent in advance but does not grant them legal authority for decision making until the principal becomes incapacitated. The difficulty with springing POA is that the principal must be incredibly careful when specifying what type of event will activate the agent’s powers. If it isn’t crystal clear what kind of incapacitation triggers the POA, then the family may have to waste precious time going to court to determine if the principal meets the POA document’s conditions for incompetency and whether the agents are able to assume their duties. In most cases, some sort of certification from a doctor regarding competency is required to activate a springing POA. Less common in elder care legal planning is the non-durable POA. This type of POA takes effect immediately upon signing but does not remain effective once the principal is deemed incompetent. This type of POA is usually used in business transactions and is meant to grant an agent temporary authority to sign financial or legal documents when the principal is unavailable. People often balk at the thought of preparing and signing a power of attorney document. Some may feel frightened at the prospect of losing their independence, and some are afraid that the agent they appoint may go against their wishes. It’s essential, of course, to choose an agent wisely and to discuss the scope of their ability to act on your behalf. Keep in mind that these documents can be revised or revoked at any time, as long as the principal is still competent. Otherwise, it stays in force until the principal dies. To learn more about power of attorney documents and other estate planning and legal matters, find a reputable elder law attorney in your area and make an appointment for a consultation.

Transfer of Deed on Death

REAL ESTATE LAW Transfer-on-Death Deeds By Susan N. Gary A transfer-on-death (TOD) deed, or beneficiary deed, allows an owner of real property to execute a deed that names a beneficiary who will obtain title to the property at the owner’s death without going through probate. This article examines the advantages and disadvantages of using TOD deeds and details how these deeds work. It provides several typical estate planning scenarios that highlight when the use of a TOD deed may be appropriate and when a different method should be used to transfer real property. The execution of a TOD deed has no tax consequences. Pros and cons of TOD deeds. A TOD deed solves many of the drawbacks associated with the other mechanisms available for transferring real property at death. Making a TOD deed an option will help property owners in a variety of circumstances. In contrast with using joint tenancy or a legal remainder interest, a TOD deed creates no present interest in the named beneficiary. This provides several benefits: The owner does not make a completed gift for gift tax purposes; if the owner changes his mind about the beneficiary, the owner can change the designation at any time before death; and because the beneficiary has no interest in the property until the owner dies, the beneficiary’s creditors cannot reach the property. In contrast with the transfer of property under a revocable trust or a will, the transfer of property through a TOD deed is much less expensive. In some states the cost of probate is substantial, and in any state a probate proceeding will cost more than the fees associated with a TOD deed. The TOD option also may protect owners from unscrupulous relatives. Mary Pat Toups, a California lawyer who has worked with older clients throughout her 30-year legal career, says that older people “often are persuaded to transfer their homes to their children, who then threaten to evict them so they can sell the property.” In her view, a statute authorizing TOD deeds would curb this sort of elder abuse. A disadvantage of TOD deeds is that people may use them without consulting a lawyer and may make legal mistakes. For example, an owner might name one beneficiary but neglect to provide for the possibility that the beneficiary predeceases the owner. Despite the risk of mistakes on the part of users, these mistakes may be less troubling than the mistakes that occur in connection with the use of joint tenancy as a will substitute. The loss of one’s house during life to the beneficiary or the beneficiary’s creditor is at least as problematic as the risk that the death of a beneficiary prior to the owner will disrupt the owner’s estate plan. Another concern involves challenges that may occur after the owner’s death. If someone challenges the effectiveness of a deed, perhaps based on an argument that the owner lacked capacity when the owner executed the deed, a court proceeding may be needed to resolve the issue. However, the need for court involvement, or at least the involvement of lawyers, is present in any challenge to a transfer at death, thus the concern is not unique to TOD deeds. A title company also may be reluctant to issue title insurance if a contradiction or ambiguity exists with respect to the transfer of the property. For example, the deed might direct that the property be transferred to the owner’s son, John, while the owner’s will bequeaths the same property to the owner’s daughter, Johanna. Although the owner may be confused about whether a will can revoke a TOD deed, the law is clear: The TOD deed, if validly recorded and unrevoked by a subsequent deed, controls, and the owner’s will has no effect on the deed. The same result is true with respect to deeds held in joint tenancy, so presumably once the newness of TOD deeds wears off, title companies will not be concerned with this issue. A reason for some people not to use a TOD deed is that selling the property may not be possible until four months after the owner’s death because in some states anyone with a claim against the property has four months to record the claim. This is a disadvantage as compared with either transferring property through probate or transferring property using joint tenancy with right of survivorship. Depending on the circumstances, a TOD deed will not be the best choice if the beneficiary needs to sell the property soon after the owner’s death. Missouri has had a TOD deed statute since 1989, significantly longer than any other state, and provides the most useful record of experience. Use of the deed is now wisespread and routine, and although estate planning lawyers typically use the deed for smaller estates, they also use the deed in larger estates, often for property held outside a revocable trust. Title companies in Missouri issue title insurance routinely, despite their initial concerns. Little litigation has occurred over TOD deeds, and no abuses have been reported. Specifics of a transfer-on-death deed statute. This section explains the basic structure of a statute providing for TOD deeds and identifies questions that legislators should consider in the legislative process. During the owner’s lifetime, the owner retains full power and control over the property. The property owner who wants to use a TOD deed to transfer property at his death must execute and record the deed before death. All statutes provide that the deed must be recorded to have effect. The owner of property can revoke a TOD deed at any time by executing a subsequent TOD deed or an instrument of revocation. The subsequent deed or instrument of revocation must be recorded for the revocation to be effective. Existing TOD deed statutes do not indicate the level of capacity required to execute a beneficiary deed. The level presumably should be the same as the level of capacity required to execute a will because a TOD deed, like a will, has effect only at death. The execution of a TOD deed has no tax consequences. The designation of a beneficiary is not a com-pleted gift because the designation remains revocable. Thus, the designation is not a taxable event for gift tax purposes. The beneficiary has no interest in the property until the owner’s death, and the beneficiary cannot affect or challenge the owner’s use of the property or the owner’s decision to encumber or sell the property. Delivery of the deed by the owner and acceptance of the deed by the beneficiary are not required, and the owner need not notify the beneficiary when the owner creates or revokes the deed. TOD deed statutes permit the owner to name multiple beneficiaries. Some TOD deed statutes require a beneficiary to survive the owner to take the property, and some are silent on whether survival is required. A TOD deed can contain a series of contingent successor beneficiaries to provide for the possibility that several of the named beneficiaries may not survive the owner. When a property owner executes a TOD deed, the owner should consider whether to name one or more contingent successor beneficiaries. The owner should exercise particular care to provide for successor beneficiaries in situations in which the death of a named beneficiary may cause a disruption in the estate plan. Title vests in the beneficiary at the owner’s death. The beneficiary takes the property subject to all interests affecting the title to which the owner was subject, as well as any interest in the property of which the beneficiary has actual or constructive notice. Susan N. Gary is a professor of law at the University of Oregon School of Law. Copyright 2007 FOR MORE INFORMATION ABOUT THE REAL PROPERTY, PROBATE AND TRUST LAW SECTION This article is an abridged and edited version of one that originally appeared on page 60 of Probate & Property, March/April 2007 (21:2). For more information or to obtain a copy of the periodical in which the full article appears, please call the ABA Service Center at 800/285-2221. Periodicals: Probate & Property, bimonthly magazine; Real Property, Probate and Trust Journal, quarterly journal ; and the new, bimonthly RPPT e-Report. CLE and Other Educational Programs: Watch out for RPPT’s monthly CLE teleconferences; for more information, please visit our website. Books and Other Recent Publications: Current Condemnation Law: Takings, Compensation and Benefits, 2d ed.; The Lease Manual: A Practical Guide to Negotiating Office, Retail and Industrial Leases; An Estate Planner’s Guide to Buy-Sell Agreements for the Closely Held Business, 2d ed.; Family Limited Partnership Deskbook: Forming and Funding FLPs and Other Closely Held Business Entities, 2d ed . Back to Top

Spring Clean up

Cancer Signs of Pancreatic

5 Warning Signs of Pancreatic Cancer The disease is very difficult to detect, but sometimes there are signals by Kim Hayes, AARP, January 31, 2018|Comments: 44 woman looking sadly at bite of food on fork MONKEY BUSINESS IMAGES / GETTY IMAGES Loss of appetite and unintended weight loss can be warning signs of pancreatic cancer. Although pancreatic cancer can be treated if caught early, the signs are often subtle, and the disease is usually missed until it is in later, more serious stages. But there are some warning signs that you can watch out for. The pancreas has two main jobs in the body: to make juices that help digest food and to make hormones, such as insulin and glucagon, that help control blood sugar levels. The digestive juices are made by exocrine pancreas cells, which is where about 95 percent of pancreatic cancers begin. The disease accounts for approximately 3 percent of all cancers and about 7 percent of all cancer deaths, according to the American Cancer Society (ACS), and the risk goes up with age. About two-thirds of patients are at least 65 years old, and the average age at the time of diagnosis is 71, according to the ACS. Only 8.2 percent of pancreatic cancer patients survive for five years, according to the National Cancer Institute (NCI). The pancreas is deep inside the body, and early tumors can't be detected by standard physical exams. People usually have no symptoms until the cancer has already spread to other organs. Even so, the NCI advises people to consult their doctor if they have any of the following symptoms: Jaundice: This yellowing of the skin and whites of the eyes is caused by the buildup of bilirubin, a dark yellow-brown substance made by the liver. Cancers starting in the head of the pancreas are near the common bile duct, according to the ACS. This type of cancer may press on the duct and cause jaundice, which could lead to finding the tumors at an early stage. But cancers that start in the body or tail of the pancreas don't press on the duct until after they have already spread through the pancreas and possibly beyond. Dark urine, too, can be a sign of jaundice, and bilirubin buildup can also lead to itchiness on the skin. Light-colored or greasy stools: Bilirubin helps give stools their brown color, so when the bile duct is blocked, stools may be gray or pale. Pancreatic cancer can also make it difficult for the intestines to help break down fats, so stools may become greasy and float in the toilet. Belly pain: Pain in the abdomen (belly) or back is common with pancreatic cancer. "Cancers that start in the body or tail of the pancreas can grow fairly large and start to press on other nearby organs, causing pain," the ACS says. "The cancer may also spread to the nerves surrounding the pancreas, which often causes back pain. Of course, pain in the abdomen or back is fairly common and is most often caused by something other than pancreatic cancer." Loss of appetite and weight loss: Unintended weight loss and loss of appetite can be warning signs of pancreatic cancer. Nausea and vomiting: The cancer can press on the far end of the stomach and partially block it, making it hard for food to pass. This may cause nausea, vomiting and pain after eating. A more detailed list of symptoms is available from ACS. Prevention While some risk factors for pancreatic cancer cannot be controlled, such as age or genetics, there are steps you can take to reduce your risk. Stop smoking. About 20 percent to 30 percent of pancreatic cancers are thought to be caused by cigarette smoking; smokeless tobacco products are also a factor. Lose weight. Very overweight people are about 20 percent more likely to develop pancreatic cancer, and carrying extra weight around the waistline may be a risk factor even for those who aren't that overweight. Limit exposure to certain chemicals. Heavy and repeated exposure to certain chemicals in the workplace, such as those used in dry cleaning and metalworking, may raise a person’s risk of pancreatic cancer.

Six Signs Your Relationship Won't Last Long Term

6 Signs Your Relationship Won't Last Long Term Her Campus Logo By Kayla Dungee in RELATIONSHIPS Posted Mar 07 2018 - 02:00pm Tagged RELATIONSHIPS BREAKUP LONG TERM COUPLE LOVE Share this Not every relationship you experience leads to happily ever after. You can’t mold someone into your idea of prince or princess charming — sometimes two people just don’t work out. Whether you can sense the shakiness in the beginning of the relationship or years down the line, sometimes it’s best to trust your gut feeling. Here are six telltale signs that the relationship you’re in won’t last long term. 1. You mistake comfort for love While it’s important to feel comfortable in your relationship, comfort is one of the key reasons why people stay in relationships that have long passed their expiration date. It can be nerve-wracking to put yourself in the dating pool again, and it’s even easier to hold on to a relationship because of the history you and your SO have. If you find yourself recounting the reasons of why you guys are together and the main reason is because “you’ve been with him for a long time,” you should realize that complacency does not lead to happiness. Lauryn Higgins, a graduate student at the University of Nebraska-Lincoln, knew that her long-term relationship wouldn’t last just because of the longevity. “I was in a three-year relationship and when a friend said to me, ‘Would you want your daughter dating the guy you’re with?’ And my first thought was, ‘I would want more for her,’ I knew I had to start having a conversation with my SO,” she says. Evaluate if just feeling okay within your relationship is where you want to be. Love should be the most gratifying feeling in the world and should never be confused with complacency. 2. You feel like a secret On the contrary, there’s the classic “situationship,” which we’ve all been in or witnessed. Just like you can’t mold a person into your version of perfection, there is no way to force someone into a relationship they don’t want to be in. Ashley Drayton, a Georgia State University graduate, knows that your relationship will remain at a standstill without a few key elements. “If he’s content with having a situationship, staying in the house instead of going on dates, he seems to be hiding you or parts of his life, and he doesn’t put a lot of effort into things regarding you, it’s not going anywhere,” she says. At this point in life, if someone wants you to be a part of their life, it will be clear to you. You shouldn’t be left guessing whether or not you might have a chance of working out. 3. You give and give, and they take and take Sacrifices and compromises are a part of any relationship. However, they should not be coming from only one end. It’s not a good sign if you give so much of yourself to someone with little investment in return. You can easily burn out early on in a relationship if you are constantly giving. Megan Scavo, a sophomore at the University of Central Florida, knows from personal experience that selfishness can cause a relationship should go downhill quickly. “If your SO expects you to plan your entire life around them, such as school, work and friends, it’s not going to last too long,” she says. If you find that you are the only one sacrificing up your time, money and energy, recognize that that is not normal. 4. Your friends and family can tell it won’t last Nobody is in your relationship but you and your SO, so sometimes it can hard for outsiders to judge your relationship. However, the saying “Mama knows best” may not be so cliché in this case. Love can blind you enough to the point that you don’t recognize warning signs. “If your friends tell you they don’t see you with him forever or that he’s not the one, listen,” Megan says. “Your friends know you better than you know yourself sometimes.” You may have that one friend who doubts every relationship you get into, but if the overwhelming majority of your friends and family do not see things working out for the best, you should at least listen to them as to why. They have a more objective view of the relationship. Plus, if they know you well enough, they can tell when things just click and when they don’t. Related: 5 Ways to Let Go of a Relationship That Ended Before it Started 5. You try to justify bad behavior Your SO is not immune from making mistakes. It’s completely understandable to forgive small mistakes, but your SO should not get a free pass on everything. Something that should be immediately addressed is any form of abuse. “If he says rude things or degrades you, even if it’s out of character when angry, that’s a definite red flag,” Megan says. “Way too many women put up with that too long.” Rachel Petty, a senior at James Madison University, advises women to trust their gut feeling when it comes to a bad feeling about a relationship. “If you find yourself making excuses for your SO and letting big things slide, that’s a sign you should probably end things,” she says. “If something doesn’t feel right, it probably isn’t.” You can't shake off your intuition telling you something is wrong forever. In many cases, our feelings of uneasiness are justified. 6. Your core values do not align Opposites attract in many cases, but in some cases they cannot work long term. Having differences with others is what makes humans unique, but some differences may be too big to ignore. Alyssa*, a junior at Kennesaw State University, could not look past a difference in religion between her and her SO. “I am religious and my ex was not,” she says. “At first, I looked past this difference. But when he became comfortable enough, he would essentially make fun of me for believing in something. That’s where I had to evaluate if I could handle that intolerance for years to come.” The important thing to remember is even though you and your SO have differences, there should be mutual respect for each other’s beliefs. You should never feel ashamed or scared to practice your beliefs because your SO believes the opposite. Envision your future a few years down the road. If you cannot see your future with your SO and their current behavior, it is time to have a conversation with them. Whether or not you chose to end things or work on things is up to you, but know that you do not have to put up with behavior that doesn’t mesh with you.