SMART STEPS FOR PRESERVING YOUR INDEPENDENCE Your Life, Your Terms
As an ancient philosopher once said, freedom is the power to live as one wishes. Maintaining that power is one of the highest priorities for aging adults who want to remain in control of their lives. In recognition of Independence Day, July is a good time to look at strategies for maintaining your independence. Many older adults do not want to become a burden to their families or have someone else call the shots on where they live or how they spend their final years. We have several ways of helping our clients maintain control over their lives. Our colleague Ronda Gabb believes pre-planning for incapacity is more important than planning for death. If you haven’t done any advance planning and suddenly become incapacitated by a stroke, illness, or accident, someone will need to manage your affairs, pay your bills, and make decisions about your care.
One effective way to guard against an interdiction is to create two strong power of attorney documents. One governs health-related issues and confers decision-making authority to a trusted person of your choice. (A document called a living will, or advance directive, serves a similar purpose.) The other power of attorney transfers decision-making authority over your property and assets to a trusted agent to make crucial decisions on your behalf. Another way of accomplishing this is to establish a revocable living trust, overseen by a trustee capable of overseeing your affairs. Sky-high long-term care costs can also easily destroy your hard- earned nest egg unless you engage in pre-planning. The most widely used strategy is a Medicaid Asset Protection Trust. When assets are transferred correctly to this kind of trust in advance, it can help an older adult qualify for Medicaid assistance and shelter assets from Medicaid reimbursement claims after they pass away. After we help our clients work through these issues, many breathe a sigh of relief that they have done everything possible to maintain control over major
Unless you plan ahead for this possibility, you could face an interdiction — a costly, humiliating court proceeding whereby a “person of standing,” such as a family member, asks a court to declare you incompetent and appoint a curator to oversee you and your affairs, and it may not be anyone you would have chosen. An interdiction also precludes wise planning for Medicaid eligibility, as discussed below.
life decisions. Call us today to review your estate plan. We will happily help you ensure the maximum possible independence through your golden years.
GARLIC PARMESAN SHRIMP
“Chip Morrison is top-notch in his field and a consummate professional. Strongly recommend!” ~ Leanne T. “We were happy to have Chip Morrison draw up our wills, powers of attorney, and develop a trust for our adult children’s inheritance. He’s a to-the-point, clear-talking guy. We really appreciated the way he explained everything and showed us what choices we could make. Highly recommend!” 5-STAR REVIEWS
INGREDIENTS
Inspired by CooktopCove.com
• 3 tbsp olive oil • 4 cloves garlic, minced • 1/2 cup grated Parmesan cheese • 1 tsp Italian seasoning • 1/2 tsp salt
• 1/2 tsp black pepper • 1 pound large shrimp, peeled and deveined • 2 tbsp chopped fresh parsley • Juice of 1 lemon
DIRECTIONS
1. Preheat oven to 400 F. 2. In a bowl, combine olive oil, garlic, Parmesan cheese, Italian seasoning, salt, and pepper. 3. Add shrimp to the bowl and toss until fully coated. 4. Arrange the shrimp in a single layer on a baking sheet. 5. Roast in the oven for 7–9 minutes or until the shrimp are pink and slightly golden. 6. Remove from the oven and sprinkle with chopped parsley and fresh lemon juice before serving.
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