• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • Speaker Connection
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate Planning Services
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Wills & Trusts
  • Elder Law
    • Coping with Alzheimer’s
    • Guardianship and Conservatorship
    • Medicaid Crisis Planning
    • Medicaid Planning
  • Seminars
  • Webinars
  • Resources
    • Communities We Serve
      • Keller, Texas
    • Elder Law Resources
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
    • Estate Planning Resources
      • 3 Reasons to Create a Trust
      • Estate and Gift Tax Figures
      • Estate Planning Articles
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Estate Planning Worksheet
      • Is Your Estate Plan Outdated?
    • Free Consultation
    • Free Estate Planning Seminars
    • Frequently Asked Questions
      • Estate Planning
      • Trust Administration & Probate
    • Newsletters
    • Our Client Care Program
    • Pre Consultation Form
    • Professional Resources
      • Educational Alerts
  • Reviews
    • Review Us
  • Contact Us
  • Blog

McGee Law Firm

Your Resource for Estate Planning, Elder Law and Medicaid / VA Planning

Call Us Today 817-899-3286
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
Attend a Free Webinar
Home / Estate Planning / The Passing of a Loved One

The Passing of a Loved One

January 19, 2022 by Brandon McGee

Compliments of the McGee Law Firm, Attorney Brandon McGee

It is the call we all know will come one day.  One or both of our parents have fallen seriously ill.  Of course, our first reaction is concern.  But, after the shocking moment has passed, we wonder “what do I do now?”

If your parents have done effective legacy wealth planning, they would have some or all of seven elements that would ease your path.

First, a Health Care Power of Attorney (sometimes referred to as a Health Care Directive, Living Will, or Health Care Proxy) will designate a person to make health care decisions for them when they are unable to make decisions for themselves.  

Second, but related, is a “HIPAA” Power.  The Health Insurance Portability and Accountability Act has restricted access to health care information so loved ones may be denied necessary information such as whether the person is even in the facility.  This HIPAA power allows the designated family members to cut through this information barrier.  

Third, a General Durable Power of Attorney appoints an agent to act for your parents upon incapacity.  This power of attorney deals with financial and property matters.

Fourth, a Revocable Living Trust enables your parents to move title of assets into the trust, thereby avoiding the potentially cumbersome probate process.  During incapacity, the successor trustee (such as you) can step in seamlessly and manage the assets.  With a Trust, probate is avoided and the administration fees at death can be up to fifty percent less than what they would be if the assets were subject to probate.

Fifth, a Pour Over Will takes anything that was overlooked and places it in the trust at death.  While the assets which had been overlooked may be subject to probate, they will be moved into the trust in a coordinated plan.

Sixth, your parents can choose to set up a Funeral Trust to pay for their funeral services and cremation or interment.  With a Funeral Trust, assets are set aside safe from creditors and the Medicaid authority so they will be there at death and the burden of paying for the funeral will not fall on you or your siblings.  With a Funeral Trust, your parents need not choose a funeral home now, which can be important given they may move later in life to be closer to family, health facilities, or warm weather.  

Seventh, the most frequent fights upon the passing of a parent are not about the money, but about non-financial assets, such as your grandmother’s quilt or wedding ring.  A holistic legacy plan can pass on your parents’ hopes, values, life stories, and family heirlooms.  

While the final illness and passing of a parent is always difficult, these seven estate planning elements can smooth their passing.  Further, this smooth transition can avoid unnecessary strain on your family when it is already emotionally vulnerable.  A qualified estate planning attorney can help you or your parents set up an effective plan.

Written By: The American Academy of Estate Planning Attorneys

  • Author
  • Recent Posts
Brandon McGee
Brandon McGee
Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.
Brandon McGee
Latest posts by Brandon McGee (see all)
  • Grandparents as Parents: Planning is Critical - June 1, 2023
  • An Irrevocable Trust Need Not Be Scary - May 30, 2023
  • Don’t Procrastinate: Five Reasons To Plan Your Estate Now - May 25, 2023

Filed Under: Estate Planning Tagged With: powers of attorney

About Brandon McGee

Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.

Primary Sidebar

Blog Subscription

Sign up for our estate planning blog to receive all of our latest news and updates!

  • This field is for validation purposes and should be left unchanged.

Follow us

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

TESTIMONIALS

Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

default image
Brian C.

Fort Worth Address

Fort Worth
810 W. 10th Street
Fort Worth, TX 76102
United States (US)
Phone: (817) 899-3286
See Larger mapGet Directions

Fort Worth Map

map

Southlake Address

Southlake
101 River Oaks Dr., Ste. 110
Southlake, Texas 76092
United States (US)
Phone: (817) 899-3286
See Larger mapGet Directions

Footer

  • Advantages of Working With our Firm
  • About the American Academy
  • Disclaimer
  • Sitemap
  • Contact Us

Connect to Us

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
footer logo

© 2023 McGee Law Firm
All Rights Reserved