As you recall, a few months ago I promised to get our will complete. At first, I attacked the project with diligence, however, life interrupted and the will took a detour; now it is time to brush it off and continue.
Since Lynn and I travel together most of the time it is vital that this task is done. If something happened to both of us our children would have to muddle through the mélange of paperwork, codes, accounts, and, well, you know, the debris of life.
To add to this work, the more I talk with caregivers and thoughtful others, I realize that law changed, important details are re-arranged, and that no matter how hard I try, I’m unable to stay afloat.
To begin, Powers of Attorney. In the not-too-distant past PoAs, once filled out and witnessed, felt rock solid.
The Nevada Legislature decided that in the interest of the personal autonomy, every Nevadan, even those with dementia or other cognitive decline, had a right [I agree] to change recipients and directives.
In strong, united families, no problem exists, but sometimes nefarious others step in and on a day when the person with mental faltering appears capable of rigorous decisions, even those that are not in the best interests of this person, that person may fall under the influence of another and sign away properties and rights. Suddenly life may have taken a drastic turn leaving a loved one in dire straits. Keep communication open and conversation wide.
Next, is your home, whether owned or with a mortgage, protected under the Homestead Act? I simple piece of paper, filed with your county Recorder, protects your home in case of enormous bills that cannot be met other than through home sale. Your home is your castle; you deserve to live there without threat or question. County recorders have all the information you need and while they do not supply legal advice, their knowledge is vast.
How about Deed Upon Death for real property? Again, the recorder has the necessary paperwork so that you can give your home or other real property to a designated individual or individuals upon your death avoiding probate and hopefully family turmoil.
Lately, I learned a couple of things that remind me that done is never done and I have more to research.
The Deed needs to be completed several years ahead of time and is not meant to shield someone from medical debts, for example. In the case of the latter, hospitals may be allotted their due share before the property can be inherited.
Also, if the person chosen to inherit lives outside of Nevada, there are additional rules (and probably costs) – nothing can be too simple. Consult a lawyer or other law specialist to ensure that all of your ducks are in a row and not flying south for the winter.
Next comes the paperwork – original Certificates of Death are necessary to settle many items such as closing out bank accounts, paying bills if there is not another signatory, insurance benefits, and… more.
Some of these can be settled somewhat in advance like having two or three names on accounts or Paid on Death certificates for life insurance.
But and you knew there would be a but, a Death Certificate will be needed to take a name off of an account or to close out an account. A friend’s Dad passed away 25 years ago. When she asked the bank to take her dad’s name off the joint bank account no problem appeared to exist. However, the name came off her checks, but her dad’s name stayed on the account. No transfer possible without Dad’s signature (or death certificate).
Finally, watch out for matching names and initials. Another example, AJ Jones, better known as Allen Jeffery are duplicate names of father and son. When Dad died, a confusing error arose as to whose life had actually ended. A death certificate became futile because it matched Dad but not son. When son appeared to close an account for his father he couldn’t because – guess! – obviously Son was alive. Which AJ/Allen Jeffery was being referenced? Now I haven’t heard the end of this predicament, but I imagine proving you are live is harder than proving you are not.
Most importantly, to be sure everything is in order, consult an attorney. For those over 60, Nevada Legal Services may be just the ticket – and it’s free!