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Do I need to set up a medical directory directive? Yes, you should. The medical directive has a HIPAA waiver in it, which authorizes the hospital to release your information to a third party. Without this, without a HIPAA waiver, they’re not supposed to discuss your medical condition or release your records to anyone. Many times you sign this in the doctor’s office, but if you go into the hospital and you’re not able to sign these releases or a hip waiver, then they’re not supposed to discuss this with anyone. So that’s the purpose of the medical directive, is to authorize someone to be able to find out how you’re doing in the hospital, that’s a HIPAA waiver, and also access your medical records. That also allows them to make medical decisions for you if you’re unable to do so. They do not have a right to override your decisions or either verbal or written that you’ve given if you go into the hospital. So, yes, you should have a medical director, which is a designation of a healthcare cert. If you have any questions, please call me at (727) 847-2288.

WHAT IS A MIRROR IMAGE WILL

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What is a mirror image will? A mirror image will is whenever two persons name each other as the beneficiary. So,say Mary Jones says I leave everything to John Brown and John Brown in his will turns around and says, I leave everything to Mary Jones. You usually go further that says that the event that either Mary Jones dies or, he either one of ’em passes away, they name the same, alternate beneficiaries and name each other as their executors. And then depending on the circumstance, whether they name it the same alternate personal representative. So the mirror image will particularly, as far as husband and wife is concerned, but it doesn’t have to be a husband and wife. They basically name each other. And the terms of their wills are the same whenever either one of them passes away. So if you will give a call (727) 847-2288.

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Are my asset protected from creditors if I set up a trust? If you set up a trust for state planning purposes, for the in order to avoid probate, and you designate yourself as trustee, your assets are not protected from creditors. You have control over these assets and if a creditor obtains a judgment against you, they can attach a levy upon any asset that you hold as trustee, under your trust as if they were just in your name alone. So setting up a revocable trust, does not protect your assets from creditors. You have questions about this. Give me a call at (727) 847-2288.

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Can I contest the handling of money by my power of attorney representative? The answer is yes, under Florida law. The power of attorney who is now called an agent is responsible to prepare an accounting of the handling of any of your monies. I find that most of the time they do not do that, particularly if they’ve mishandled it, but certainly you can sue them for if they used the money improperly and that they have a, what they call it. They’re in a position of trust called a fiduciary relationship and they don’t use the money for your behalf or what they’re authorized to use it for. They are reliable to you for any abuses of the power of attorney. You have any questions, give me a call at (727) 847-2288.

 

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When should I update my estate plan? You should update your estate plan when there’s a change in circumstances. This is usually whenever the beneficiary passes away. Particularly whenever you have a husband and wife situation and you lose your spouse, that’s a good time or a reason to update your will to them. Look at your designated beneficiaries to see if they’re still the same. And also as far as selecting who your personal representative, if you want to be and do further estate planning in order to avoid probate. Also, if your personal representative becomes disqualified or dies, that’s another change in circumstance that you may wish to change your will or update your estate planning documents. Also, there can be changes as far as your children or your beneficiaries are concerned, their life, changing situations such as, alcohol or drug abuse. And if you wish to eliminate them while you should update your estate planning documents, or even who you wish to have as your power of attorney, or can make medical decisions for you. So if you have any questions, give me a call at (727) 847-2288.