http://www.bankaholic.com/finance/choose-long-term-equity-indexed-annuities-wisely-2/ Blogging about personal finance, foreclosures, mortgages, interest rates, and budgeting. Wed, 18 Nov 2009 03:45:46 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.bankaholic.com/finance/choose-long-term-equity-indexed-annuities-wisely-2/comment-page-1/#comment-4074 Melissa Indpls Thu, 25 Sep 2008 05:30:06 +0000 http://www.bankaholic.com/finance/?p=138#comment-4074 "Protect" is the key word here. There are tons of stories about POAs who turned out to be greedy and have used their POA as a "power to steal". I'm not a legal guru by any means, just your average person who witnessed the mistreatment of an elderly relative's trust by lying POAs and a lying trust allocator from a so called prestigious company. Oh yes, and a Will that mysteriouly disappeared! Know that you must bulk up your trust, etc. and provide for that if your wishes are not followed, or you are mistreated during your time of need, that no beneficiary you have listed shall receive their "payment" after you die, and have the inheritance left to charity or whatever. I hope this is clear. I know of a person who added a provision that they shall not ever be put into a nursing home, and if they are by their POA then the inheritance $ will go to a charity and not to the listed family beneficiaries. Secondly, I hear it's expensive to list a home's entire content in the trust and most people lean on their Will to take care of this. My relatives POAs took them to an attorney at the time they were ill/incapacitated, and had them sign everything over to them so they could be the POAs. Within months the relative was thrown into a nursing home and then put the home/contents up in an estate sale after the POAs took what they wanted. It was during this time the Will disappeared. Trust only yourself and put into writing, in the necessary legal documents, your wishes and how your health matters should be handled, etc. “Protect” is the key word here. There are tons of stories about POAs who turned out to be greedy and have used their POA as a “power to steal”. I’m not a legal guru by any means, just your average person who witnessed the mistreatment of an elderly relative’s trust by lying POAs and a lying trust allocator from a so called prestigious company. Oh yes, and a Will that mysteriouly disappeared! Know that you must bulk up your trust, etc. and provide for that if your wishes are not followed, or you are mistreated during your time of need, that no beneficiary you have listed shall receive their “payment” after you die, and have the inheritance left to charity or whatever.
I hope this is clear. I know of a person who added a provision that they shall not ever be put into a nursing home, and if they are by their POA then the inheritance $ will go to a charity and not to the listed family beneficiaries.
Secondly, I hear it’s expensive to list a home’s entire content in the trust and most people lean on their Will to take care of this. My relatives POAs took them to an attorney at the time they were ill/incapacitated, and had them sign everything over to them so they could be the POAs. Within months the relative was thrown into a nursing home and then put the home/contents up in an estate sale after the POAs took what they wanted. It was during this time the Will disappeared. Trust only yourself and put into writing, in the necessary legal documents, your wishes and how your health matters should be handled, etc.

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