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Planning for Life’s Unexpected Turns

When we are young and fearless, not yet feeling our own mortality, we do very little planning ahead. However, as we grow older and take on greater responsibilities, we begin to address the future differently. We may use that new foresight to develop a retirement plan for when we leave the workforce and create wills to provide for our loved ones when we are gone. What we often fail to prepare for are circumstances, whether due to an accident, illness, or mental decline, which interfere with our ability to make reasonable decisions and meet our daily needs. Anticipating that kind of a challenge requires only a few documents appointing someone you trust to make decisions on your behalf, and you are rarely too young to start.  
 
Power of Attorney (POA):   
 
A POA names an “agent” who can act as your financial and legal representative. There are three main forms of POAs, though their names and how they’re constructed may  differ from state to state.
 

Financial Abuse of Seniors: How to Uncover and Prevent It

{3:00 minutes to read} One of the unfortunate realities of aging is an increase in vulnerability. We all know seniors are prone to falls and illness, but there are other areas of danger that caregivers and family members should be aware of.

Despite the availability of information, instances of elder abuse can take many forms and be difficult to uncover. One of the more prevalent types of abuse dealt with at Eddy & Schein is financial abuse, which can result in major losses when left unchecked.

Eddy & Schein Celebrates 15 Years of Service!

{4:35 minutes to read} The first seed of Eddy & Schein, Inc. was planted in 1990 when Rebecca was hired by a friend to pay bills while she and her husband were out of the country for six months. She has been Rebecca’s client ever since. Meanwhile, Gideon was caring for his ailing mother, and subsequently her best friend, which was the impetus that led him to take on his first paying client.

Rebecca and Gideon, colleagues in another line of work, shared insights on best practices for clients with each other, and out of that collaboration grew their new company, Eddy & Schein. It was incorporated in November of 2000.

Daily Money Managers: Agents Under a Power of Attorney, Trustee or Executor

{4:35 minutes to read} Have you been struggling to identify trustworthy agents under power of attorney (POA), trustees or executors for yourself, your loved one or your clients? 

With an aging population in which many people don’t have adult children or younger friends to whom they can turn, there is a growing need for people who can be fiduciaries. Some Daily Money Managers (DMMs) who choose to perform these duties and are properly insured, may be the right choice as fiduciaries.

Vigilance Rules the Day

{4:40 minutes to read} In greater and greater numbers, seniors are living alone and facing the daily danger of unintended chaos. We all must do our best to be aware of such seniors and to protect them. While this often requires great vigilance and commitment, it does not have to be done alone.

Doris, an 80-year-old woman, found herself helpless in a nursing home. She had been injured in a fall in her apartment and was rushed to the hospital. After two weeks, Doris was sent to a skilled nursing facility to undergo rehab. The care she received there was incredibly inconsistent and appalling. 

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