August 4, 2008




Financial and Estate Planning for Chronic Illness: Part 1

A chronic disease is a very serious condition to take into account when doing your finical planning. A chronic disease is a debilitating disease that will continue for the rest of your life and that there is no cure for. It takes a substantial toll on your life as well as your estate. (Ex. Multiple Sclerosis, Alzheimer’s)

In doing your planning you must have a strong power of attorney who acts as a very broad agent to address a vast variety of issues when you are incapable of making very substantial legal decisions.

You need to address issues such as setting up a trigger mechanism that allows someone to use the power but allows you to resume financial affairs when you are physically able.




The above is a summary of a radio show on MMFN Money Matters Financial Network, with host Gary Goldberg, of Gary Goldberg Planning Services, Inc. in Montebello, New York, and his guest Martin M. Shenkman, Esq. an estate planner in Paramus, New Jersey. Listen to the audio clip of this segment on www.laweasy.com.

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