As the average age of the country's population increases, so does the chance that someone will take advantage of an elderly person in Washington, DC. Elder abuse comes in many forms, but one that family members may be able to do something about is the misuse of a durable power of attorney (DPOA). Such an abuse may not result in physical harm, but it could result in irreparable financial harm that could affect how that elderly family member is cared for as he or she ages.
Regardless of how well thought out and executed an estate plan is, things can go awry after the Washington, DC, resident passes away. Many times during the probate process, heirs and beneficiaries find themselves at odds over what they either did or did not inherit from a loved one. Sometimes, the relationships are never repaired.
District of Columbia residents may already know that a will is essential in order to memorialize a person's wishes regarding the distribution of his or her property after death. In fact, some people are under the impression that the only function of estate planning is to transfer property. However, this function is only the beginning.
It seems that the costs associated with medical care are continually rising with no end in sight. When this rise in costs is accompanied by the fact that people are living longer, the need for health care planning has never been more urgent. The retirement that Washington, DC, residents spend years building could be squandered on payments to doctors, hospitals and care facilities without additional planning.