CONSTRUCTING A PLAN
By Timothy S. Barkley, Sr. May 2018. Our last installment ended with our intrepid caregiver, Elizabeth, lamenting, “That's what scares me. Who can help me put together a plan?” Her attorney nodded. “It is a scary situation. The thought of your mother coming home from rehab to an apartment that she can't access, living alone there with your father who has become unable to handle life's realities, is frightening.” Elizabeth nodded. “There's no money to have them both go someplace where they'll get care. It seems like it's all up to me.” The attorney empathized. “That's going to be more and more often the case, I'm afraid, as folks realize their retirement savings just aren't adequate to see them through the end of life. Medicaid...
THE SANDWICH SHOP
By Timothy S. Barkley, Sr. April 2018. The attorney's phone rang. He activated his headset, “This is Tim.” “Good morning! This is Elizabeth Johnson. I need to talk to you. It's about my parents. My mother fell last night, and was taken to a local hospital with a broken hip. She hit her head, too, when she fell. My dad is upset, and not making much sense.” They met a couple of hours later. “I'm sorry about your folks!” “Thank you,” she said with feeling. “My mom is stable, but the bump on her head seems to have affected her vision. She's on pain meds, and doesn't remember the fall. They say they'll put a pin in her hip as soon as she's been completely checked out, then send her to a nursing home for therapy. That'll take a couple of days....
MEET THE JOHNSONS
By Timothy S. Barkley, Sr. March 2018. The bell on the outside doorknob jangled, startling the attorney out of his reverie. It had been a long day, and there was another client appointment pending. He straightened, stretched and strode to the waiting room. A middle-aged couple stood waiting there. He held out his hand, introducing himself. They reciprocated, “Albert Johnson, but you can call me Bertie.” “Elizabeth Johnson, and please DON'T call me Liz or Beth. It's 'Elizabeth.'” The attorney inclined his head, smiling: “As you wish.” “Thank you for seeing us so late.” This from Elizabeth, who returned the smile. “Our lives are so harried, we can hardly find time for anything outside the usual routine.” “No problem at all,” the attorney...
I NEED A LAWYER
By Timothy S. Barkley, Sr. February 2018. “My brother said we should just download a will off the Internet for our mother, but that made me nervous. I didn’t understand it, and when I asked what things meant, he got mad at me. I don’t think he understood it, either.” I looked at the Will. It left everything to Mom’s three children, whom we will call A, B and C, and provided that if “any” of them died, the estate would be distributed to “their children.” C has already died. When Mom dies, should C’s share be distributed to C’s children (more correctly denominated “his children”), or in equal shares to the children of A, the children of B and the children of C (“their children”)? Did Mom want C’s share to stay in C’s family, or did Mom want...
JUST ANOTHER ESTATE PLAN
By Timothy S. Barkley, Sr. December 2017. “So first, I need to know a little about you. Married?” “Yes.” The hirsute gentleman nodded his head. “Will your spouse be joining us?” “No,” he said, “this is something I need to get done real soon. I leave for a business trip in a week and want this signed before I leave. Can you do that? I’ve been putting this off for a long time and promised the wife I’d get it done before I go.” “When do you leave?” “I fly out on the 24th and would like to get this in place before I leave.” “Can do, but we need to move quickly. So, you’re married. Any kids?” “Yes, from my first marriage.” “Are they adults?” “No.” “Is their mother still around? If she is, the kids would just go to her as their natural parent...
OUR TOWN
By Timothy S. Barkley, Sr. November 2017. The man plucked at my elbow in the Post Office the other day. “You're that guy!” he exclaimed, “that guy who writes for the Messenger.” Relieved that he had not mistaken me for some old enemy, I nodded and smiled. “Wait a minute, I know you!” said the lady in Wal-Mart a few weeks later. “You write about wills for the paper.” Pleased to be thus recognized, I allowed myself to be finagled into a short conversation on the topic of trusts. “I can't take you anywhere,” muttered my wife. “People keep stopping us to chat.” A few days ago, a neighbor stopped her minivan and rolled down her window as I walked to work. “I'm going in for an operation in a couple of days and don't have a power of...
EXECUTOR 102: WHAT DO I DO NOW?
By Timothy S. Barkley, Sr. October 2017. Uncle Herman has just died, and you have been duly selected as the Executor of his Last Will and Testament. Hopefully, you were forewarned. Congratulations. You must marshal, preserve, and distribute the assets of the Estate in accordance with the terms of the Will and the Law; and treat creditors, beneficiaries, and the taxing authority impartially. This can be no small feat. If you are also a “legatee” – that is, a beneficiary of the Will – you have an inherent conflict of interest, since you must (a) make sure all legitimate creditors are paid, while (b) hoping your own inheritance is not diminished. While this sounds simple enough for a reasonably moral individual, there are times when...
EXECUTOR 101: SO YOU’RE AN EXECUTOR
By Timothy S. Barkley, Sr. September 2017. You have just been notified that you are the executor of your uncle's will - the uncle whose funeral you attended yesterday. Or, he didn't die yet, but he confided that fact at the latest family gathering on the occasion of your parents' golden anniversary. Or, perhaps you're the uncle trying to decide on who to bestow that signal honor, as you rewrite your will after the death of your only child - or write your will for the first time, figuring that now that you're retired, it's time to think about what happens when you die. Whatever your circumstance, well-laid plans "gang aft agleigh," as the Bard wrote. Your plans, and the plans of your loved ones, can be torn asunder by the choice of the...
KEEPING CURRENT
Are you really as prepared as you hope you are? If your will is yellowing with age, if your power of attorney has your old address on it… then consider updating your documents.
MARITAL AGREEMENTS
Marital Agreements. April 2017 By Timothy S. Barkley, Sr. “Now last time, we were talking about marital agreements. Even if you hold everything separately, your spouse can have rights to the property when you die, and on a divorce.” Michele and Herb both shook their heads. “No divorces. Been there, done that. We’re committed to working things out.” “Good deal, but especially in this day and age when more marriages end in divorce than don't, it can be good to at least think things through. “And even if you never get divorced – and I hope you don’t – I have bad news for you. Every marriage in this room – yours, mine – is going to end, if not before, when one of the spouses dies. “And without a marital agreement your spouse has rights in...
THEIRS
Theirs. March 2017 By Timothy S. Barkley, Sr. Pleasantries over, they addressed the issues at hand. “We’ve decided” she said, “half to his kids and half to mine. So, because he has 2 kids and I have 3, but one is both of ours, it should be 5/12 to Gavin, 25% to his son, and 1/6 to each of my two from my first marriage.” “That’s right,” he affirmed. “But my son is getting my 401(k), so that’s his 25%.” “Whoa!” interrupted the lawyer. “I’m just a humble lawyer, not a math genius. 5/12?” She laughed. “Half to his kids, split between his son from his first marriage and Gavin. Half to my kids, split between my two from my first marriage … “ “And Gavin,” completed the lawyer. “Let’s see … half of half is one-fourth, plus one-third of half …...
US’NS
Us’ns. February 2017 By Timothy S. Barkley, Sr. “Let’s start with your retirements,” the attorney continued from last week’s article (available online at http://barkleylaw.com/his-hers-and-ours-0117) … “Do you have a prenup?” The clients shook their heads. “I’m not a fan of building escape hatches into marriages,” the attorney confided, “but if you’ve agreed about things like 401(k)s and IRAs, it’s good to put those agreements in writing. That way if there is a disagreement, even after the death of the first to die of the two of you” – Herb grimaced as Michele glanced at him – “there’s a clear record of what you agreed to do.” “Nope,” asserted Michele, “we talked about that but never really got around to it.” “If you don’t have a marital...