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For those of us without family - Who will take care of you ?
Aging Well | Last Active: Sep 10 8:47am | Replies (179)Comment receiving replies
I am in the same boat. I feel much better after getting the names of two licensed fiduciaries in Arizona from my estate lawyer. He had positive experiences to report with both organizations. I l have one appointed as a backup trustee and medical power of attorney if my spouse can no longer serve. I met with the fiduciaries and am satisfied that they are professionals and will represent my interests, not only when it comes to financial matters but also when serving as a medical care advocate. These women havve many years of experience with local hospitals and care facilities. Very few relatives have that type of knowledge or expertise. It would be nice to have relatives to care for us in our old age but I think I have found a very satisfactory alternative. Some may say that there is a risk of fraud or mismanagement, but as a retired lawyer, I can tell you the same can be said about some relatives. Good luck.
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So true and so often it does happen that relatives, including children, often mismanage matters due to either lack of knowledge or outright fraud.
Some individuals given legal powers do everything they can to keep the ill person on life support longer than the instructions in the ill persons health documents, in other words longer than the ill person requested in their document ....... such as their wishes stated in their Health Care Document. They do this just to be able to take as much of the money as possible from the ill person's financial accounts while they are alive and therefore not only taking from the ill person but also from the eventual listed beneficiaries within the Will or Trust.
I, myself, am looking into learning more about Vanguard National Trust Company to be the Successor Trustee (fiduciary). Vanguard National Trust Company is the subsidiary of Vanguard Group Inc. as in Vanguard Funds.
Hope our discussion helps give others something to consider and think about.