How To Provide Immediate Cash To Your Personal Representative When You Die

A common problem confronting survivors of a loved one is coming up with money to pay for immediate needs such as a funeral or related expenses.

Unless you have a living trust, your personal representative may be delayed for several weeks before he or she can gain access to your bank accounts.

A simple solution is for you to open a specified bank account now naming your personal representative as a joint owner or designate that your personal representative is to inherit the account upon your death – that is known as a POD or “payable on death” account.

I recommend putting approximately $10-20,000 in that account which should be more than sufficient to tide things over until access can be had to your entire estate.

Doubtful Depression Treatment

Clinical depression is a common problem faced by many people as they age. In many, many cases, electroshock therapy (technically, electroconvulsive therapy or ECT) has been used by psychiatrists to treat the condition rather than, or in addition to, drug therapy.

Its use on patients with dementia is usually not recommended.

The procedure involves a risk of memory loss which can compound the problems of a person already suffering from memory deficiencies.

Preventing Falls

No one likes to fall at any point in their life but avoiding falls is particularly important as we age. That is because our bones are more likely to break upon striking objects or the floor. A particularly common problem for older people is breaking their hips. That is a particularly ominous event because statistics make it very clear that this type of injury and subsequent surgery appears to shorten one’s life. What can you do?

Take a careful look on the floor where you live. Is the surface uneven? Do throw rugs slip? Are there cords on the floor or loose items that require you to avoid them? Remove all of these hazards.

Such hazards are not the same problem when we are younger because we have a better sense of balance and are more able to avoid such risks without falling.

You don’t have to take, however, the loss of balance as a given as you age. It is possible that through exercises, you can help your balance, coordination, flexibility and strength. Exercise! Make it a regular course of your daily life to find opportunities to walk both in and out of your residence. Many people have also had success by practicing Tai Chi which focuses on slow and controlled movements which increase balance and prevent falls.

Further, a number of other factors can contribute to poor balance such as medications, poor vision, hearing, arthritis, depression, confusion and dizziness. Talk to your doctor if you have any of these conditions to see if adjustments and corrections can be made. 

Dangers of Living with Someone and Not Having a Will

For better or worse, co-habitation is increasingly common. If a long-term live-in relationship is intended to substitute for a traditional marriage, understand the following:

When a person dies without a will, the next of kin through marriage or blood generally inherit. Maryland is not a common law state and marriage is still defined as a relationship between a man and a woman which has been sanctioned by the State. That means that the law views your unrelated companion or partner as a stranger. He or she has no rights of inheritance absent a private will.