Authentic voices. Remarkable stories. AOL On Originals showcase the passions that make the world a more interesting place.
Gwyneth Paltrow and Tracy Anderson spend time with women who've overcome hardship, injury, and setbacks to triumph in the face of adversity. We'll hear their inspiring stories firsthand, whether fighting back from a career-ending injury or transforming their lives and bodies through diet and exercise.
Enter the graceful but competitive world of ballet through the eyes of executive producer, Sarah Jessica Parker. This behind-the-scenes docudrama reveals what it takes to perform on the ultimate stage, the New York City Ballet. Catch NYCB on stage at Lincoln Center.
The Future Of Us is a powerful original series from television personality, futurist, filmmaker and techno-philosopher, Jason Silva. In this series, Silva shares his excitement around recent discoveries and inventions.
ACTING DISRUPTIVE takes viewers inside the businesses and passion projects of Hollywood’s top celebrities.
They say every picture tells a story and AOL On's new original series My Ink proves it. Travel along as some of the world's greatest athletes bring their tattoos to life through exclusive interviews and visits to their favorite tattoo parlors.
Explore what it means to be human as we rush head first into the future through the eyes, creativity, and mind of Tiffany Shlain, acclaimed filmmaker and speaker, founder of The Webby Awards, mother, constant pusher of boundaries and one of Newsweek’s “women shaping the 21st Century.”
Discover crowdfunded small business success stories with author, comedian, and entrepreneur Baratunde Thurston.
Go behind-the-scenes with racing's hottest, young talent, 17-year-old Dylan Kwasniewski, as he aspires to make it in the #1 motorsport in America – NASCAR
Follow Scott Schuman, the Sartorialist, from the streets of NYC to the capitals of Europe on his quest to photograph and document the best in culture and fashion.
Iconic potter, designer, author and personality Jonathan Adler shares his unique perspective on creativity. Showcasing the inspiration Jonathan finds in the most unlikely people and places, Inspiration Point will add style, craft and joy to your life.
Serving Innovation gives a fresh look into the stories and passions that motivate some of the most innovative tastemakers in America.
A documentary directed by Alex Winter exploring the Napster downloading revolution; the kids who created it, the bands and businesses that were affected and its impact on the world at large.
Nicole Richie brings her unfiltered sense of humor and unique perspective to life in a new series based on her irreverent twitter feed. The show follows the outspoken celebrity as she shares her perspective on style, parenting, relationships and her journey to adulthood.
Attorney Ben Neiburger offers tips for assigning finance and health-care power of attorney.
Tags:Where Estate Planning Meets Long Term Care,business tips,estate planning,healthcare insurance,healthcare power of attorney,long term care policy,morningstar
Grab video code:
Christine Benz: Hi, I'm Christine Benz. I'm here at the Investment News Retirement Income Summit, and we're hearing today a lot about long-term care. And I'm happy to say I'm joined here today with Ben Neiburger. Ben is the principal at Neiburger Law, and he focuses a lot on estate planning matters at his firm. Ben thanks for joining us. Ben Neiburger: Well thanks for having me. Christine Benz: So, one topic that came up today was the interaction of estate planning and long-term care. So a question for you, Ben, is for someone who has an estate plan in place, and is also considering long-term care, how do they adjust the estate planning documents to reflect the existence of a long-term care policy? Ben Neiburger: Well with the long-term care policy, you understand that it pays out a stream of income for care, whether the care is at a nursing home, or an assisted-living facility, or at home. So they have to arrange the estate plan to control the payments that come out of the long-term care insurance, so that they can get those payments to go to the right places, so they can either stay at home in the community, or in the assisted-living facility with all of their friends, and those types of things. One of the best things to have is called powers of attorney. Christine Benz: A financial and health-care power of attorney for most people. Ben Neiburger: Exactly. So you're going to have one that's going to help people implement health decisions for you. And remember, these only come into effect when you're no longer able to make the decisions for yourself. Christine Benz: And that's in a doctor's judgment, usually? Ben Neiburger: It depends on a lot of different things. But generally, you'll know when somebody can't make their own decisions, or their decisions are very, very poor, usually after dementia has set in for a while. But they need to have the health-care power of attorney so that they can tell the doctors what to do, and the health professionals what to do. And whoever is the person's agent under the power of attorney, that is, the person who's doing things, can also have access to the health information, because then they can direct the long-term care funds towards the correct amount of health care. In addition, the long-term care comes and it goes into their checking account. You need to have a power of attorney for finance, also called a power of attorney for property, to be able to dip into the checking account, to write checks to pay for those bills. And having the correct person acting under the powers of attorney is important to make sure that your money is safe. And I also would not have the kids just as joint tenants on the accounts, because sometimes the balance in those accounts could be subject to the children's creditors. If there's a joint tenancy that means you're both on the account. There are other ways to deal with the account to avoid probate, but that's another discussion. Christine Benz: Right, so you want one person, typically, to be the agent for the financial power of attorney, and you want that person to be a financially-sound, decision-maker themselves. Ben Neiburger: What you'd like generally is the same person as the agent under the health care power of attorney and the financial power of attorney to avoid fighting. Christine Benz: But they can be different. Ben Neiburger: They absolutely can be different. And if you have a family that gets along under stress, it's fine. But you have to make sure either that the person is financially-savvy, or they know to hire somebody, to bring somebody in to help them be savvy. Not somebody who, just willy-nilly, throws money around, or spends it on anything, or doesn't make wise decisions, but somebody who can either educate, or hire the people to help them make the right decision. Christine Benz: So one last question. Should geography play a role in selecting these agents? So with the health care, for example, would it help to have someone who's near? Ben Neiburger: Sometimes. A lot of things can be done by telephone. Of course, it is hard to manage things, especially health care from far away. It's very difficult, but you can get people on the ground to help you do that. Now if you have two children who you trust equally, one's in town, one's not, of course, you're going to pick the one who's in town. If the one that's closest is not responsible or is squeamish about medical decisions, you want to use the far one. It's key to have the right person do the job. It's helpful if they're close, but it's not necessary--e-mail, fax, and phone work just fine. Christine Benz: Well thanks, Ben, for some helpful guidance on some tough issues. We appreciate you being here. Ben Neiburger: Thank you for having me. Christine Benz: Thanks for watching. I'm Christine Benz.