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Episode 2: What the hell is power of attorney and why do you need it? With Rachel Schromen of Schromen Law, LLC.
Manage episode 493519440 series 3670702
“Are you the Power of Attorney?” When shit goes down and a health crisis happens with our aging parents, this is one of the first questions we are asked. But what the hell is a power of attorney and why do we need it?
In this episode, Eliesa Johnson and Robyn Frank are joined by (the fantastic) Rachel Schromen of Schromen Law, LLC and we discuss it all. Rachel’s approach to guiding her clients through Estate Planning and Elder Law is truly remarkable and we are so grateful for her advice and real-life-tips that you can put into action to help you today!
Side note: We learned Power of Attorney isn’t just for aging parents, it’s important for ALL of us. Listen in to learn more!
Takeaways
- Why Power of Attorney and Health Care Directives are important for ALL of us, NOW! Including your freshly turned 18 year old.
- What’s valuable about hiring an attorney to help with Estate Planning and Elder Law.
- How to interview attorneys to find the right personality and fit for your family.
- When to strategically schedule legal meetings + important appointments to allow everyone to retain the information best.
- How siblings should play to each other’s strengths to divide and conquer responsibilities.
- What’s the difference between Power of Attorney and co-signer on your parent’s bank accounts, and which one is better.
Links and Resources:
**The following links are resources based in the state of Minnesota.**
Schromen Law, LLC - Learn more about Rachel’s practice and approach to Estate Planning and Elder Law. We know we’ll be making an appointment!
10 Questions to ask your Estate Planning Attorney - A very cool document provided by Schromen Law, LLC that walks you through questions to ask while calling around for Estate Planning and Elder Law.
State of Minnesota Power of Attorney Forms - If you’re interested in a DIY approach. A word of caution - these forms can seem deceivingly simple. We might recommend hiring a pro to help guide you.
State of Minnesota Health Care Directive Form - If you’re interested in a DIY approach. A word of caution - these forms can seem deceivingly simple. We might recommend hiring a pro to help guide you.
Low Income Resources:
Do you have a hot tip for legal advice to share? Good resources beyond our state of Minnesota? Maybe you have a hilarious Laugh or Cry moment you want to contribute to our show. We want to hear from you ✨
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Chapters
00:00 Meet Rachel Schromen: The Expert in Elder Law
01:55 Rachel's Personal Journey with Grief and Law
06:48 What the HELL is Power of Attorney?
19:10 Segment: To Laugh or Cry
20:36 Should I DIY the paperwork or hire a pro?
28:22 Mental Capacity for the l
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