The Petrosewicz Law Firm Estate Planning Blog

Putting off Getting Hearing Aids? Don’t—Your Brain Will Thank You!

If it seems like every day brings something new to worry about, take heart—this is something that you can do something about. People with moderate hearing loss were twice as likely to experience cognitive decline as their peers, while those with severe hearing loss faced five times the risk, according to a study from Johns Hopkins University School of Medicine that was written up in Next Avenue’s article “A Delay In Getting Hearing Aids Can Mean More than Hearing Trouble.”

Another study, from the University of Colorado at Boulder, found that the brain’s ability to process sound declines, as the person’s ability to hear decreases. The study looked at adults between the ages of 37 to 68 who had their hearing tested and their brains examined. None was being treated for hearing loss, although a few felt that their hearing was not as good as it once was.

The subjects underwent hearing tests, and tests using visual stimuli to see how they were processing information. They also underwent electroencephalograms that showed that not only were their brain’s visual centers firing when seeing the stimuli, but the hearing center was also active in those who had suffered some hearing loss.

In other words, parts of the brain that used to process sounds were now processing visual signals, as the hearing part of the brain was being repurposed to process images.

The brain repurposing different areas for different functions, is known as “cross-modal recruitment,” which is not a new concept. Other areas of the brain can be affected, including the pre-frontal cortex, which is in charge of higher-level thinking and executive functions.

If this part of the brain is needed to help overcome hearing loss, then there’s less capacity for putting new information into long-term memory, for comprehending and responding to sounds and conversation.

The researchers also found that people in the study regained some of their losses, after being fitted with very high-quality hearing aids.

Unfortunately, many adults delay getting their hearing tested and getting hearing aids. The stigma associated with getting hearing aids as a marker of aging, is one reason. The other reason is that hearing loss is a very gradual process and people get used to not being able to hear.

The Petrosewicz Law Firm can assist you with special needs planning.  Contact us today at (281) 344-9455 or [email protected]. 

Reference: Next Avenue (October 21, 2019) “A Delay In Getting Hearing Aids Can Mean More than Hearing Trouble”

Are You Ready for an Emergency?

Fires, floods, earthquakes: the natural disasters that have turned people’s homes and lives upside down have made us aware of how vulnerable we are, and how little time there is when disaster strikes. A “go-bag” to protect your family that contains credit cards, cash, flashlights, flares, batteries, warm clothes, prescriptions, and other necessities is just one part of being prepared, says the article “The most important ‘go bag’ item for emergencies is only 2 inches long” from The Union.

That’s your “financial go bag.” It won’t feed you or keep you warm, but it will save you countless hours and headaches when life returns to normal. Here’s what you need to know:

1. Gather all your important documents. That means your driver’s license, passport, birth certificate, social security card and Medicare card. If you own your home, you should include deeds to property and titles to cars, as well as insurance policy summaries for home, auto, medical, long term care, life, or umbrella policies. Include statements for checking, savings, investments, debt accounts with account numbers and federal and state tax returns from the last three years. Add estate planning documents. If you have a pet, include their license information, chip ID and vaccine records. If there is an 800 number for a service that can track your pet. Make sure to include that.
2. Create a physical list of important phone numbers and addresses for family members, professionals, including your estate planning attorney, CPA, financial advisor, dentist, doctors and emergency contacts. Print it out and put it in your go bag. If you don’t have any power, your list on the phone will not be accessible.
3. Create a video inventory of your home, including the contents of dressers, drawers, cupboards, collections. Don’t forget the garage and outdoor landscaping.
4. Scan all this information and store it on two thumb drives (also known as memory sticks). Protect the information, by using an encryption method to secure it, in case it gets lost.
5. Put one of these thumb drives into your safe deposit box and another in your go bag. Even a fireproof safe won’t survive a massive wildfire, so don’t put it in a safe in or under your house. Put the go bag somewhere near an exit point, where it blends in and is secure.
6. Tell your family and closest friends that you have a financial go bag and where it can be found.

This does take a little time, but if disaster strikes, and you can move quickly with your documents and your “regular” go bag, you and your family will be in a better position to rebuild your lives.

The Petrosewicz Law Firm can assist you with your estate planning needs.  Contact us today at (281) 344-9455 or [email protected].  

Reference: The Union (Dec. 23, 2018) “The most important ‘go bag’ item for emergencies is only 2 inches long”

Why Do I Need an Estate Plan? I’m a Millennial!

We know that people don’t want to talk about death. Even baby boomers, who are coming to terms with their own mortality, don’t like to talk about death. However, if you die without a will or an estate plan, the Chicago Tribune says the consequences for those you love can be financially and emotionally disastrous. The article is titled “Family Finances: Even millennials need an estate plan.”

A will details how you want assets distributed after death. It names an executor to handle those assets. Without a will, you are dying “intestate” and the state will decide how to distribute your property and funds. If you aren’t married and don’t have any children, most states will start with your parents. However, if you have a will, the entire process becomes much easier.

There are two documents that are even more important than a will for a single healthy millennial. The first is a Power of Attorney. Through this legal document, you appoint the person who is empowered to make decisions about financial matters on your behalf, if you cannot. It’s for when you are incapacitated, by illness or injury, and also if you are unavailable for other reasons, like if you are travelling.

The second document is called an advance medical directive. This defines your end-of-life wishes about medical treatment. The person you name, will be able to carry out decisions like this on your behalf. This is unpleasant, but necessary to address. If you don’t designate a health care agent or fall into a persistent vegetative state, you will probably be kept alive artificially by default. This may not be what you wanted, but if no one has the legal document telling them what you wanted, then this is what happens.

What happens to your digital assets when you die? Facebook now has a default, where it memorializes your account, and you can appoint a legacy contact or direct Facebook to delete the account, if that is your preference. Google now lets you choose up to ten trusted contacts, who can download data from your Gmail, photos and more, if you become inactive for a certain period of time. Most states have now enacted laws that govern how an executor can access your digital assets, but you still have to tell the platforms, one at a time, what your wishes are.

Cryptocurrencies, like Bitcoin, are another aspect of millennial life that have to be addressed in advance, if they are not going to disappear completely when you die.

An estate planning attorney will do more than create documents for you; they’ll create a plan that addresses issues that arise during life, as well as after death. Estate planning documents, including the three mentioned above, are governed by state law, so you’ll want to work with an attorney who is familiar with the laws of your state.

Resource: Chicago Tribune (Oct. 9, 2018 “Family Finances: Even millennials need an estate plan”