1st Hour Topics
Ed in Lynnwood: If I pay for dementia test, do the test results become public information? Rajiv: If you disclose that you’ve seen a doctor, they’ll go to your doctor and request your medical files. If you do not disclose that you have seen a doctor, the insurance company can rescind the coverage. Don’t get the test in the first place. There are no treatment options and the information can hurt your chances for coverage. Plan for the worst. Hope for the best. That way you are in the best position if it happens and not hurt if it doesn’t.
John in Kent: What is the cost to set up the legal structures for a person? Rajiv: You are going to pay anywhere from $750 to $9500 or more. For 90 percent of the people who have no complications one of the cheaper options is fine. Run of the mill estate planning: will or trust; power of attorney or health care; power of attorney for financial and a living will. Here are three big things that will become important to you; not becoming a burden, avoiding institutional care, and protecting assets.
Ellen in Coupville: My husband needs to access to funds for his mother. We can’t get the attorney to give us a copy of the power of attorney to access those funds as he may have retired. Rajiv: If you provide an affidavit in support of the power of attorney the bank will recognize it. Attorneys must keep files for at least seven years. If they’re not responding to you you’re stuck with getting an affidavit.