Welcome to Mobile Estate Planning with your host, Michael Bailey. Over a decade ago, attorney Michael Bailey turned his attention to estate law after he recognized the unacceptable number of adults without proper end-of-life planning. Michael recognizes that many of his clients have difficulty finding the time for making a proper estate plan. That’s why he became the Mobile Estate Planner. He will go to wherever you are to assist you with your estate planning, including writing wills, trusts, and giving you the information you need to avoid probate. Now, ATX, Ask the Experts, presents Mobile Estate Planning with your host, Michael Bailey.
SPEAKER 01 :
Good afternoon. Welcome to Mobile Estate Planning with Michael Bailey. So we can do something besides just leave your family alone. You are listening to 560 KLZ AM or 100.7 FM, possibly on the KLZ 560 radio app. I think those are kind of our… Options there. Phone number to talk to me on the air is 303-477-5600. And again, that’s 303-477-5600. And my direct line is 720-394-6887. Once again, that’s 720-394-6887. So, last night, I was at home and talking to my wife and my daughter. It was my 19-year-old who was home. The 16-year-old was off playing volleyball. The almost 13-year-old, he’ll be 13 on the 16th. 12-year-old was up playing some sort of basketball video game. And so I was talking to my daughter, and she recently returned from her freshman year of college. And she is still wanting to become a doctor. So about a month before she came home from college, she was telling us that she’d kind of signed up for a CNA program. So there’s a I guess there’s a one-month training, kind of like online training, where you go through and you can qualify to become a CNA. And so that way she could go work as a CNA and get all of the medical hours that she needs to have completed before she becomes a doctor or before she goes off to med school. So there’s different ways of doing that. My brother-in-law, who’s a doctor, he was an EMT, and so that’s what he did, and he would work and kind of get experience in the medical field. My daughter’s wanting to do, you know, just the CNA is kind of the route she took. And so she was about a month before classes. She’s like, well, I can start doing it now. And then I can have everything done by the time we get home. And I’m like, well, hold on just a minute there, kiddo. I think maybe there might be something coming up in the next month or so. It’s a little thing we like to call finals. So it might not be the best time for you to be doing that. So I kind of talked her into understanding that, you know, she’d be done with school in April. She could come home and then like through May, she could get those, get the class done. And I’m like, cause then, you know, by the end of June or sorry, by the end of May, you’ll probably be done and then you can go on. And so that was, that was our big plan. And so she came home and, And she was taking the class, and she got done with the class. She was like, oh, well, now I need to go do clinicals. So apparently they have to take her, and she goes and does some clinical work and actually works with patients and things like that. And so she went to sign up for that, and the first available option for doing clinicals was in the middle of July. Okay. So suddenly she’s like, well, I’m done at the end of May, early June, but now I have to wait until the end of July to be able to get the clinicals done. Oh, that was going to be, you know, so that’s, you know, six weeks of delay. It’s no good. So she ended up calling the company that are the people that coordinate the clinical. She’s like, hey, if you ever have anybody cancel. Please let me know and they’re like, okay, we’ve never actually had anybody else ask that but well, you know We’ll put you on a list and about an hour and a half later like oh, well, we have a spot that opened up July 3rd 4th and 5th, so you could do that. She’s like cool and then last week on Tuesday, she got a call. Hey, we had a spot that opened up on Friday and Saturday. Do you want to come and do it this week? And she’s like, yes, definitely. So she got that part done. And now there’s a state test that she has to take. And so she went to go sign up for the state test. And of course, the state test is out in like August. It’s no good. But she found some technical college students. in delta colorado do you know where delta colorado is luke it’s way over on the western slope you know kind of almost all the way to you know grand junction type of things about it’s almost five hour drive from here to get over there And Delta College is, whatever, I don’t remember, is it Delta Technical College? It’s a technical college in Delta. And so they offer, so it’s a location where she can take this test. It’s also off the beaten path if it’s, four and a half to five hours from here out on the western slope so there was a spot available next not this saturday but next saturday the 21st but she’s like oh but it’s like a five and a half hour it’s like a four and a half hour drive and yes it starts at 12 30 but that mean we have to get up and leave at like six in the morning to get there and i don’t know what i want to do that and i said well hey kiddo Um, how about when I get from home from work on the 20th, we will do, we can get in the car and we can drive over and, you know, if the test isn’t until 1230, you know, if we get in at 1130 or midnight, we can go to bed and we can sleep until eight or nine in the morning and get up and have breakfast and get prepared and be refreshed. And then get a little bit of lunch and you can be on your way to then you can go take the test and then we can come back and she’s like yeah well you know I have to check with you know the work schedule because she she has worked for Chick-fil-a when she was in high school and now has kind of gone back there to have something to do for work while she’s in between semesters or in between college years and and so we um so this morning she’s like i’m just going to go ahead and book it and i’ll figure out um the we’ll figure out you know what to do with a work shift at chick-fil-a as necessary i was like okay that’s cool and so i went ahead and booked a hotel room and i you know they’re like well you can get the one king size bed or the two queen size beds i’m like i’ll get the two queen size beds because i’m guessing my 19 year old daughter would like to have her own bed and She can sleep in the same room as dear old dad, but the same bed might not be quite as comfortable for her. And so, you know, we booked that and I’m like, well, I’m excited about this kid. Oh, we’ll get to go spend some time driving down and then you can take your tests and time driving back. And, you know, we’ll get to spend some good time together because. She came home from college and of course she’s off with her friends or working and all those types of things. And, you know, I’m like, I’d love to, you know, it just gives me some good time to spend with her. And yes, it might be later into the night because by the time I get done with work and home and at six o’clock and we leave, it’s going to be 1130 or midnight by the time we get there. But that’ll be fine. But it’s one of those things that with just, you know, she is 19 years old. She is an adult. She is able to do all of these things. But I could give her… a chance and an opportunity to be aware with her and her money situation. She’s like, I don’t think I’d want to go down and spend the night in a hotel. That would be money that she doesn’t necessarily have. And I’m like, well, as one who has paid off my college loans and even my law school loans, I do have a little bit more financial flexibility and freedom. So maybe I can do this for you and I can help you out here. And she was pretty excited about it. And so now we have a good plan. So not this Friday, but next Friday, I’ll be driving to Delta, Colorado and taking care of her. And she’s an amazing girl. She can do all sorts of cool things. But sometimes… as a more experienced adult i can help her do things that she can’t do for herself so you are listening to mobile estate planning with michael bailey here on 560 klz am also heard on 100.7 fm phone number to talk to us on the air is 303-477-5600 And again, that’s 303-477-5600. And my direct line is 720-394-6887. Once again, 720-394-6887. She’s 19 years old. We’re finding there are still things that we’re like, huh, I guess we never taught you that growing up. I guess we never taught you how to do that. My 12, almost 13-year-old, we taught him how to make macaroni and cheese the other day because he was hungry. And he’s like, what are you going to make me? And we’re like, well… Let’s see if we can talk about that. So he can make ramen now. He can make macaroni and cheese. Someday we’ll teach him how to make his own sandwich. We’re like, no, really, it’s okay, dude. Take two pieces of bread. You put the turkey and the cheese in there, and then you can eat it. I don’t know how. You know how, you just don’t want to. Let’s not kid ourselves. So we still got time to be working with him. But the 19 year old, we sometimes refer to her as a baby adult because she is an adult, but she’s brand new to being an adult. So we think she’s a baby adult and we still have things that we need to teach her and show her how to do things to become a full blown adult. and i’m not sure when that’s going to happen for me you know i feel like i’m more of an adult than i was at age 18 but i don’t think i’m fully arrived as a full-blown adult myself you know even though i have an adult child yeah i’m still working on it someday maybe i’ll have confidence in the understanding that i know exactly what i’m doing but i’m not sure about that either because there’s still a whole bunch of things to go so my baby adult 19 year old when we were getting her ready to send her off to college We did a lot of the things you would do. You go and you find some inexpensive dishes, whether you find them on clearance or you find them on, you know, there’s plenty of stores around like a Ross or HomeGoods or something like that where they’re like discount stores. I’m like, well, we’re not really wanting you to take expensive dishes and expensive pots and pans off to school. We want you to take dishes and pots and pans so you can cook and eat and things like that. But we don’t need to get you the most expensive thing. For her freshman year, we did not send her with a car. She was living on campus, so we didn’t need to get her a car. For… But, you know, we also helped when we went over there to drop her off. We made sure we could, you know, show her, you know, get her familiarized with the buildings and layout of campus. And I think one day we even, you know, before we left, she walked her whole schedule. So we didn’t do that with her, but we encouraged her to do so so that she could walk to the classes and find the classrooms better. where she needed to be so it wasn’t the first day and she’s like, ah, I’m lost, what do I do? All of those things that you do to get your kid ready for college. And then I, as an estate planning attorney, wrote her a financial power of attorney and a medical power of attorney that said if she became incapacitated, my wife and I, her parents could make decisions for her. And that was one that we’d run into when she turned 18, because she turned 18 and my wife went to just fulfill a prescription for her and to, you know, go pick it up. And they’re like, yeah, well, you know, we’re going to need the daughter to come by because she’s 18, has to do it herself. And so suddenly it was, oh, yes, she is not a full fledged, ready to function in the entire world adult at age 18. And all the things that we had done for her as parents and, you know, always done for her entire life until she turned 18. Suddenly the law said, hey, guess what? She’s 18. She has to do this herself. You can’t do it for her. Now, for anybody who’s a parent, you know full well that age 18, you’re not done being a parent. Your kids may be legally adults and be able to go off and live on their own and get their own apartment or house or car or whatever. But… there’s still things for us to teach our children. There’s still things for our children to learn from us. And we’re still in the midst of taking care of those kids instead of having it be the whole big thing. So things like that, where, you know, my daughter needed a prescription for prescription medication. And so we put together, you know, let’s say my daughter’s off at school and she gets sick and maybe has a high fever and can’t quite make her own decisions, we’re able to step in and do so. And then you run into the problem of HIPAA laws, where you’ve got private health information. So even if you’re Your child is still your child, even if they are a legal adult. But if someone gets sick or injured, it’s nice for the parents to be able to say, hey, we’d like to be able to talk about this. We’d like to be able to help this person. We want to be able to have our child be cared for. And talk to the doctors about what’s going on. My freshman year, I had my freshman year roommate. He had gotten a job in one of the cafeteria kitchens. So he was cooking and preparing the food and all that kind of stuff. And one night he was there and a big pot of boiling water got tipped over and splashed on top of his shoes and burned the top of his feet. and he was very fortunate that he had the shoes on so they took the brunt of the heat but still soaked through the shoes and so he could get the shoes off pretty quick but you know he still had you know some severe burns on the top of his feet and so he had severe burns on the top of his feet so he went off to the hospital and all those type of things and when he was in the hospital because there were not hippo laws back when i was in college His parents could still talk to the doctors and handle things. Well, now with HIPAA laws and with privacy and not being able to give… private health information on somebody’s condition to parents, even though they are the parents, but they’re not entitled legally to talk to the doctors about their kids’ health information because legally as adults, their health information is private and protected, which, you know, makes perfect sense. It seems like a good thing to have. But as parents, you’re like, well, yes, that’s true. They are legal adults. But we really do need to be able to have this discussion with a doctor about what’s going on and what’s happening and all those type of things. So it wasn’t the type of thing that it was. And so as a parent, planning ahead for your children going off to college, they are still your children. They are legally adults. but it’s not going to be quite the same as it was when they were growing up. So if the law is saying, hey, you can’t talk about private health information, hey, you can’t make decisions here, or my roommate took a couple of days until he could put socks and shoes back on, but then he could go back. So in the meantime, he’d either walk barefoot or go with sandals to go to class. but then he could recover and he was okay to be able to finish off his, to keep doing classes and things like that. Well, if somebody were seriously injured and needed to withdraw from classes or something like that, or had a serious illness and was sick enough that it would make sense to withdraw from classes, The college is not going to just say, oh, hey, you’re the parents. Cool. We let you withdraw them from classes. They don’t have the legal authority or ability to do that because the person is, in fact, an adult and can make their own decisions. And so you have a financial power of attorney. And the ones that I write for kids who are going off to school, we build in some special provisions that say they can talk to the college and they can, you know, get access to grades and they can get access to various, you know, all the various things that are necessary for, you know, whether it’s talking to financial folks at the college to if you’re going to withdraw, do you get some sort of At least partial refund of tuition or things like that. But to be able to even have those conversations for your adult child, you need a financial power of attorney that gives you the authority and ability to have those discussions. And so when your child goes off to college, you need a financial power of attorney and you need a medical power of attorney to be able to make decisions for them. So you are listening to Mobile Estate Planning with Michael Bailey here on KLZ 560 AM or on 100.7 FM or the KLZ 560 radio app. Phone number to talk to me on the air is 303-477-5600. And again that’s 303-477-5600. And my direct line is 720-394-6887. And once again that’s 720-394-6887. So being able to set up a power of attorney for your adult children who are just starting their foray into the world of being an adult is kind of an important thing to do for your kids. Now your, uh, your children made in probably the most logical decision of who would take care of, you know, who would be that agent for your children is the parents that would just kind of make sense. But of course, that’s not necessarily always the case, especially sometimes it’s, uh, it’s a thing where the, um, It’s the kind of thing where if you’ve got, let’s say you have divorced parents or separated parents. Well, you may or may not want both parents to be acting together as co-agents or co-parents because they’re separated and that may not be the best thing to do. So the… So, you know, for me, where it’s my wife and I, and we’re both, you know, we’re still married. We’ve got our, you know, the three kids we have are the common kids between us. It makes sense that we would be co-agents for my daughter. So that if my wife needs to do something, she can do it. If I need to do something, I can do it. If we need to act together, we can do it, but we can share that load together. And that makes the most sense for us in our life situation. Now, most kids who are going off to college probably have one or both parents who are able to act as that agent under power of attorney. But I don’t know that a kid who’s going off to college is going to be super excited, know or care. about what’s going on with an agent under a power of attorney. It’s just not something that’s on the kid’s radar that I can totally understand because you just finished high school. You’re going off to college. You’re super excited about it. It’s going to be the place where you can go and you can make lifelong friends and you can, you know, learn and figure out what you want to be when you grow up and, you know, where you might want to work. And those are two separate inquiries, despite what some people will tell you. You know, some people, what they want to be is what they want to do for work when they grow up. Other people just figure out what they want to be. And they’re like, oh, and I work to make money because I have to do that. Yeah. Okay. Makes sense. Those are the kind of things that probably a lot of kids are super excited that they don’t have to live at home anymore and live under the horribly oppressive, keep them under your thumb type of rules that parents have. We had some oppressive rules, let me tell you. We provided a car to our child when she turned 16. And we’d say, hey, give us an idea of when you’re going to be home. And if it’s going to be a lot longer than that, please call us. See, we’re pretty oppressive parents. And my daughters found that out when she went off to college. And You know, a lot of her roommates and friends, they all had curfews growing up and things like that. She’s like, well, why didn’t you need to give me a curfew? I’m like, she’s like, well, why didn’t you do that? I’m like, because you never gave me a reason that I needed to. You were a good student. You were a good kid. If you were off doing something, playing with your friends, I wasn’t going to be the stick-in-the-mud, fuddy-duddy dad that wouldn’t cause trouble. As soon as my kids started to drive, I’m like, look, here’s the thing. If you ever find yourself in a situation where you’re uncomfortable or you feel unsafe or something like that, text me an X and text me the address. And I will come and I can be the horrible parent who needs to, who will barge in and tell you that you’re breaking curfew and that you need to come home right now. And I can be that jerk that your friends are like, wow, your dad’s kind of a big jerk, isn’t he? He’s totally unreasonable. And wow, I’m so sorry for you. And your friends can think that of me. And when we get in the car, you can look at me and say, hey, thanks for getting me out of there, dad. I’ll say, hey, no problem. And I’m not going to tell your friends any different. I can be that jerk. I can be that fall guy. because i’m your dad and really i don’t care what your friend’s opinion is of me it doesn’t make a difference to me it’s one of those really freeing things of being a parent i’m like huh you care cool awesome you don’t hey whatever it’s all good um so you know these are my oppressive things i give my kids freedom and you know they don’t you know make sure that they can use it and understand it. But then I also give them the way that I can come and kind of help get them out of situations. Now, none of my kids has ever had to do that, but you know, if they were over at another person’s house and you know, they were, uh, you know, whatever situation it is, whether there’s a. you know maybe it’s a brother and the brother’s friends are there and they think it’s hilarious to hit on the girls and you’re like yeah it’s not funny anymore guys it’s just creepy and obnoxious so maybe we can get you out of there or you know they’re i mean my going back to when my brothers were in high school and they were wrestlers and the wrestlers had their kind of team bonding activities that included Things like eating Taco Bell burritos and apparently consuming marijuana. And my brother’s like, yeah, I don’t think I need to consume any marijuana. But he could move to a different room or a different tent on the camping trip that they were on. But if my daughter’s somewhere where there’s marijuana and alcohol that she doesn’t want to consume and it’s not going well, I’m like, well, maybe we can get you out of there. But when she went off to college, she had a lot more freedom. But she had already been trained in how to use that freedom. But if there had been a problem, she was set up and ready so that we had powers of attorney so we could handle things for her. And I still have them. They’re still tucked away in a filing cabinet. I’ve got a couple scans of them so we can take care of her. But for those of us who have newly minted adult children, setting that up is an important part of both our estate plan and the child’s estate plan so we can take care of them. So thanks so much for listening to Mobile Estate Planning with Michael Bailey. I will be back next week. If you want to call me directly, phone number is 303, sorry, that’s the studio line, 720-394-6887. Stay tuned. John Rush and Rush Reason are up next. Thanks and bye.
SPEAKER 07 :
Mobile estate planning with Michael Bailey will return to ATX next Wednesday at 2.30 here on KLZ 560, AM 560, FM 100.7, and online at klzradio.com.
SPEAKER 03 :
The views and opinions expressed on KLZ 560 are those of the speaker, commentators, hosts, their guests, and callers. They are not necessarily the views and opinions of Crawford Broadcasting or KLZ Management, employees, associates, or advertisers. KLZ 560 is a Crawford Broadcasting God and country station.
SPEAKER 04 :
Rush to Reason with John Rush is coming up next on KLZ 560.
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