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PRoviDeD By attoRney oRa schWaRtzBeRg
Myth #1: If I need help paying my bills, I can just add my child to my bank account. Nothing bad will happen.
False. When you add a child
or anyone else to your bank ac- count, you are making that per- son a co-owner of the account. Your child can pay bills using the money in your bank account, but your child can also use the money for any other purpose. This is because your child now co-owns the account. In addition, because the bank account would be deemed owned by your child, it would be susceptible to division in a divorce, seizure in a lawsuit, and theft by a predator.
Myth #2: Giving someone the power to manage my finances means I am giving up control.
False. If you name someone as an agent under a financial power of attorney, you allow that person
to handle the types of financial transactions that are listed in the document. However, just because your agent can handle these mat- ters does not mean that you can- not also handle them. The only reason you would not be able to manage your own financial af- fairs is if you were mentally un- able to (otherwise referred to as being incapacitated).
Question #1: What can I do to protect myself from scammers?
Proactive planning can pre- vent you from becoming a statis- tic of elder financial abuse. The first step is to make sure that, while you are mentally able, you put your wishes regarding the use of your money and property into
a legally binding, written docu- ment such as a financial power of attorney, last will and testament, or revocable living trust. This way, should you lose the ability to manage your finances, your explicit wishes are already ex- pressed in these valid documents, eliminating a loophole that some- one could use to take advantage of you.
Question #2: Should I just give my money outright to my chil- dren? What could go wrong?
If you give money or property outright to a child, the money or property will automatically be theirs. This means it can be spent as the child wants, used for calcu- lating and paying a divorce settle-
Boy scouts Hunter and Beck La- Roche and Cayden Olszak also were on hand to help customers bring plants to their cars. This is the second year members of local troops have volunteered at the sale, and all appreciated their helpful and friendly presence.
The sale culminated several busy weeks of Garden Club activities. In April and May, plants for town barrels, garden
ment, seized as part of a lawsuit, or stolen by a financial predator.
Alternatively, if you place the money and property you want your child to receive into a trust, you can protect it from some of these issues. First, you can deter- mine how much and when your child will receive the money or property. This can allow you to spread the money and property over a period of time—for ex- ample, one-third at age twenty three, one-half at age thirty and the remainder at age forty. You can provide your child with ad- ditional protection by giving the trustee the absolute discretion as to when or if your child receives the money and property from the trust.
areas, hanging planters, town signs, beach signs, and plant- ings at town buildings were purchased and organized for specific locations. Members of the Pasquaney Garden Club and the Bristol Decorating Commit- tee take responsibility for main- taining all of these plantings over the summer season. The cheery colors and greenery really bring the area to life. Volunteers report receiving comments of appreci- ation from passersby whenever they are out and about caring for the plants.
Sandra, one of the planting crew, related an incredible story of volunteer spirit from two young girls. As she was clearing and preparing the planting area with fresh soil, the girls and their mother stopped to ask what she was doing. Sandra explained, and the girls asked if they could help! Sandra said the girls care- fully followed instructions to place the plants and surround them with the right amount of soil, fertilizer, and water. Great job, girls! Your help and interest in beautifying our community are appreciated.
Upcoming date for Pasquaney Garden Club include:
Tuesday, July 12th, 9-11 am, at the Butterfly Garden, Minot Sleeper Library
Garden Workday, all welcome
Pasquaney Garden Club is a 501(c)3 nonprofit organization.
Myths and Frequently Asked Questions
Estate Planning for Senior Citizens
Pasquaney Garden Club Thanks
Newfound Community for Best Plant Sale Ever!
The neighbors of the New- found area showed up big time to support the Annual Plant Sale! Early on Saturday, June 4th, members of the club delivered, priced, and displayed a wonder- ful variety of plants grown in
their own gardens and divisions from the plants in the Butter- fly Garden they grow maintain behind Minot Sleeper Library, and then more plants arrived. Friends and neighbors came to donate plants and stayed to pur-
chase new choices to take home to their own gardens.
Club members were kept busy assisting as large groups of people perused the offerings and asked questions of Master Gar- deners and other club members.
Cardigan Mountain SoapWorks Gentle Handmade Soap Products
• Herbal Sprays - Bugs Away & Ticks Away
• Local Maple Syrup and Honey • Herbal Teas and Candles
464 Mt. Cardigan Rd, Alexandria • Hours: Wednesday - Sundat 11-4pm

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