What Is a Power of Attorney, Why It’s Essential and How It Works
A Power of Attorney (POA) is a pivotal legal tool that allows one individual to grant another the authority to act on their behalf. Whether you’re planning for the unforeseen future, managing intricate financial affairs, or ensuring that someone can make healthcare decisions for you if you become incapacitated, understanding the nuances of a POA is indispensable. This article dives deep into the realm of POAs, answering vital questions and illuminating its various types and applications. What Is a Power of Attorney (POA)? A power of attorney is a legal document that empowers one person, known as the principal, to…
Revocable Trusts can Help with Planning for Incapacity
While physical disabilities may not impact a client’s ability to manage their own assets, mental illnesses and age-related cognitive impairment can eventually lead to incapacitation and the inability to manage their own assets.
Estate Planning can Protect Beloved Pets
Estate planning, once limited to human beneficiaries, has now extended to include beloved pets in order to provide for their well-being after the owner’s death.
What Should I Know About a Trustee?
A trustee is a person or entity who’s appointed to manage assets held in trust on behalf of a third party. There are few formal restrictions on who can serve as a trustee.
Revocable Trusts Make Sense for Retirees
If you plan to pass assets through a will, just remember that most of the time, that will becomes public once the probate estate is closed. Therefore, if you left one of your children out, left your favorite a bit more or are just a private person, you may be better off with a trust.
Which Trust, Revocable or Irrevocable?
There are important differences between the two types of trusts, including the amount of control you’ll have over your assets.
Is a Power of Attorney Really Necessary?
A document usually included in an estate planning package is a financial power of attorney. What is a financial power of attorney?
How Can I Successfully Transfer My Business to My Children?
Whether planning as the predecessor or the next generation, having the right processes — and partners — in place will set up the transition for success.
How to Decide on an Executor?
Have you found an executor (also known as a personal representative) to handle your affairs should you become incapacitated or die?
Minimize Family Feuds about Your Inheritance
The distribution of wealth among beneficiaries through your final will and testament is often a complex and sensitive issue, one that can potentially spark conflicts and legal challenges among family members.
