When does a health care proxy become effective?
One of the best ways to prepare for the unexpected is to have a trusted friend or family member act as a health care proxy. It is not mandatory by law to name a health care proxy, but doing so might be helpful in case of a serious accident or sickness. If and when the time […]
Can a power of attorney authorize medical decisions?
A power of attorney is a legal document that authorizes an agent to make decisions on your behalf. Despite what the document’s name suggests, the agent does not always have to be a lawyer. It might be a relative, friend, or someone you trust who has your best interests in mind. A power of attorney […]
What does a supplemental needs trust do?
In estate planning, it is typical for individuals to consider multiple tools to ensure they are preparing the appropriate documents for their needs. If one of the grantor’s beneficiaries has a disability, one of the estate planning tools they consider is a supplemental needs trust (SNT). Understanding the trust The supplemental needs trust is an estate planning […]
Should your teen have a living will before attending college?
As a parent, you are proud to have raised a smart and well-rounded son or daughter. Now that your child’s high school graduation is on the horizon, you are probably busy finding the right college or university. Your teen probably has some work to do prior to moving into the dorms, though. Before your teen […]
What is a living trust?
The vast majority of Americans understand the concept of wills and know why they are important. However, particularly if you have many assets, wills are not the only tools available to you. Many Americans choose to place some of their assets in living trusts. Living trusts provide benefits that wills do not, and depending on […]
Choosing the right trustee for your estate
Estate planning is difficult but necessary. To make sure your estate gets the treatment it deserves after your passing, you should record in detail your final wishes and appoint a trustee to carry out your last will. Your trustee should be healthy The person you appoint to handle affairs on your behalf after your death should be […]
Can an estate executor manipulate the estate owner?
Estate plans cover a lot of ground. After all, one estate plan needs to cover every single one of a person’s assets, what they want to do with said assets, who their beneficiaries are, how they want their body handled, and much, much more. Unfortunately, while most estate owners will leave these matters to a […]
What are some signs of a good executor?
Writing your will and thinking about probate can leave you wondering who you should choose for an executor. This person is responsible for helping fulfill your wishes after death as well as paying off important debts. While you may know many people and feel close to them, the traits that would work best for this […]
Do you need to update a will?
After creating an estate plan, you may think that you do not need to look at these documents again. However, you should review your estate plan regularly to make sure it still reflects your current circumstances. You may need to reexamine an estate plan for practical reasons. U.S. News and World Report says that New […]
What do you know about choosing an estate executor?
You have a lot of documents to draft and complete while tending to your estate, but you have a lot of other decisions to make, too. Do you know whom you want to serve as your executor? CNBC explains the role of executor and qualities to look for. Get insight into making the right choice for the […]