You may already understand the importance of having a power of attorney (POA). It is invaluable to have a person you trust to make decisions on your behalf if you become incapacitated. But if one is good, is two better? The pros and cons A POA is a legal document that...
Creating an estate plan is a way that you can let your loved ones know your wishes about how various concerns should be handled after you die, including your finances and assets. Some people opt to outline their plan for assets in a will, and others choose to use a...
When making a will, the testator has several important considerations to make. The first consideration is often deciding who will inherit assets from the estate. The second consideration is typically naming someone to help administer the distribution of the estate....
If you have particular preferences for your medical care in case you become incapacitated, you can set out your wishes using healthcare directives. These legal documents provide a way to communicate your healthcare decisions to family members and medical professionals...
It can be a difficult decision to disinherit someone. But there are situations where you may think it’s necessary. Maybe you are worried about how the beneficiary would use their money or maybe the two of you have become estranged. You may think that the easiest way...
A trust is a common legal document added to an estate plan to protect assets, and it is overseen by a fiduciary known as a trustee. The trustee is responsible for managing the trust's assets and distributing funds to the trust's beneficiaries. There are several kinds...
Personal representatives of estates play a crucial role during probate. Their duties include managing the estate assets, paying outstanding debts and taxes and distributing assets according to the deceased’s will or state law. Given the significant responsibilities...
For decades, living wills helped give people control in the event of a medical emergency. People engaged in estate planning could choose to draft a living will as a way of determining what medical care they receive in an emergency. Many people only ever sit down to...
If you are fortunate enough to own pieces of art, then you likely want to ensure that they end up in good hands when you’re gone. This may not be as simple as it is with other assets. Here are some things to consider when choosing one or more beneficiaries for your...
Estate planning documents, such as wills and trusts, serve different functions. However, they all share one common feature- they are intended to reflect the wishes of the creator. That common feature is arguably the most important aspect of estate planning. While...
