You should incorporate Power of Attorney (POA) documents into your estate planning process. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to…
Almost all older adults recognize the importance of estate planning. Yet, nearly half of Americans age 55 or more do not have a will, and even fewer have designated powers of attorney, a living will, or health care directives. These…
In a will, a testamentary designates that a public record of the death date of the testator be made, usually in a local newspaper. In part, this information serves as notice to creditors if the decedent has an outstanding debt…
You likely have a beneficiary since these are common designations in retirement accounts, wills, and trusts. A beneficiary is an individual (or legal entity) to receive the proceeds from a financial product or vehicle when the owner passes away. What…
Planning an estate requires thoughtful discussion and careful consideration with your spouse or life partner. Before meeting with an estate planning attorney, it is best to discuss your ideas to present a united goal. This conversation can be challenging if…
Imagine that your estate plan is complete. Managing your home, savings, and investments involves ensuring your family receives your valuable estate items in an unbiased, fair, and efficient manner. Your plan will also protect your legacy from your children’s potential…
In addition to Amazon, Apple, and Google, Microsoft and Facebook are also planning their entry into healthcare in the US. Some of the businesses are underway, like storing medical records in the cloud for a fee or using patient forms…
As Medicare and Medicaid Services look to the future of the US health care system, they predict that it will become overburdened with seniors needing medical care. In 2010 the US elderly population accounted for about 13 percent of the…
Many older Americans are widowed or divorced at record numbers, which prompts new partnerships. The US Census Bureau reports that more than half of all older adults have only married once, opting to stay legally single in their future relationships. Cohabitating can…
Special needs trusts, often referred to as supplemental needs trusts are an estate planning tool particularly useful for parents of mentally and physically disabled children. This type of trust will receive assets from you or another benefactor expressly for that…