A power of attorney is a document that lets you appoint a person or an organization to handle the financial and medical decisions on your behalf, when you are not able to because of sickness or death. The person or the organization is called the attorney-in-fact or the agent. POA is given to someone whom you can trust with your life.
Geckos are amazing and resilient creatures. They can climb up vertical surfaces. Some geckos can fly. If you cut off a gecko’s tail, they’ll grow it back. These five tips for making an estate or trust administration go smoothly create the acronym ‘GECKO’. So, keeping the amazing lizard in mind, read on for some helpful advice on how to ease the process of estate or trust administration. [Read More]
Adults with disabilities are living much longer than in the past, which means their aging parents must plan for the day when their dependent children outlive them.
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.
Taking over a loved one’s affairs is not easy. However, what can make the task less daunting, is to make sure you get off on the right foot by obtaining the necessary legal documents and other information which will make your job much easier.
Turning 65 is a major milestone for many Americans, as it is the traditional age at which they start thinking seriously about retirement.
My father only designated my mom as an agent on power of attorney forms, and they have not been updated in many years. Where do you think we should go from here?
If someone has lost capacity to execute legal documents and has no power of attorney in place or has a power of attorney that is no longer usable (for example, if the named agents are deceased), a guardianship proceeding may be the only recourse.
We often use the euphemism “getting hit by the bus” to begin the discussion and get our clients thinking about what the reality of that situation would look like, if they were suddenly no longer available.
