Many people think that estate planning and writing a will are the same. However, one is actually just part of the other.
Does a person need a Power of Attorney document if that person already has a Last Will and Testament (‘Will’)? It is a good question.
Although laws vary from state to state, every state requires that less restrictive alternatives be considered before invoking a guardianship. These might include such vehicles as limited guardianships, powers of attorney or assisted decision-making agreements.
A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries. It can also significantly reduce the headaches of probate. However, while some assets belong in a trust, others cannot (or should not) go into one.