While everyone knows the important of having a Will, about 70% of Americans still haven’t created one. But before you start drafting, you should know that different Wills do different things. A Simple Will for example, covers your basic necessities, such as provisions for your children and distribution of assets. There are templates available on the internet but because estate planning can get complex very quickly, it’s best to have a qualified estate planning attorney draft your Will for you. … [Read more...] about Understanding the Different Types of Wills
A Power of Attorney is a legal document that enables you to give someone you trust the authority to act on your behalf. This is most commonly seen in real estate negotiations, where one or both parties assign authority to their attorneys to negotiate on their behalf. But a Power of Attorney can also be a handy thing to have on a personal level too. A general Power of Attorney would allow your spouse to pay your bills for example, access your checking account and even discuss payment options … [Read more...] about What is a Durable Power of Attorney?
In the world of estate planning, there are a variety of documents you can use to protect your assets, provide for your loved ones and plan for unforeseen events. One of the most common of these documents is the Will, but not every type of Will is the same. For example, a Last Will and Testament is the traditional “Simple Will” that outlines how your assets should be distributed after you’re gone. This document can also be used to set up a trust after your death and it can designate who should … [Read more...] about What’s the Difference Between a Living Will and a Last Will and Testament?
No one wants to think about the possibility of becoming disabled. However, like death, disability can occur without warning at any time. You might want to consider having a plan in place in the event of an unexpected disability. A good estate planning attorney can help you create a plan that meets your needs, using a variety of incapacity planning documents. Create a Living Will A Living Will is designed to describe what sort of medical treatment you want prior to death. It is not used to … [Read more...] about Preparing Yourself for the Possibility of Disability
A lot of you may have heard of a "Power of Attorney", also known as "attorney-in-fact", but perhaps not all of you really know what it is exactly. There are two broad categories of powers of attorney: 1) Property Power of Attorney; and 2) Health Care Power of Attorney. We'll address the health care power of attorney in a future blog, one that deals with a few separate documents that deal with health care matters. What I want to talk about here is the property power of attorney. By … [Read more...] about What is a Power of Attorney?
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