In estate planning, the durable power of attorney is extremely important for a number of reasons. It allows you to decide who will step up to the plate and carry out your financial decisions and affairs should you become incapacitated. Needless to say, when deciding who to appoint as a Power of Attorney, it’s a powerful role you’re filling and your … [Read more...] about Understanding the Durable Power of Attorney
Reciprocal Last Will and Testaments, sometime called “I Love You” Wills, is an estate planning device that allows married couples to easily leave their entire estate to the other spouse in the event of death. To decide if a Reciprocal Will is right for you and your family, consider the potential benefits and pitfalls that come with this legal … [Read more...] about Benefits and Perils of Reciprocal Wills
Making out your Will is only the first step to having a solid estate plan. In addition to keeping it updating, you also want to make sure you store your Will is a place that is both accessible to your family and well-protected. Here’s a few ideas to help you out. In a Safe-Deposit Box This option is popular because the Will is accessible by the … [Read more...] about Where Should I Store My Will?
Estate plans include a variety of legal documents and plans that are put together to alleviate the impact of your death on your loved ones. At the center of an estate plan is a valid and legal Will that details the distribution of your assets and property. But as you grow older and your life changes, it’s important that your Will addresses these … [Read more...] about When Life Changes – Knowing When To Update Your Will
A will is a legal document that tells others how a person’s property will be dealt with upon his or her death. It names those who’ll inherit the assets (the beneficiaries) and designates a person or entity to oversee the distribution of assets, known as the executor or personal representative. Your beneficiaries can include spouses, children, … [Read more...] about What is a Will?