Embed from Getty Images When drafting a Power of Attorney for Finances, clients often wonder if they should execute a “Durable” power of attorney or a “Springing” power of attorney. A durable power of attorney means that the ‘agent’ you select can immediately step into your shoes and gain access to your accounts and manage your financial affairs. This power…
Documents to Review After Divorce or in Anticipation of Divorce Going through a divorce can be emotional and overwhelming. However, if you are recently divorced or are considering a divorce, do not forget to review your estate plan to determine if you need to make changes to ensure your estate is protected from an ex-spouse and the plan reflects your…
John Lennon once wrote: “Life is what happens when you are busy making other plans.” This is a profound thought and it certainly applies to the areas of estate planning, unexpected death, a life-altering accident, unanticipated sickness, home care and assisted living. Regrettably, this lyric applies to Prince, the mega music star who recently died unexpectedly at the age of…
When we think of estate planning, most of the time we think in the context of spouses and children. In fact, most people do wind up bequeathing everything to their spouse and their kids. At the same time, power of attorney and advance health care directives are usually delegated to spouses and children. Yet, there are many successful persons who…
According to the Alzheimer’s Association, approximately 5.3 million Americans were living with Alzheimer’s disease in 2015. Women age 60 and over are considered at highest risk of developing Alzheimer’s disease. Alzheimer’s is a progressive form of dementia that causes problems with memory, thinking, and behavior. While estate planning is important for everyone, it is especially important to consider after a…
California has made some important changes to its Probate Code regarding guardianships, conservatorships and elder abuse that you should be aware of. Up until now, in California and most other states, a wife or husband had the legal right to bar visitation to the other spouse’s adult children who might want to visit them. An ailing spouse may have dementia…
Probate is a legal process used to pass a deceased individual’s property to heirs and beneficiaries of the deceased. Probate must be initiated whether an individual dies with or without leaving a will. A will aids the court in determining how property and assets should be disposed. The probate process can be a lengthy, costly, and complicated process even when…
Here are some of the more popular questions people have about wills and trusts and other estate planning documents. Even people who already have their estate planning documents in order still wonder about these scenarios. Q: Should I Keep My Estate Planning Documents in a Safety Deposit Box? A: Yes – and no. You might keep an original of your…
Many people want to support their favorite charities after death by including charitable donations in their estate plans. For many, however, this goal is at odds with the goal of making sure that family members are provided for. If you are in the process of drafting a will or trust and want to support one or more charities while also…
