If you find it increasingly difficult in recent years to have your power of attorney recognized by banks and financial institutions, it might help to know some of the history behind both changes in the law and in attitude.
If you have any reservations about who you have in mind when writing your will, whether you're thinking about a young child or even an older person who could be vulnerable to scams, a trust could make a lot of sense.
You may have a will or a full estate plan that was prepared by an attorney in another state, or perhaps you haven’t yet taken the important step of planning your estate.
Without proper planning, leaving an inheritance or making a gift to a disabled family member can cause the disabled person to lose their means-based government benefits, such as Supplemental Security Income or Medicaid.
Parents are often more than happy to offer financial advice to their children. They like to feel needed and want to make sure you're on solid financial ground. However, it's important to turn the tables and ask about their financial plans, too.