If you served the United States of America as a member of the armed services, you may be entitled to certain benefits that could make some aspects of getting older a little easier.
The durable power of attorney is one of the most effective and important planning tools for medical care and estate planning, since it enables a person (the principal) to delegate certain powers to another (the agent) by means of a written legal document.
Unless you take your heirs' wishes, taxes and interests into consideration in your plans, you could be committing some serious unforced errors with your estate.
If you think Estate Planning is simply the creation of a will or trust, you are missing a large portion of information, and could potentially have assets that do not flow according to the plan you have set up in your will or trust.
The word “estate” conjures images of great wealth, which may be one of the reasons so many people don’t develop estate plans. Afterall, they’re not rich, so why make the effort?
Let’s face it: mortality is hard to think about and death is impossible to plan for. What is doable, however, is getting affairs and assets in order to prevent loved ones from inheriting a headache and legal fees in the event of an incident.
If you or a loved one is living with a chronic disease, such as Parkinson’s, multiple sclerosis, or Alzheimer’s, your estate planning likely should reflect that challenge.
Parents' instincts to protect their children can cause them to hold back on some important truth-telling about the kind of inheritance they might expect, but that could be a big mistake.