MEDICAL POWER OF ATTORNEY
Every adult (including those kids in college) should have a Medical Power of Attorney.
WHAT IS ESTATE PLANNING?
Estate Planning is the process of drafting documents in which you set forth your wishes for managing your assets during your life if you become incapacitated and for how your assets will be distributed at your death.
LIVING TRUST VS. WILL
You must decide between using a Living Trust and a Will as your main document when you prepare your estate plan. Many people are confused by the differences.
PREPARE A DURABLE POWER OF ATTORNEY
Every adult (including those kids in college) should have a Durable Power of Attorney. In this document you name a trusted person to act as your agent for financial matters while you are living.
WHAT IS “PROBATE” AND IS IT IMPORTANT TO AVOID IT?
Probate takes place when the owner of property dies and an asset must be transferred from the deceased to another person.
WHAT IS A REVOCABLE OR “LIVING” TRUST?
A Revocable Trust can be used as your main estate planning document instead of a Last Will. It is important to note that if you have a Will, the probate process must be used to administer the Will.