We've found that most people are not aware that even though they pay the medical insurance bill for their young adult, they ARE NOT entitled to their 18+ year old’s medical and financial information. Even in the best of times, high school graduates - now adults - should create powers of attorney naming their parents or other trusted adults as their financial agents and medical proxies should they become temporarily incapacitatedThis is especially relevant during times of a public health … [Read more...]
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The Basics: Powers of Attorney for Healthcare
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. This article concerns the Healthcare Powers of Attorney and Advance Directives. Read on to learn more … [Read more...]
The Basics: Financial Power of Attorney
This is the first in a three-part series of articles on Powers of Attorney. This first article examines the Financial Power of Attorney. See two real-life examples of when having a Power of Attorney would turn out to be useful: read more … [Read more...]
Facing Reality: The Essence of Family Business Succession Planning
Written By: The American Academy of Estate Planning Attorneys A simple search online these days can turn up lots of advice regarding the importance and benefits of buy-sell agreements, deferred compensation agreements, and life insurance in family business succession planning. While knowing this information is valuable when thinking about the transition of a family business from one generation to the next, none of it will come into play until a business owner is prepared to face reality … [Read more...]
Who can contest a will?
In order to have standing to contest a will, you need to prove that something about how the will was written may be illegal. You won’t have standing if the will is ironclad, even if the distribution of assets may seem unfair. The following parties have standing to contest a will: Even if you do have standing, you also need a solid reason to challenge a will. Legal reasons for contesting a will may include the following: The testator was not mentally competent. The person to whom … [Read more...]
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