When creating an estate plan, it's important to consider what would happen to you in the event that you become incapacitated. This is where a health care proxy comes into play. With this legal document, you have the right to appoint a health care agent to make medical...
Address these estate planning questions in your 50s
As you age, it's important to stay in touch with your estate plan. What you had in place in your 30s and 40s may no longer suit you now that you are closing in on retirement age. Here are some of the most important estate planning questions to address in your 50s: Are...
What is a health care power of attorney? Do you need one?
When many people hear the phrase "health care power of attorney," confusion immediately sets in. People don't know what it is, if they need it,or how it could improve their estate plan. Here's what you need to know — if you become incapacitated for any reason,...
Guardianship of a disabled person: His or her powers
A guardianship is every bit as important as it sounds. With this legal tool in place, one person has the power to make decisions for another, such as in the event of his or her incapacitation or a disability. With a mental or physical disability in place, a person may...
Is a trust right for you? Answer these questions
At some point, you may come to realize that your estate plan requires your attention. This often comes into play if you have reason to believe that a trust could benefit you and your family now and in the future. The question of whether or not a trust is the right...
What to know about a durable financial power of attorney
As you create an estate plan, it's only natural to spend most your time on your will or trust. This goes a long way in ensuring that the right people receive your assets upon your death. While it is important to focus your time and attention on these details, here's...