A Power of Attorney (POA) is a written authorization to act on another’s behalf in legal matters. The person creating a Power of Attorney is known as the “principal” and the person authorized to act is called the “agent.” A Power of Attorney can be general, giving the agent the authority to conduct any type of business on behalf of the principal, or specific, and limited to the transactions expressly outlined in the document.
When making an estate plan and preparing for the future, most are careful to account for all their assets and personal possessions in their will, but what about your pets? If you’re a pet owner – and you do not include them in your estate planning, your pet may suffer, starve or be destined to a fate that you would never have wanted. Sometimes, and because formal arrangements are not made, a pet owner will merely entrust his animal to a close friend or family member by some informal means. We can all envision how that scenario might play out in the worst of circumstances. Even in the best of those circumstances, the pet's new owner may not be able to keep the pet because of allergies, lack of time, conflict with other pets or a prohibition of pets in the residence. A pet owner's only assurance is to draft legally enforceable documents that will guarantee the pet's future.
You did the right thing – you planned it out, thought ahead, completed your will and signed it with all the appropriate formalities. Don’t allow your family to be left wondering, looking, and asking others "Mom said she had a will, but we have no idea where it is."
Taking care of the basics in advance will help ensure that your money stays in the family and not in the hands of your least-favorite relative… Below are several simple steps you should take now to protect your family and your assets later.
Although the end of your life is something none of us would like to dwell on, deciding what will happen to your assets and personal possessions after your death is important and preparing a Will is the simplest way to ensure that your funds and property will be distributed according to your wishes. And, you’re not alone, published in 2007, Harris Interactive for Martindale-Hubbell conducted a research study finding that for the last three years, 55% of all adult Americans do not have a will. Only one in three African American adults (32 percent) and one in four Hispanic American adults (26 percent) have wills, compared to more than half (52 percent) of white American adults.
A life estate is a type of ownership interest in real estate and the life estate is given by deed but may also be given in a will or trust. A common scenario applies to a parent who wants to “give the house to the children” for estate planning purposes, but maintains control over the property. The parent transfers the real estate by deed to the children but reserves a life estate for him or herself. In this scenario, the parent becomes the “life tenant,” and the children have what is known as a “remainder interest.”
Child Care Power of Attorney is a temporary transfer of legal guardianship of minor children in your absence. It is a specific type of limited/special POA that endows an agent with the authority to make most decisions you would make as a parent. Under this voluntary arrangement, the agent is responsible for caring for the child's safety and welfare;
If you are one of the many who have gone without renter’s insurance you may want to reconsider that decision after a year of wild weather across the US that brought down trees, damaged rooftops, and flooded many basements. Routine weather events like these are typically covered – as are losses related to fire, smoke, vandalism or theft.
Advance funeral planning minimizes confusion and disagreements among loved ones, saves time and money, and helps ensure that your wishes are carried out after your death.
Many people put off buying life insurance for the same reasons they avoid writing their Will: because they believe it will be costly and difficult, that it is unnecessary, or simply to avoid thinking about their own death. But life insurance is a valuable estate planning tool for many people, and the process of buying it can be relatively straightforward.
In an age of ever-increasing reliance on digital information storage, password and other access code management has become a critical (but often overlooked) part of estate planning. After your death your Will Executor will be responsible for administering your estate. In order to do so effectively, he or she will need access to all documents and information related to your property, bank accounts, and other assets.
Frank Sinatra (legally Francis Albert Sinatra) was one of the most well-known and successful American recording artists and actors of all time. He first launched his singing career in the early 1940s after signing a deal with Columbia Records. Despite some ebb and flow over the years, Sinatra maintained significant fame and popularity over a period of more than 5 decades.Page 1 | Page 2 | Page 3