A medical power of attorney takes your healthcare decisions out of your own hands and gives them to someone else. You pick that person and name them in the document. Many people choose their adult children, for instance, or someone else they can trust to make decisions with their best interests in mind.
When you're contemplating end-of-life issues and your final wishes, it's important to watch out for some painfully common mistakes.
Once you set up a revocable living trust to hold your assets, you don't necessarily stop acquiring new assets. What happens if you die before some of those new assets have been added to the trust (or otherwise been assigned designated beneficiaries)?
Everybody struggles to find gifts during the holiday season that express their love for family and friends. While it might seem strange, an estate plan might be an absolutely wonderful gift for someone you love.
The Internal Revenue Service (IRS) has announced the 2019 limits for gift taxes and estates -- and it's a huge relief for many wealthy seniors who may have been worried about any large gifts they hoped to pass along to their heirs.
Are you worried that the wealth you intend to pass on to your heirs will cause those heirs to lose their focus and falter on the path to personal success?
It won't be long before college freshmen will be returning home for winter break with one full semester under their belts. In all the excitement of getting your son or daughter ready for college, there are two very important things that you probably neglected to discuss: financial and medical powers of attorney (POA).
A power of attorney document provides you with a sense of security in uncertain times by making it possible for someone to step into your shoes and carry out certain functions essential to your life when you aren't able to handle them yourself.
Most people think that if they have their will written, signed and tucked away someplace safe that they're done with estate planning.
You may already be very conscious of the fact that everyone -- regardless of their age or wealth -- should have an estate plan. Accidents can happen in a flash and make the unthinkable a reality, so it's always best to be prepared.