Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. A Secret Agent may be very important to protecting the nation. Your Agent is just as important for your protection. An Agent is the person who makes financial decisions for you under a Financial Power of Attorney or makes medical decisions for you under a Health Care Power of Attorney. The Agent under your Financial Power of Attorney may act for you when you aren’t … [Read more...] about Selecting an Agent
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Most of us recognize that estate planning is the loving and responsible thing to do. Yet, only 44% of adult Americans even have so much as a simple Will, according to a Gallup poll. Our world is increasingly complex. It seems our lives are busier than ever. Interestingly, this may not be what leads us to procrastinate. According to Psychology Today, there are three … [Read more...] about Estate Planning is Too Important to Procrastinate
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is part of a series of 6 blogs on important estate planning considerations. I’ll intersperse these blogs with other timely blogs. Often, when people think of “estate planning” they think it’s a task only for the old, the rich, or the infirm. But, that simply is not true. Estate planning is something you do when you care, regardless of your age, wealth, or … [Read more...] about 6 Important Estate Planning Considerations – Part 1: Incapacity
THE IMPORTANCE OF INCAPACITY PLANNING Who Will Manage Your Health Care Decisions? For most of our lives, the greatest risk to our well-being is the ever-increasing likelihood of becoming seriously ill or injured. When illness or injury makes us unable to manage our own affairs, we may face the legal ordeal of a Conservatorship which can be a living nightmare for those who must go through it. Many people fail to plan ahead for their possible incapacity because they think it only happens to … [Read more...] about The Importance of Incapacity Planning
When you hear mention of a power of attorney, you may feel as though it is not something that you would need as part of your estate plan. Most people are aware of the fact that in a general sense a power of attorney is used to allow someone to act on your behalf in a legally binding manner. However, powers of attorney are in fact going to play a role in your estate plan if you want to be comprehensively prepared for the future. It's not all about arranging for the transfer of your … [Read more...] about What Are the Advantages of a California Durable Power of Attorney?
What is a durable property power of attorney? A durable property power of attorney is a legal document where one person (the principal) authorizes another (the agent) to act on the principal’s behalf regarding financial decisions. It is an estate planning document which allows a person to plan for the care and control of property in the event he or she becomes incapacitated. Powers of attorney are the single most important documents to put in place so that a family member or trusted friend will … [Read more...] about Durable Property Powers of Attorney (An Elder Law Today Blog)