Incapacity planning is one of the most common secondary goals of a comprehensive estate plan, as well it should be. Protecting your assets and your loved ones in the event of your death is certainly an important goal; however, the same basic reasoning should also encourage you to want to protect both from the possibility of your incapacity. Deciding how your property will be handled in the event of your incapacity is a primary focus of most incapacity plans. Toward that end, you may consider … [Read more...] about What Are the Advantages of a Durable Power of Attorney for Property?
Given how common they are, it should not be surprising that most people, at some point during their lifetime, execute a power of attorney. A power of attorney, or POA, can be used for a virtually infinite variety of purposes and objectives. If you do decide to execute a POA it is critical that you understand what you are signing, with particular emphasis on the authority you grant to the Agent under the POA. One decision you will need to make is whether you should have a durable power of … [Read more...] about Should I Have a Durable Power of Attorney?
When you finally sit down to create your estate plan you will be faced with a number of difficult, yet important, decisions. Although many of those decisions will relate to the disposition of assets upon your death, not all of them will. For example, you may find yourself wondering “ Should I have a South Carolina durable power of attorney for health care in my estate plan? ” In order to make that decision you need to know what a durable power of attorney for health care is and how one is … [Read more...] about Should I Have a South Carolina Durable Power of Attorney for Health Care?
Although every estate plan is unique to the individual creating the plan there are some strategies and tools that are commonly used when creating an estate plan. A “ power of attorney ” is one of those tools. When used properly a power of attorney, or POA, can be a useful addition to any estate plan. Before you execute a POA though it is imperative that you have a thorough understanding of what a power of attorney is, the authority is can convey, and the different types of POAs that can be … [Read more...] about What Is a Power of Attorney?
Those who want to be comprehensively prepared for the future should be very practical and avoid wishful thinking. If you prepare for potentially challenging situations in advance you are doing what you can to control the fallout. With the above in mind you would do well to execute the appropriate incapacity planning documents when you are planning your estate. There is a distinct possibility that you will suffer a period of incapacity before passing away. This sometimes happens to people … [Read more...] about Documents to Include When Planning for Incapacity
You have to be prepared for the possibility of incapacity if you want to plan ahead for the future in a comprehensive manner. This falls into the category of those instances when you hope for the best but make sure that you are ready for any challenges that may present themselves. There are those who don't take incapacity planning seriously because they are under the impression that it is very unlikely that they will ever become unable to make their own decisions. But when you put the matter … [Read more...] about Incapacity Strikes Significant Percentage Of Elders
While it is true that taking care of the financial side of things is a big part of estate planning it is wise to see the entire picture and plan comprehensively for all the eventualities of aging. After all, when you are taking steps to arrange for the eventual transfer of assets to your loved ones you are doing this because you care about them and want to do right by them. At the same time, there are some other things that you can do to make things easier on those that you will be leaving … [Read more...] about Asserting Health Care Choices
A financial power of attorney or power of attorney for healthcare can be an extremely beneficial addition to your estate plan. Both of these documents can make a big difference in your life, if you’re ever unable to make your own decisions. Not having a power of attorney has risks. Take a look at some of the information below to learn more about the importance of a power of attorney. If you become incapacitated risks are realized: Without a financial power of attorney, your family will … [Read more...] about The Risks Associated with NOT Having a Power of Attorney
Are you thinking about starting your estate planning? If so, there are many estate planning documents that you will want to consider adding to your plan. With the right documents in place, you can prepare yourself for the future. If you have any questions about the use of these documents, or if you’d like to begin your estate planning, meet with an estate planning attorney. Living will This document allows you to spell out your medical wishes. This includes the types of medical treatment … [Read more...] about Must Have Estate Planning Documents that Prepare You for the Future
Have you ever consider using a power of attorney document in your estate plan? If you have ever wanted to protect yourself in the event of a disability or terminal illness, you should consider using this document. Whether you choose to create a financial power of attorney or a healthcare power of attorney, you may be doing yourself a great favor. Take a look at some of the information to learn more about the use of these documents. If you have any questions, or if you’d like to create a … [Read more...] about How Can a Power of Attorney Help Me?