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Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by the financial services company HSBC.
Over the years, several high-profile celebrities have died without either properly updating their estate plan or having one at all. The list includes Princess Diana, Prince, Heath Ledger, Michael Jackson and Kurt Cobain, all of whom were worth millions and among the most famous people on the planet at the time of their death.
There is no clearly defined age when you become a senior citizen. Some people might consider themselves seniors when they retire from the workplace, sign up for Social Security or begin to spend their retirement savings, but others aren’t ready to call themselves a senior citizen yet.
When an individual cannot make important decisions for himself or herself, a judge appoints someone called the conservator or guardian to make decisions. The conservator has the legal backing of the court in all decisions, including finances, medical and personal care.
The difference between power of attorney and guardianship is a common question asked by adult children. Both roles share a duty to provide care and oversight of medical care and health.