Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.
Even Consumer Reports suggests working with an experienced estate planning attorney to make sure documents are correctly prepared.
What do these appointments mean to the person(s) named to act? What happens if they fail or decline to act? Can the planning appoint alternative representatives?
The three main areas of focus for elder law attorneys include health care, estate and tax planning and guardianship matters.
So, what happens with your estate plans if you are not in a traditional nuclear family? There is quite a lot that can fall under the umbrella of a non-traditional family, and the recommendations will vary depending on your specific circumstances.
Here are some important parts of your estate plan that should be reviewed.
One of the most important estate planning documents for all persons over the age of 18 to consider is a durable power of attorney.
To get power of attorney (POA), the person granting you that power must name you as the agent to have the powers specified in the POA document. It must be signed by the giver while s/he is sound of mind.
Like DMX and Prince, many Black Americans have failed to participate in the estate planning process.
Without a will, decisions made about your property and assets will be handed over to local courts, which can make an already challenging time even harder for your loved ones.