What is a Financial Power of Attorney and How Does it Work?

A financial power of attorney (POA) is a legal document that authorizes another individual to make decisions regarding your financial matters. You, the person granting authority, are called the “principal,” and the person who has authority to act on your behalf is called the “agent” or the “attorney-in-fact.” The person you name as your agent […]

Designating Beneficiaries of your Personal Property

When you think about how you want your property distributed in your will, you may have personal property that you want a particular person to receive. For example, you may want each of your daughters to receive a specific item of your mother’s jewelry that has been passed down for generations, you may want your […]

Appointing a Legal Guardian in Your Last Will & Testament

As important as it is to think about your family’s financial future in your estate plan, if you have minor children, it is just as important to consider who will care for your children if both parents should pass away before your minor children become adults. A guardian is a person who has legal responsibility […]

The Difference Between Probate and Non-Probate Assets

In the world of estate planning, the distinction between “non-probate” and “probate” assets is important. Your “non-probate assets” will pass directly to your beneficiaries without Court involvement. On the other hand, the Court will direct the distribution of your “probate assets” to your beneficiaries based on your Will, or to your heirs if you die without […]

What is a Codicil?

After people have a will in place, time passes and “life happens” – people get married, have children, family members pass, familial relations change, and people lose and acquire property. Instead of writing an entirely new will, a codicil allows one’s existing will to be changed. A codicil can modify, add to, subtract from, or […]

August: National Make-a-Will Month

BLOGGED: August: National Make-a-Will Month   August is National Make-a-Will Month. It is important to have a will, regardless of whether you have children or own a lot of assets. If you do not have a will, the distribution of your assets is pre-determined. Without a will, you cannot choose your beneficiaries, nor can you […]

The Healthcare Power of Attorney and Living Will

BLOGGED: The Healthcare Power of Attorney and Living Will     A power of attorney (POA) is a document in which you (the principal) appoint another person (the agent) to manage your affairs in the event you are not able to do so. The healthcare power of attorney allows your agent to make medical decisions […]

Estate Planning 101

BLOGGED: Estate Planning 101 For many people, the thought of “estate planning” may be overwhelming. To some, it may seem unnecessary if there are no children or assets involved. However, planning is not only about death and property distribution. Estate planning also sets a plan for what happens in the event you’re incapacitated and cannot […]