While wills and trusts both play an important part in how your assets are dispersed, however, these two documents are quite different. Some people aren’t sure if they should have a will or a trust, or perhaps both. Here are a few things to consider about these important estate planning tools. Wills A will is…
Having a financial power of attorney is a very important tool for adult children who are caring for aging parents. It helps to create peace-of-mind if assistance is need in managing financial affairs during an illness, for overseeing specific transactions, or for long-term assistance. Here are six things you should know about this legal designation.…
If you are a healthy adult and fully able to make medical decisions on your own behalf, you might find the idea of designating a health care power of attorney absurd. However, your current level of health, while comforting, may not be a good enough reason to shrug off this important documentation. Here are five…
A guardian or conservator is an individual who is legally responsible for a person (called a ward) who is unable to manage his or her own affairs. The guardian or conservator is appointed by a judge and is able to make a variety of important decisions on behalf of the ward. This individual is called on…
Advanced care planning is proactively making decisions about your care based on personal values, preferences, and discussions with your loved ones. Advanced care planning is necessary with old age or when someone is too ill to make his or her own decisions. Before determining advance care planning for your circumstances, here are a few questions…
A guardian is a person who is entrusted by law to care for a person or property. This might be for a minor or an elder who is incapable of managing his or her own affairs. It’s important to establish a legal guardian for your children that you can trust in the occasion that you…
The National Adult Protective Services Association reports that 1 in 9 seniors have been abused, neglected or financially exploited in the past 12 months but the majority of cases are never reported. In order to prevent our aging population from being taken advantage of, we must utilize the social services designed protect the elderly. Adult…