According to data collected and maintained by the National Association of Estate Planners, a shocking 120 million adult Americans do not have an adequate or up to date estate plan in place. In other words, a majority of adult Americans run the risk of not having their wishes followed when the pass away. Moreover, a considerable number of these same people also face the prospect of paying more in estate tax and probate related fees because of their failure to properly plan.
There are a number of steps that people need to consider taking in order to ensure that they have a viable estate plan...
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December2015
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December2015
People naturally want to maintain control over decisions relating to health care. In some instances, people reach a juncture at which they are unable to actively make these decisions on their own. They must rely on others to act on their behalf. A durable medical power of attorney is the key instrument to ensure that a person's health care directives are followed. Adults of all ages, and from all walks of life, are encouraged to create a durable medical power of attorney. There are a number of factors that a person must bear in mind when contemplating the creation of a durable medical...
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December2015
A key component of estate planning for many individuals is the writing of a last will and testament. There are specific protocols that must be followed in order to execute a will in a proper manner. State Law Governs Wills The laws of each individual state governs the manner in which a last will and testament is to be executed or signed. With that said, there are some general will execution protocols that are followed across the United States, including in the commonwealth of Pennsylvania. Sound Mind and Body A person intent on signing a will must be of sound mind and body. What...
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