When many people hear the phrase “estate planning,” they presume that it doesn’t apply to them. These individuals quickly conclude that they lack the assets necessary to warrant estate planning. In fact, estate planning is for everyone who has a desire to leave things to loved ones when they pass.
Estate Planning: It’s Not Just About Dollars and Cents
Even individuals with a minimal amount of assets will likely have some idea where they want this property to go when they die. In some cases, a person will confide in someone they trust, telling that confident what they want done...
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December2015
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December2015
A durable financial power of attorney is designed to extend authority to another individual to manage the financial affairs of the person who creates the instrument. In order for a financial power of attorney to be legally effective, it must be prepared in a certain manner. Although the laws governing financial powers of attorney are matters of state statute, the requirements for preparing them are usually the same in all jurisdictions. Selecting an Agent-in-Fact The first step in creating a financial power of attorney is selecting what is known legally as the agent-in-fact. This is the...
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July2015
No one did it like Sinatra – a legend in every way, Frank Sinatra’s personality was one of a kind. That personality lives on through his will, and some may find its contents provide an interesting point of view on family, money, and priorities. Frank Sinatra’s will contains a unique condition that has his heirs scratching their heads. The family members included in the will are his fourth wife, Barbara Marx, and his three children – Frank Jr., Nancy and Tina. Knowing the scope of the animosity among the children, Frank included a no-contest clause to prevent will contests...
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