A Power of Attorney (“POA”) is a very useful and inexpensive document to obtain. If you do not have a POA, in order for your spouse or loved ones to make financial decisions for you, they must institute a guardianship proceeding.
I am happy to announce that we have finally finished creating a series of short videos regarding the estate planning and estate administration process. Here is our third video in which Kevin A. Pollock, Esq., LLM is being interviewed by Pierson W. Backes, Esq., the head of our estate litigation department, regarding the things a […]
Holiday gatherings are often a time for us to gather with relatives and friends. The bustle of activity can highlight the impact that aging has had on our loved ones in the passing year. Observing decline in the people we care about can be unsettling and may generate many questions about how to best care […]
I was discussing the affect of a divorcee naming a guardian for minor children in a Will with a few colleagues the other day and I thought I would share some of our findings. When there is a custody dispute between a natural parent and a third party, the law regarding who has custody of the child […]
Clients frequently ask me for advice on who they should name as Executor, Trustee or Guardian when creating their Last Will and Testament. First, let me explain the difference between the three roles. The Executor The Executor is the person who probates your Will, goes into your house and looks through all your things, safeguards […]
Estate Planning for A Special Needs Child In Part III of this Series, I want to discuss estate planning issues for parents of a special needs child. A typical estate plan for parents without a special needs child includes: Will; Financial Power Of Attorney; Health Care Power of Attorney; Advanced Health Care Directive; and Naming […]
Guardianship In Part II of this Series, I want to discuss why formal guardianship is important and how to go about being recognized as the legal guardian of a special needs individual. Until the person turns 18, a parent can legally make decisions for the child. However, once a person turns age 18, he or […]
To determine who gets your money (Naming beneficiaries) To determine guardianship (Saying who will take care of you children) To determine who controls the money (Naming of executors and trustees) To minimize estate or inheritance taxes To avoid the cost of an insurance bond (If you do not allow for an executor or administrator to […]