As the name implies, a trustee occupies a position of trust and authority. They have a duty to the trust itself and its beneficiaries. Typically, the person who creates a trust will name a trustee whom they think is capable of managing the trust. Usually, the person...
If there is one reason that the average person doesn't have a power of attorney, it is probably that signing away some of their authority makes them nervous. Many people don't like the idea of giving someone else the power and legal authority to make their medical...
As a part of your estate plan, you should establish your health care wishes if there comes a time when you can’t speak on your own behalf due to a serious illness or injury. Many people establish a health care proxy and give at least one person some power to make...
It’s normal to see family members with differing opinions on how to handle the passing of a loved one. It’s normal to see them argue about caring for an elderly loved one who needs more care and attention than in the past. Unfortunately, those arguments could get out...
A serious art collector may have hundreds of thousands or even millions of dollars in their collection. It will contain many one-of-a-kind pieces that simply can’t be found anywhere else. Even if you just collected art for the love of art itself, and not as an...
You’ve got a tight-knit family and you’ve always taken care of your own, so the whole idea of asking a stranger to manage your disabled adult child’s special needs trust makes you wildly uncomfortable. Just the same, it may be far wiser to go with a professional...
For many, long-term care planning means considering things like nursing homes and assisted living centers. You can work on all of this as part of your estate plan. You know that you could have many healthy years ahead of you, but that doesn’t necessarily mean that...
Guardianship can seem like a punishment to an older adult still desiring independence, but that isn't an accurate perception of guardianship. Guardianship is actually a powerful tool that helps concerned family members or even strangers step up and help protect...
As you contemplate your estate-planning process, one potentially useful tool you might ponder is a spendthrift trust. While not everyone will need to include this estate-planning tool, those who do need one find them to be a good way to protect beneficiaries from...
There are many components in a comprehensive estate plan. While many people think about the will and trusts, the power of attorney designations should receive equal attention. As part of your estate plan, you need to establish a financial power of attorney...
