As we approach the New Year, many folks include among their resolutions creating or updating their estate plans. What is often not appreciated are the number of issues that should be considered and addressed in one's estate plan. It’s important to take time to handle these issues so that you’re protected throughout your lifetime as well as after you die. Many people don’t take the time to fully think about their individual estate planning needs. Take a look at the information below to … [Read more...]
How is a Durable Power of Attorney Different from a Living Trust?
When it comes to estate planning, there are so many beneficial options, depending on what you need to accomplish. A durable power of attorney is a common tool. So is a living trust. So, what is the difference and how do you know which one you need for your estate planning. What is the definition of a Durable Power of Attorney? A power of attorney is a flexible estate planning tool that allows you to choose someone who will handle all or part of your personal affairs, including making health … [Read more...]
Using Powers of Attorney in California: Questions and Answers
Using Powers of Attorney in California: Questions and Answers from Timothy Murphy Powers of attorney give someone else the ability to represent your interests or make decisions on your behalf. Learn more about powers of attorney in California in this presentation. … [Read more...]
What Is a Northern California Durable Power of Attorney
What Is a Northern California Durable Power of Attorney from Timothy Murphy When a general power of attorney has been granted, the agent has sweeping power The agent could act on behalf of the grantor in a comprehensive manner. Durable powers of attorney are used for incapacity planning purposes. Learn more about Northern California durable power of Attorney in this presentation. … [Read more...]
Your Northern California Will: What You Need to Know and What They Do
Your Northern California Will: What You Need to Know and What They Do from Timothy Murphy Everyone who makes a will gets to decide how they want to leave their property after they die In general, you cannot “disinherit” a spouse, but you are under no other legal obligation to leave property to anyone else, including your children. Learn more about Your Northern California Will in this presentation. … [Read more...]
Free Report: Northern California Powers of Attorney and Your Estate Plan
To create a power of attorney you have to be a capable adult of sound mind. You are never under any legal obligation to create a principal—agent relationship, nor do you have to accept the offer to serve as someone’s agent. Topics covered in this report include: Principals and Agents Attorneys in Powers of Attorney Types of Powers Using Powers of Attorney Correctly Click here to read the whole article or download the PDF. … [Read more...]
Marriage in the Golden Years
As we live longer, a marriage later in life is becoming more common with our aging society. That means changes to your estate plan are more crucial than ever. It also means the likelihood of new family members, from adult children to grandchildren and sometimes even great grandchildren. Social Security Benefits There are a number of dynamics that potentially play out when it comes to your social security benefits. Even if you’ve carefully prepared, you now have to consider more than just … [Read more...]
Basic Estate Planning Questions – What is a Power of Attorney?
In today's discussion of basic estate planning questions, we are going to take a look at questions about power of attorney. Understanding what a power of attorney is, what it is used for, then why it is so important when it comes to estate planning is important for everyone. Regardless of your age, circumstances, or individual estate planning desires, your estate plan will almost certainly include one or more of these vital tools. So, here are some common questions about powers of attorney that … [Read more...]
Your Estate Plan Will Include These 4 Important Tools
Regardless of where you are in life or what you want to accomplish with your estate plan, everyone who creates a plan in California will likely rely on at least four important tools. These tools will protect most of your important interests, and allow you to achieve most of your estate planning goals. Even if you and your attorney decide that you need additional tools to help you, understanding what these four important tools do and how they work can give you a much better understanding of why … [Read more...]
Commonly Asked Questions About Your Rights in a Power of Attorney
You might know that a power of attorney will play a key role in any estate plan you choose to create. What you might not realize, however, is that by creating a power of attorney, you give decision-making authority to other people. Those people will have the legal right to make decisions for you. People who first learned of this delegation of authority sometimes hesitate in making powers of attorney because they are uncomfortable with the idea of giving away their decision-making rights. … [Read more...]
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