If you are single, only your Conservator would have that authority. … [Read more...] about How will my income tax return get filed?
What happens if my son needs his tuition paid while I’m disabled?
Again, if you haven’t planned, nobody can act for you until the court appoints a Guardian and/or Conservator for you. If bills, such as your son’s tuition, need to be paid in the interim, a friend or family member would have to use their savings or borrow to pay the bill. … [Read more...] about What happens if my son needs his tuition paid while I’m disabled?
What happens if my investments need to be changed quickly due to market conditions or to reflect new circumstances and risk tolerance?
A court would have to appoint a Conservator. Nobody but the Conservator would be able to act for you. … [Read more...] about What happens if my investments need to be changed quickly due to market conditions or to reflect new circumstances and risk tolerance?
How will my bills get paid?
Your family or friends must go to your local court and have someone appointed your Conservator. Again, this judge probably does not know you and may not appoint the same person you would choose. In the appointment process, people must testify in open court that you do not have the ability to care for yourself. It can be draining financially and emotionally. Your Conservator would have to report to the court for as long as you are disabled. … [Read more...] about How will my bills get paid?
If I have no chance of recovery, will I be kept on life support?
Unless you have planned properly, you probably will be kept on life support. In most states, you will be kept on life support unless there is clear evidence you expressed wishes to the contrary; usually this requires something in writing. … [Read more...] about If I have no chance of recovery, will I be kept on life support?
Who will decide medical treatment issues?
Depending on the state, if your family members agree, they can make that decision. However, if family members disagree, you could be back with the local judge getting a Guardian appointed. … [Read more...] about Who will decide medical treatment issues?
Who will decide where I live?
A local judge would have to appoint a Guardian who would make that decision. Of course, the judge may not choose the same person you would have chosen. … [Read more...] about Who will decide where I live?
Is a Living Trust a good idea for a LGBTQ+ person?
Yes. If you’re part of the Lesbian, Gay, Bisexual, and Transgender community, a Living Trust offers protection for your estate, as well. It will completely eliminate a living probate, a death probate, and you can minimize or eliminate estate taxes. Further, it allows you to override the laws that may fail to recognize the importance of your relationship. … [Read more...] about Is a Living Trust a good idea for a LGBTQ+ person?
Do unmarried couples have to plan more than married couples do?
Yes. The default in state law, called “intestacy,” is designed with married couples in mind. If a married couple dies without any estate plan, the survivor will get a good portion of the assets left behind. However, if you are unmarried, unless you are in a state that legally recognizes domestic partnerships or civil unions and you have registered as such, the survivor would get nothing. Instead, the family of origin of the unmarried partner who died would get anything in that partner’s name, … [Read more...] about Do unmarried couples have to plan more than married couples do?
Are my estate planning documents a matter of public record?
Only your Will is a matter of public record. Your Revocable Living Trust and your Powers of Attorney are not public. Therefore, by using a Revocable Living Trust you can maintain the privacy of your wishes. Prying eyes of co-workers and neighbors will not have access to the details of your estate plan. … [Read more...] about Are my estate planning documents a matter of public record?
