A power of attorney can be specially crafted to align with your individual needs and expectations. It is very important to familiarize yourself with some of the different aspects of different power of attorney forms to ensure that you have selected the right type of power of attorney based on your individual circumstances and the person you intend to appoint. A power of attorney allows you to name an individual Read More
Adding and Removing a Power of Attorney
You can find many different power of attorney forms online. However, this is gamble because what seems like minor mistakes in these templates or forms could prove very problematic in the very circumstances you need someone to use a power of attorney. It is very helpful to instead talk with an estate planning lawyer about your specific needs so that they can recommend the documents and language that would work the Read More
What You Should Know About Testamentary Trusts
There are many different components to a comprehensive estate plan and one of these could be a testamentary trust. This legal document is usually drafted inside of your will and becomes effective at the time of your death as part of your estate planning strategy in NH. Benefactors are able to exert some control over the distribution of how their assets are passed on to loved ones by using a testamentary trust. This Read More
Recognizing the Challenges of Undue Influence for Elders
Undue influence refers to taking unfair advantage over another person's weakness of body or mind and using it to produce an unfair advantage over someone. This comes up most frequently in the context of estate planning in which you might argue that a loved one has been unduly influenced by an outside party. Imagine that one of your loved ones is handicapped, requires in-home care, is elderly or is experiencing Read More
What Is a Trustee Fee?
A trustee is a person who serves in an important role in managing the assets and administration of a trust. This person is also entitled to receive compensation based on their efforts managing the assets and the responsibilities associated with the trust. Trustee fees are payments for services rendered whether the trustee is an organization or an individual. Various duties are associated with the responsibility of a Read More
Why You Can’t View Medicare As a Comprehensive Plan for Long Term Care
Medicare is often an important component of your overall health expenses and plan for your retirement years. However, it is a misconception to assume that it will help you when it comes to your long-term care expenses. Given that long term care expenses, especially those associated with nursing home stays can be very expensive and can dip into your savings significantly, it is important to sit down with an elder Read More
Yes, You Still Need a Financial Plan Even After a Pandemic
There is no doubt that the year 2020 has been unpredictable across the board, including financially. This makes many people hesitant to update their plans or to establish a new planning strategy altogether. However, a financial plan and an estate plan are some of the most important things you can work on even if you only develop a framework that needs to be amended later. Despite all of the uncertainty around you, Read More
What Powers Can I Authorize Under a Durable Power of Attorney?
A durable and general power of attorney is an important document that should be at the cornerstone of your estate planning. A power of attorney is most effective in the event of incapacity, such as an illness or event that renders you unable to make decisions or take certain actions on your own. You can decide what works best for your situation and then discussing setting your POA up that way with your lawyer. A Read More
What Does a Convenience Account Have to Do with a Power of Attorney?
If you are concerned about being able to keep up with your banking and your bill paying, using a durable power of attorney is an excellent way to appoint another person to make these decisions and take these actions on your behalf. In the process of setting up your planning, you might run across the term convenience account. If you are older and concerned about keeping up with your financial affairs, it is natural Read More
Should My Financial Power of Attorney Agent Get Extra Authority?
Using a simple power of attorney form makes it seem as though it will be a seamless process to transfer financial authority to this person. However, you might not realize in filling out a simple online form or downloadable PDF that there are significant powers a DIY template like this does not include. It's important to educate yourself about these possibilities so that you can determine whether there are Read More
