Simply defined, a trust is an agreement between two people — a grantor who donates funds to the trust and a trustee who manages those funds according to the grantor’s wishes, which are laid out in a trust document. The funds in the trust are typically used...
Your most valuable property may be your home, which is true for many people. You likely want your children to inherit that value when you pass away. However, you may also have concerns about planning for the future, especially if your health declines and you need...
Question: My mom has a power of attorney with both my brother and me named as agents. The power of attorney document lists our wrong addresses — we have all moved since she first had it drafted. Is it still good? Answer: It depends on whether just you and your...
Worrying about your legacy is a personal choice, and individuals may have different reasons for considering the impact they leave on the world. From financial security of loved ones, preserving memories, passing down family traditions, community influence, and being...
Question: My sister is in a nursing home for the rest of her life, and I have POA. Her care is paid by Medicaid. We pay utilities and property taxes on her vacant trailer to maintain it. Medicaid wants us to use our sister’s small income to pay the nursing home...
If your child has special needs, a standard estate plan — will, trust, power of attorney, and health care proxy — may not be adequate for your family. If your child will not be able to support herself or live independently as an adult, you need to make...
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