One of the smartest documents that an individual can create to protect themselves and their assets in the event of sudden incapacity is a durable power of attorney. A durable power of attorney is a document that grants a specified individual the power to make medical decisions on your behalf should you ever be in
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Oftentimes, when an individual is unable to manage their finances on their own, they will create a power of attorney and hire a financial agent to take on the responsibility for them. A financial agent has complete access to an individual’s finances and has the power to do most everything financially related on the individual’s behalf,
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What is an estate tax? An estate tax is “a tax on the right to transfer property at the time of death.” An estate tax does not apply to everyone’s estate; whether it applies to you depends on the total value of your estate. How rich do I have to be for the estate tax
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Older Americans may decide to adopt a pet to keep them company after their children have grown up or their spouses have died. Pets are particularly well suited for the elderly, as their presence can help lower blood pressure, reduce stress, increase physical activity, and reduce depression and loneliness. However, in such a situation, it is
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Many famous people have specified their wishes for their funerals in their wills. Star Trek creator Gene Roddenberry requested that his ashes be sent to a satellite orbiting Earth. His remains were sent into space on a memorial flight in 1997. In contrast, famed author Charles Dickens asked that “no public announcement be made of
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According to the Pew Internet Research Center, 62 percent of American adults use Facebook (and as this statistic was current as of September 2014, that number may be even higher now). These are not just young adults, but older ones. Sixty-four percent of those ages 50 to 64 and 48 percent of those 65 and
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So you have a will and a trust set up. Good! When was the last time you updated them? If your answer is “When my now-adult children entered kindergarten” or “When Reagan was in office,” it’s probably time to revisit your estate plan and make sure it still fits your life today. These documents are
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The recent death of famed recording artist Prince has rocked the nation. Surprisingly, given Prince’s battles for control of his intellectual property and his access to many lawyers, it appears that the singer had no will set up to distribute his huge estate, valued between $300 – $500 million, to his heirs. This oversight leaves
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