Planning for Your Children's Sake is Essential
It's Hard to Think About the Unthinkable
Every day, we as parents make decision after decision about our kids, for our kids, because of our kids. Yet so many parents fail to make one of the most important decisions they need to make - what will happen to their kids if something happens to them.
Why Are You Delaying Estate Planning?
For many couples with young children, the expense of actually sitting down with an attorney may be the leading factor in delaying planning their estate. When you're trying to pay a mortgage, an estate plan may seem like a luxury you can put off until a later time. But consider the possibility that something does happen to you and/or your spouse. What would happen to your children? If you don't decide who will take care of your children and put that decision into an estate plan, the court (strangers to your family) will make the decision for you.
And that may not be the best decision for your kids.
Some parents delay estate...
Powers of Attorney - The Facts
POWERS OF ATTORNEY
The Facts...
If you become sick or disabled, either temporarily or permanently, who will make decisions for you?
- A Power of Attorney allows you to appoint someone you trust to handle your affairs if you cannot do so.
- If you are unable to do it yourself, your family will be prevented from paying bills, getting records, helping you get treatment, pay doctors or qualify for Medicaid, or making other important decisions on your behalf, if you do not have comprehensive, well written, and specific Powers of Attorney in place.
- Without comprehensive, well written and specific Powers of Attorney, your family may have to file a court proceeding, seeking guardianship of you (for health care decisions) or seeking conservatorship (for financial decisions). This process involves the Court, several lawyers and usually at least $4,000 to $50,000. A Power of Attorney might cost $200 - $500.
- There are two main types of Powers of Attorney: financial and health...