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I cannot tell you how many times I have heard people tell me that they already have a will, so they are all set. I understand why those who tell me this may think it is true, but I do not completely agree. A will is only effective once you pass away, and only gives someone power to handle your assets and transfer assets to your named … [Read more...]
Yes, You Need a Will, but is That the ONLY Thing You Need?
I take a lot of calls from people who want to tell me about their wills. They will talk about how their will does one thing or another, but often they are mixing and matching the will with other estate planning documents. I suspect many times people keep all their estate planning documents together in one folder, binder, or location, and that … [Read more...]
Financial Powers of Attorney (POA) and a Living Trust Compared Side by Side
Let’s get started by saying that I do know a financial power of attorney and a living trust are different documents that have different functions and different goals. A living trust is most often a document that describes what happens to your assets after your death, whereas a financial power of attorney (financial POA) allows someone to make … [Read more...]
Not All Estate Plans Are the Same – Make Sure You Have the Right Tool for the Job
I recently was having a conversation with my friend who told me about a time right after he moved to Colorado. It went something like this: “I was so blown away at the scene I witnessed while walking out of my church in Lafayette after a snowstorm. I had just moved to Colorado and was new to the area and checking out new churches. This church … [Read more...]
Four Fundamental Estate Planning Documents: Part 3 – Medical Power of Attorney
The Medical Power of Attorney When I talk with clients about estate planning, I often need to start with the basics, giving them a good solid foundation. I am not sure I have done that yet on my blogs, so I am excited to do a four part series where I talk about the basic, foundational documents of every estate plan. Hopefully this will set a … [Read more...]
Four Fundamental Estate Planning Documents: Part 2 – The Financial Power of Attorney
The Financial Power of Attorney When I talk with clients about estate planning, I often need to start with the basics, giving them a good solid foundation. I am not sure I have done that yet on my blogs, so I am excited to do a four part series where I talk about the basic, foundational documents of every estate plan. Hopefully this will set a … [Read more...]
Protect Your Family (and Yourself!): 7 Questions For Your Power of Attorney Agent
A durable financial power of attorney and a durable medical power of attorney are critical documents to have in place. I have specifically discussed how Powers of Attorney can help protect you on other blog posts here and as part of end of life planning here. These documents allow you to choose someone, or some other entity, to make financial … [Read more...]
Protect Your Family: Powers of Attorney for Adult Children
After what sometimes seems like endless years spent raising a child, their adulthood—and all the rights that go with it—may creep up suddenly. When you are about to send a child off to college or to a study abroad program, you're probably busy with travel arrangements, last-minute shopping, packing, worrying about how your baby will fare living … [Read more...]
Protect Your Family: 12 Ways Power Of Attorney Protects You
“The Twelve Days of Christmas” is a popular song during the holidays, and often misunderstood to be the 12 days leading up to Christmas. The 12 days of Christmas are actually the 12 days after Christmas, leading up to Epiphany - or the day that the manifestation of Christ’s glory was realized - according to Christian tradition. In the spirit of … [Read more...]
