The conservator is court appointed and may be responsible for financial decisions, such as retirement planning, the purchase or sale of property and the movement of any other financial assets.
Many people have signed at least one power of attorney in their life. A power of attorney, which names a trusted family member, friend or advisor as your “attorney-in-fact” to control your assets, is meant to be used, if you are incapacitated.
As you know, a power of attorney (POA) allows another person, the Attorney-in-Fact (AIF), to conduct business on behalf of the principal. The POA authorizes the AIF to sign for and on behalf of the principal.
Women face unique challenges as they age. According to the Population Reference Bureau, a Washington-based think tank, women live about seven years more than men. Living longer means planning for a longer retirement.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
With a Power of Attorney, you designate which individuals are in control of your assets and who can take care of your affairs, if you are unable to do so.
An estate plan tells your heirs and the courts how to divide up your assets, but it also helps protect your loved ones from unnecessary hassle and expense–as well as potentially months, even years, tied up in the court system settling your estate.
If a person close to you has been diagnosed with Alzheimer’s disease, it may be time to address some serious financial questions.
Ensuring that your wishes on your medical care are followed is up to you. Take action now while you’re well, or you could lose a say in the matter during a crucial time later.
You can reduce stress and expenses for yourself and your family, if you develop an estate plan that includes these important documents.
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