An Advance Directive/Living Will is that type of document. It provides authorization for the termination of life support. It is a document that only you can sign – you cannot delegate the power to make that decision.
If you’ve heard of trust funds but don’t know what they are or how they work, you’re not alone. Many people know just one key fact about trust funds: they’re set up by the ultra-wealthy as a way to protect passing on significant sums of money to family, friends or entities (charities, for example) after they pass away.
Imagine you get married and within a year or two, your new spouse passes away. Now, imagine that your grief is compounded with financial stress.
Besides seeking to draft or alter wills and trusts, many clients were changing trustees, executors and the agents they assigned to oversee their finances and health care, if they were unable to make decisions themselves.
Lifetime income annuities, like Single Premium Immediate Annuities (SPIAs) and Deferred Income Annuities (DIAs), are irrevocable contracts with no liquidity. You will get all of your money back if structured properly at the time of application, but it will be in payment form.