
Will My Power of Attorney Be Good Enough?
Not every power of attorney will be sufficient to manage your affairs, if you become incapacitated.
Not every power of attorney will be sufficient to manage your affairs, if you become incapacitated.
Due to the debilitating nature of Alzheimer’s and related forms of dementia on your loved one’s ability to make sound financial decisions, the sooner you can get financial matters in order the better.
The person signing the power of attorney, which gives someone else the authority to act for them, is called the ‘principal’ and the person who is given the power to act for you is called your ‘agent.’
Leaving behind a home for a loved one to inherit is a huge gift, but without the right planning, it could be an equally large headache.
Putting your last wishes on paper is critical to ensuring your family is taken care of when you die.
If you have a child or other family member who has special needs due to physical or mental conditions, you face a variety of challenges planning for their care, including financial ones.
Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about those beneficiary designations again. However, that could be a big mistake.
Many baby boomers may hesitate to discuss money with their children. However, the reality is that a massive amount of wealth will be transferred in the next couple of decades. Cerulli Associates estimates that about $68 trillion will move between generations within 25 years, with most of those assets transferred to Generation X households.
Caring.com, a leading senior living referral service and the nation’s top site for senior care reviews, has published a comprehensive report from its annual Wills and Estate Planning Study.
Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by the financial services company HSBC.
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