Downs Law Firm, P.C.
At such an emotional time, more paperwork is probably the last thing you want on your to-do list. However, taking a few key steps is critical to your financial future.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
Some people think that, because their assets are jointly owned with a spouse or are in a trust, they do not need a Power of Attorney, or that if they become incapacitated, their spouse automatically has the authority to make medical decisions on their behalf.
We see recurring confusion about how and when to use the authority over money in a Durable Power of Attorney (DPOA) for aging parents.
One study found that your blood type could raise your risk of developing dementia.
The possibility that a power of attorney might be rejected may be one reason not to simply pull a form off the internet and hope it will be accepted.
The heirs to Henry Ford II – the eldest grandson of legendary Henry Ford – filed a legal challenge against their late patriarch’s attorney, Frank Chopin, who is now the champion of Ford’s widow, Kathleen DuRoss Ford, 80.
Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
The COVID-19 crisis isn’t just costing Americans their freedom and jobs; it’s also forcing millions to contemplate their own mortality.
Amid the climate of uncertainty surrounding the coronavirus pandemic that is sweeping the nation, people are grappling with the difficult subject of estate planning … and not taking any chances.
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