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A power of attorney is a legal document signed by a person (known as the principal) to give another person (known as the agent) the legal authority to act on their behalf. This ability allows the agent to handle matters related to the principal’s health care or finances. The principal may want to create a medical or financial power of attorney for reasons such as:
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No matter what stage of your life you are in, it is important to establish an estate plan. Whether you are 18 or 88 years old, planning for the future can make life for yourself, as well as your family and friends, a lot easier should unexpected events arise.
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By Attorney Jaclyn Kallie and Attorney Erin Strohbehn
The death of a family member can be a difficult, highly emotional time. An estate that is contested can make this an even more stressful situation—and one that requires a good probate litigation lawyer.
...All parents hope that their children will be safe and happy throughout their lifetime. This concern can be a serious stressor for parents of special needs children. While some individuals with special needs can live a fully functioning life, many struggle to do everyday things without the help of another adult. Parents may fear that their child will not have a form of income to sustain themselves, and they may want to take steps to ensure that their child is provided for.
One of the best ways to create peace of mind is by forming a special needs trust. This type of trust holds and protects financial assets for the benefit of a disabled beneficiary. Many of these trusts receive assets from a legal settlement that involves the special needs child, while others are created through an estate plan. This allows parents to provide the child with assets that can be used during or after the parents’ lifetime, as well as life insurance proceeds after their death.
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Estate planning is critical for everyone. Without a will in place, you will have no say about where your assets will go when you die. Two other areas of estate planning law that are often forgotten about but can be just as important are guardianship and power of attorney.
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