A serious illness can happen at any age, but just 18% of those 55 and older have a living will, power of attorney for health care and a last will and testament, according to a 2019 study by Merrill Lynch Wealth Management. AZ Central’s recent article entitled “What to know about wills and health care…
As a business person you may have seen the term "durable power of attorney" in several situations. Power of attorney is a strange term because it's not immediately clear what powers an attorney for the business may have.
When do you need your estate plan to “go to work” for you? While you may think the right answer is “after I die,” the actual answer is “if I lose the ability to manage my own affairs.
When do you need your estate plan to ‘go to work’ for you? While you may think the right answer is ‘after I die,’ the actual answer is ‘if I lose the ability to manage my own affairs.’
Cindy, a widow in her early 60s, was undergoing physical therapy for an injury to her foot, making it difficult for her to get around. In addition, she was suffering depression brought on by the immobility and pain, resulting in her neglecting to pay bills and taking care of other financial affairs.
One essential component of your financial plan involves designating power of attorney to someone you trust, in case you are incapacitated or unable to complete a task on your own.
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.
