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January 2018 Archives

Preparing for your role as estate executor

When the phone call comes of the passing of your loved one, you may not have much time to grieve before having to get right to work fulfilling your duties as an estate executor. You may be one of the many for whom handling the final requests of a loved one is a unique and intimidating experience. In fact, you may have the overwhelming feeling of being completely out of your comfort zone.

Guardianship and dementia

As soon as you notice the first indications of dementia in a loved one, it is wise to make sure that you make all the necessary arrangements to ensure that his or her end-of-life wishes are understood. It is also crucial to consider whether or not this person needs a legal guardian to act on his or her behalf and defend his or her best interests.

Using a durable financial power of attorney

When considering how to protect your estate and establish your end-of-life wishes, it is very likely that you will assign a durable financial power of attorney to a representative. Such an appointment authorizes a person you choose to access your finances and take whatever actions are necessary to achieve your financial goals and keep up with your financial obligations.

Should I consider a joint will?

Joint wills are still possible to create, but they are mostly an artifact of an earlier era of estate planning, before more effective asset protection tools rose to prominence. For most couples or individuals considering a joint will, it is wiser to consider other options that grant similar benefits with fewer archaic restrictions.

How do no-contest clauses protect a will?

There are many ways to write protections of your rights and preferences into your will, depending on your needs and the difficulties you anticipate those who survive you may face. In some cases, it is likely that one or more parties may challenge a will and greatly complicate the execution of your wishes. In these instances and others, it is wise to consider using "no-contest" clauses in your will as an extra form of protection for your wishes.