Being a “Fiduciary”
You may be asked to be power of attorney for a family member or friend. Your person may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated,…
Things You Should Know About Guardianship for Adult Children
There are two parts to a guardianship in New York. Someone can be a guardian of a person, or a guardian of property. Usually, the Court appoints both guardians, and quite often it is one and the same person. Adult…
Who Should Make Financial Decisions for You?
Who should you trust to manage your financial well being when you are no longer able to do so? A power of attorney (POA), otherwise known as an agent to your principal, or “attorney-in-fact,” has the legal authority to represent…
What You Need to Know About Senior Estate Planning
When it comes to estate planning, older Americans are typically more prepared than their younger counterparts. However, according to survey data, only 19 percent of people over the age 72 and 42 percent of those between 53 and 71, have…
Common Misconceptions About Power of Attorney
Having a reliable power of attorney is one of the most crucial estate planning documents you can have. This type of legal document allows someone who you appoint (your agent) to make decisions on your behalf in the event you…
What is a Guardianship and How Do You Avoid It?
Whenever someone, a principal, loses their own mental capacity to be able to act in their own best interests, and agent may be able to step in to continue taking care of the principal as the principal would if they…
Americans Focus on Wills and Estate Planning During the Pandemic
There has been an explosion in the numbers of Americans rushing to make their will online. Understandably, the coronavirus pandemic has created the scramble to set up wills and end-of-life directives. However, online do it yourself (DIY) wills are often…