When you make a power of attorney you will select an agent, also called an attorney-in-fact who will represent your interests or make decisions on your behalf. Through the power of attorney document you create you will grant your attorney significant legal authority to make decisions for you. Because of this, you must approach the question of agent selection very carefully. Though you may have an idea of who you would like to serve as your attorney-in-fact, it’s always a good idea to … [Read more...] about Take Time When Choosing an Agent
When people in Minnesota create an estate plan, those plans will rely on several different tools, such as a last will and testament. It’s important for you to understand what each of these tools does if you want to get the most out of your plan. A will, for example, covers a limited number of issues. The issues covered under your will are all very important, even though you will need additional estate planning tools to accomplish all of your goals. Here is what a will covers, and what it … [Read more...] about When I Write a Will, What Does it Cover?
Sometimes people come to an estate planning lawyer with questions about powers of attorney and wills that reveal a misunderstanding of how these important documents function. For example, some people ask why they need both. After all, since a power of attorney will allow you to name a representative, why do you need a will to name someone who will act as your executor? While these types of questions are understandable when asked by people who don’t have a background in the law, you need to … [Read more...] about You Need Both a Will and Power of Attorney
A power of attorney, or POA, is an essential estate planning document. Almost every estate plan in North Dakota includes at least one, and usually more, powers of attorney. Through your POA you can delegate some of your decision-making rights to another person or organization. Usually, people choose to make at least one POA that gives financial decision-making authority, while another that gives medical decision-making authority. Yet a lot of people are uncomfortable with the idea of giving … [Read more...] about Don’t Worry About Losing Your Rights Under a POA
As families around the country gather for the holidays, adult children with elderly parents should make it a point to keep an eye out for any potential warning signs that could show that your parents need more help. All of us lose abilities as we age, and when elderly parents begin showing signs that their age is affecting them, adult children need to be prepared to step in and offer the needed help. If you are visiting with your parents this holiday season, here are several things you will want … [Read more...] about Keep an Eye Out for Your Aging Parents This Holiday Season