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
Use Powers of Attorney in Minnesota With Care
A good power of attorney allow you to protect your interests when you aren’t able to protect them yourself. Powers of attorney in Minnesota give you the ability to appoint others to help you manage your affairs. Whether you need people to step in because you’ve been sidelined by an illness or injury, or simply want to grant others the ability to represent your interests, you can accomplish these goals by creating the appropriate power of attorney. The broad abilities granted by a power of … [Read more...] about Use Powers of Attorney in Minnesota With Care
Attorneys-in-Fact: Choosing Between Single, Multiple, and Co-Agents
People in Grand Forks, North Dakota who create estate plans typically include one or more powers of attorney. A power of attorney is a legal document through which you can delegate some, or all, of your legal decision-making abilities. When you create a power of attorney you select another person or organization who receives the right to make decisions on your behalf. These people are alternately called agents or attorneys-in-fact. While creating powers of attorney and selecting the types of … [Read more...] about Attorneys-in-Fact: Choosing Between Single, Multiple, and Co-Agents
Ohio Veteran Eviction Saga Not Over
Several weeks ago we wrote about 92-year-old John Potter, an Ohio man and World War II veteran who was facing eviction from the home he had built and lived in for over 50 years. The person evicting him from the home is Potter’s own daughter, Janice Cottrill, in whose name the property is titled. When we last told you about the story, Potter had begun an Internet fund raising campaign to raise money to buy the home back. Though the home was valued at a modest $50,000, Potter was able, with the … [Read more...] about Ohio Veteran Eviction Saga Not Over
Veteran’s Struggle Highlights Need for Careful Use of Power of Attorney
A 92-year-old Ohio veteran gave his eldest daughter general power of attorney in 2004, but unbeknownst to him, the daughter used her position to transfer the deed to his home into her name shortly thereafter. In 2010, John Potter learned that his daughter had transferred the deed to herself and fired her, replacing her with his granddaughter. But the damage had been done, and earlier this year Mr. Potter’s daughter moved to have him evicted from the home. When you create a power of attorney, … [Read more...] about Veteran’s Struggle Highlights Need for Careful Use of Power of Attorney
When Powers of Attorney Cease
Powers of attorney play a key role in many estate plans. Though these documents are very flexible and are able to give you peace of mind in knowing that your important affairs will be managed by someone you select, you also need to know how to end the powers. Here is what you need to know about stopping a power of attorney. Voluntary Termination As a principal (a person who makes a power of attorney), you maintain the ability to terminate the agent’s authority at any time and for any … [Read more...] about When Powers of Attorney Cease
Why All Adults in Minnesota Need an Estate Plan
Every estate planning lawyer in Minnesota will tell you that all adults need an estate plan. While a lot of people believe that estate plans are only necessary for people with a lot of wealth, the reality is that everyone has choices that they can only make by creating an appropriate plan. While every adult should have an estate plan, you’ll definitely need to begin your planning efforts as soon as possible if you are a part of any of the following groups. Parents with Young … [Read more...] about Why All Adults in Minnesota Need an Estate Plan
Many Different Paths to Elder Law
People tend to ignore or downplay the effects of aging, especially when it isn't a present concern. But if you have recently reached retirement age or have an elderly family member, you will want to consider speaking to an elder law attorney in your area even if you don’t require his or her assistance at the moment. Many people who need an elder law lawyer ask for advice only after it is too late, and some common situations that many people have to deal with can be greatly simplified if you take … [Read more...] about Many Different Paths to Elder Law
Carefully Consider Your Role as Agent Under Power of Attorney Before You Accept
When someone asks you to serve as an agent or attorney-in-fact under a power of attorney, that person trusts you enough to give you power over his or her affairs. As an agent you will be responsible for making certain types of decisions. Because you will be making these decisions on another person’s behalf, and perhaps when that person is incapacitated, you need to fully understand what your role as an agent will require of you. Here are several questions people often have about serving as an … [Read more...] about Carefully Consider Your Role as Agent Under Power of Attorney Before You Accept
I Just Moved…Do I Need To Change My Estate Plan?
If you've already created an estate plan and have moved, or are considering moving, you may want to take the time to review your plan if your move brings you to a new state. If you're simply moving to a new location in the same state, you probably don't need to make any changes. However, moving to a new state should prompt you to at least review your plan, and probably call an estate planning lawyer. Issue 1: Your Will. Each state will recognize the validity of the Will created in a … [Read more...] about I Just Moved…Do I Need To Change My Estate Plan?
