- How to Create a Financial Power of Attorney in New Mexico
A financial power of attorney (POA) can allow you to authorize another person to manage your financial affairs when you are away or incapacitated. Here are the requirements for creating a financial power of attorney in New Mexico. For help with your own financial or estate planning, consider talking to a financial advisor. What Is… read more…
- How a Financial Power of Attorney Works in Kentucky
A financial power of attorney (POA) is a legal document that allows an individual to designate another person to manage their financial affairs. This can include handling bank accounts, paying bills and even making investment decisions. Let’s take a look at the requirements for a POA in Kentucky. For help with your own financial planning,… read more…
- Guide to Understanding When Probate Isn’t Necessary
Probate is a legal process used for the administration and distribution of a deceased’s estate. It involves validating the will, inventorying assets, paying debts and distributing those assets. As a result, it can be a lengthy and expensive process. However, there are times when probate isn’t necessary, such as when the deceased has a living… read more…
- Breaking Down Estate Planning in Colorado
Estate planning in Colorado involves understanding the specific state laws that affect wills, trusts and property transfers. Colorado residents should be aware that the state follows the Uniform Probate Code, which can simplify the probate process. Additionally, the Colorado estate tax laws and regulations about living wills and healthcare directives might differ from other states,… read more…
- Elder Law vs. Estate Planning: What’s the Difference?
While elder law and estate planning are two areas of law that often intersect, they serve distinct purposes. Elder law focuses on issues affecting people in their old age, such as long-term care and guardianship, whereas estate planning deals with the distribution of an individual’s assets after their death. A financial advisor can help you… read more…
- Estate Planning Services: What’s Available?
Estate planning services encompass a wide range of professional assistance designed to help individuals manage and protect their assets for the future. These services include creating wills, establishing trusts and planning for estate taxes so that assets can get distributed to heirs. By working with experienced financial advisors and attorneys, you can ensure that your… read more…
- Types of Powers of Attorney in Arizona
The most common type of power of attorney (POA) in Arizona is the General power of attorney, which grants broad powers to handle financial and legal matters. But the Grand Canyon State also has other types available, focusing on different purposes like making healthcare-related decisions. Each POA must be notarized and, in some cases, witnessed… read more…
- How a Durable Power of Attorney Form Works in Iowa
The durable power of attorney can help Iowans protect their interests and maintain control over their affairs. From selecting a trustworthy agent to navigating the state’s specific requirements, it’s important to understand how to utilize a durable power of attorney and how to navigate the correct form if you live in the state. Here’s a… read more…
- Fiduciary Duties of Trustees
Someone named as the trustee of a trust has a fiduciary duty to the trust’s beneficiaries. At its most basic, this means the trustee must place the needs of the beneficiaries of the trust ahead of their own needs. While following this rule, the trustee must ensure that all the administrative functions involved in overseeing… read more…
- Types of Powers of Attorney Available in Tennessee
A power of attorney (POA) is part of a well-established estate plan and is a legal document allowing one person, known as the agent or attorney-in-fact, to act on behalf of another, the principal. This arrangement is crucial for managing financial, legal and health-related matters when the principal is unable to do so. In Tennessee,… read more…
- How Much Probate Costs in Illinois
Estimating probate costs in Illinois involves court fees, attorney fees and executor expenses. The amount you pay will depend on the non-fixed costs, like attorney fees. Those costs can vary greatly by the attorney you work with and how long your probate process lasts. Avoiding probate can save time, money and privacy. The process can… read more…
- How Much Probate Costs in Minnesota
Probate costs in Minnesota can vary significantly based on the complexity of the estate and the specifics of the case. Generally, probate expenses include court fees, attorney fees and personal representative fees. In Minnesota, court filing fees are relatively low, but attorney fees can be substantial, often calculated as a percentage of the estate’s value… read more…
- How Much Probate Costs in Washington
Probate costs in Washington can vary significantly based on the complexity of the estate and the county where the process occurs. In general, expect to pay court fees ranging from $200 to $400. Attorney fees can also add up quickly, often constituting the largest expense. Additionally, executor fees, appraisal costs and other administrative expenses can… read more…
- How a Financial Power of Attorney Works in Massachusetts
A financial power of attorney (FPOA) can empower you to designate someone else to handle your financial matters. This arrangement could ensure that financial obligations are met and goals pursued, even when the principal is unable to manage their affairs due to illness or disability. Understanding how an FPOA works is essential for effective financial… read more…
- How a Financial Power of Attorney Works in Washington
A financial power of attorney is a legal document that allows you to appoint a trusted individual to manage your financial affairs on your behalf. This can be especially important in situations where you are unable to make decisions for yourself due to illness, injury or other circumstances. By granting someone financial power of attorney,… read more…
- Types of Powers of Attorney in Louisiana
A power of attorney (POA) is a legal document that authorizes one person, known as the agent or attorney-in-fact, to make decisions on behalf of another, the principal. The scope of this authority can vary, covering everything from financial management to medical decisions, depending on the type of POA established. Each type of POA serves… read more…
- Types of Powers of Attorney in Arkansas
In Arkansas, there are many powers of attorney, each designed for specific purposes, such as managing financial matters, making healthcare decisions or handling real estate transactions. By understanding the different types and legal requirements for creating a valid document, individuals can ensure that their wishes are carried out and their interests are protected, even in… read more…
- Estate Planning Tips for Unmarried Couples
Without the automatic legal protections afforded by marriage, unmarried partners must be proactive in managing their assets to ensure that their wishes are honored and their financial futures secured. From establishing wills and trusts to understanding state-specific estate laws it’s important to consider essential strategies that unmarried couples can employ to safeguard their assets and… read more…
- Types of Power of Attorney in Alabama
In Alabama, the specifics of establishing and executing a POA are governed by state laws, which underscore the importance of adhering to legal stipulations to ensure the document’s validity and effectiveness. Understanding the different types of POAs — such as durable, non-durable, medical and springing — and their respective applications can significantly influence decision-making processes… read more…
- Types of Power of Attorney in Kentucky
A power of attorney (POA) is a legal document that grants a designated person the authority to act on behalf of another person in specified legal and financial matters. The purpose of a POA is to allow the agent to make decisions and take actions on the principal’s behalf if the principal becomes incapacitated or… read more…
- How to Avoid Probate in Oregon
Probate is a legal process that administers the estate of a deceased person. It can be complex, time-consuming and costly for many families in Oregon. On average, probate can take between six and 12 months to complete, and can cost anywhere from 2% to 7% of the estate’s total value. Here’s an overview of how… read more…
- How to Avoid the Estate Tax in Minnesota
The estate tax, sometimes referred to as the “death tax,” is levied on the total value of a deceased person’s assets before they are distributed to heirs. In Minnesota, it applies to estates valued over $3 million, with rates ranging from 13% to 16%. This contrasts sharply with the federal exemption threshold of $13.61 million,… read more…
- How a Power of Attorney Works in Colorado
Power of attorney is a legal tool that allows individuals to appoint trusted agents to manage their affairs, make decisions, and sign documents on their behalf. In Colorado, there are several types of powers of attorney available, each designed to serve specific purposes and handle different situations, such as managing financial matters, healthcare decisions, or… read more…
- Can a Power of Attorney Sell Property Before Death?
A power of attorney (POA) is a legal tool that allows an agent to make decisions on behalf of the principal. POA is used in situations where the principal is unable to manage their affairs due to illness, incapacity, absence, or other similar scenarios. In the principal’s stead, the agent is given authority to manage… read more…
- Can a Power of Attorney Close a Bank Account?
Power of attorney (POA) is a legal tool that allows an individual, the principal, to appoint someone they trust to manage their affairs when they are unable to do so themselves. The person appointed is known as the agent. It’s often used in instances where the principal is facing illness or injury, and wants the… read more…