What you need to Know about Living Wills and Medical Power of Attorney
What happens if you are sick or injured and unable to communicate your medical wishes to your doctor? That is where a living will comes in. Known also as advance medical directives, these documents allow for your wishes to be met even if you are unable to communicate them. When [...]
Five Things to Consider When Estate Planning
Estate planning can have a lot of moving parts to it. You want to get a head by considering all of your options and making sure that the legal details are handled. Here are some things to consider when you are planning your estate. Have a Will A will is [...]
Form the Foundation of your Estate Plan
Assets and asset distribution are the foundation of any estate plan. You want to make sure that your financial goals after death are met. You also want to ensure that your heirs are taken care of according to your wishes. Deciding what will be done with your assets by creating [...]
Multiple, Alternate and Specific Power of Attorney
Typically when speaking about power of attorney, people refer to what is known as general power of attorney. General power of attorney allows a person to act on our behalf in an unlimited scope until that power is revoked. That is not the only type that can be granted. Specific [...]
New Rules Allows Spouses of Reverse Mortgage Holders Keep Their Homes
Senior homeowners who need cash can use their home equity to take out a reverse mortgage. Reverse mortgages can create problems for borrowers' spouses, especially those younger than 62. When the borrower sells the home or dies, the surviving spouse is then responsible for paying the loan in full or [...]
How Divorce and Remarriage Affects Social Security Benefits
If you are divorced, you may collect Social Security benefits on your ex-spouse's record provided you meet certain qualifications. You are at least 62 You are unmarried You were married to your ex-spouse for at least 10 years Your ex-spouse qualifies for Social Security retirement or disability benefits. You do [...]
Contesting a Will
If you are unhappy with what was bequeathed to you in your loved one's will, you can contest it. Contesting a will, however, is not a simple matter of vehemently disagreeing with your deceased loved one's wishes. You must have a vested interest, meaning you will inherit whether or not [...]
About No-Contest Clauses
To avoid conflicts or bitter feelings that may arise when your will is read after your death, you could include a “no-contest” clause in your will. When a will contains a no-contest clause, any heirs who challenge the will and loses may get a lot less than what was left [...]