Tag: estate planning

What is a Durable Power of Attorney?

What is a Durable Power of Attorney?

 

Durable Power of Attorney, also called a Financial Power of Attorney, is a legal document that allows you to designate another to make all your financial and business decisions. An “agent” is the person you designate to act as your power of attorney, also called “attorney-in-fact.”

You can use a Durable Power of Attorney if you are hospitalized, in a coma, or even just out of the country. A Durable Power of Attorney is not contingent on you being unable to handle the transactions yourself. If you have one or more businesses or private bank accounts, you may want someone to stand in for you to manage your affairs if you can’t.

Other FAQ about durable attorneys

Who should I choose as my agent?

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10 Estate Planning Myths

10 Estate Planning Myths

Which estate planning myths are holding you back? Don’t have a will yet? You are not alone. According to a 2015 Harris poll on behalf of Rocket Lawyer: 64% of Americans don’t have a will. Why? Procrastination maybe. Or the fact that there are a lot of myths surrounding estate plannings. Here are the 10 most common estate planning myths debunked.

Myth #1: It is too late to start. 

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