Arenson & Maas PLC. - Untitled 28

Kinds of Powers of Attorney for Finances

There are two kinds of durable powers of attorney for finances: those that take effect immediately and those that take effect only upon your incapacitation where one or two doctors declare that you can no longer manage your financial affairs. ...

Revocation of Healthcare Directives and Alternatives

Revocation

If you execute a healthcare power of attorney document and a living will, you can revoke or cancel them at any time. Most states do not require you to revoke the documents in writing. Be aware that if you...

Inheritance Without Planning Means No Person Is In Control

Inheritance Without Planning Means No Person Is In Control

When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of...

Trust Elements - Trust Property - II

Trust Elements - Trust Property - II

A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the...

Trust Apportionment

When a trustee receives a distribution, it can be difficult to determine whether he should pay it to the beneficiary or add it to the "corpus" (the trust property). Questions also can surface as to who is responsible for certain expenses that...