A financial power of attorney (POA) can be a useful estate planning tool for almost all adults. Yet, many who would benefit from this document avoid creating one.If you do not have a POA in place, you might consider asking yourself why you don’t. There are a...
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Estate Planning
Do you know who will make business decisions if you cannot?
As the owner of a small business, you are likely a crucial part of its day-to-day operations. What would happen if something unexpected happened to you and you were unable to perform your usual duties?Such disruptions would likely have a significant negative effect on...
Should you share estate planning details with family members?
An estate plan can be very personal. The details you share with family members are entirely up to you. However, providing clarity now might help prevent future problems.Still, talking about death and money can be uncomfortable for you and your loved ones. This is why...
When should someone update an estate plan?
When you finished creating your estate plan, you may have felt a well-earned sense of relief. Many people do not ever get around to making their estate plans, so if you have come this far, you may be in a better situation than many other people are. However, you are...
Why do many business owners not have a succession plan in place?
Running a business can be hectic, requiring you to constantly put out whatever fires pop up every day. The time-consuming nature of the job, however, is causing owners to overlook a key component of their long-term viability: succession planning.According to a CNBC...
Estate planning considerations for small business owners
Small business owners’ work and personal lives are often closely intertwined. If you are the owner of a business, you know that the work never stops, and you are never off the clock.After spending so much of your life pouring your heart and soul into your...
A short FAQ on special needs planning
Most people don’t want to think about estate planning. Inevitably, the process forces people to think about what will happen after they’re gone. But estate plans give power to those who use them. They allow you to care for your family members and make...
Succession planning can be broken into manageable steps
Do you know what will happen to your business if you pass away unexpectedly? Do you have a plan for your business after your retirement? If you cannot answer these questions, you probably do not have a succession plan in place.Without a succession plan, it may be...
How to choose the right executor for your estate
The expected duties and responsibilities of an executor could overwhelm a seemingly sensible and responsible person. So how do you choose the right person for the job? How do you appoint an executor?Firstly, it is important to remember being an executor is a kind of...
Estate plans need to protect digital assets too
Estate planning sounds like a simple, basic concept. Protect your assets and lay out a plan for distribution after death. In practice, it gets a lot more detailed. Many people create a will or other estate plan early in life - and you should. But life changes, and the...