Using a financial power of attorney, you essentially make someone else your financial agent. This gives them legal power to handle your money. They're obligated to work toward your best interests, but they do things that you can't realistically do for yourself at your...
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A trust could help your child with a grandparent’s money
A grandparent leaves money to one of your children. The child is only 10, so you're named as a guardian. Essentially, the money is under your control until the child is no longer a minor. However, you're worried about what could happen down the line. Is your child the...
A judge can alter strange requests in your will
If you're thinking of putting some rather strange requests in your will, it is worth noting that a judge may be able to alter them if your heirs mount a legal challenge. For example, a woman who was a hotel owner and a real estate investor left $5M for her heirs, who...
Trends could change your estate planning
If you're thinking of simply leaving your possessions to your children, one thing to consider is the way current trends are going around the time you'll pass those items on. They could have a huge impact on whether or not the kids actually want the stuff you've...
Do estate taxes target money that was already taxed?
One common complaint about estate taxes is that they simply target money that was already taxed at least once, as income. For instance, perhaps you are an only child and you have one surviving parent: your father. He earns money, pays taxes to the government when he...
