Health care power of attorney an estate

Estate planning can help by setting up a durable power of attorney for health care. Typically, a durable power of attorney for health care will provide directions regarding which kind of medical treatment the person wants ? and which treatments the person does not if they would only delay death.
Source: stevenadlerlaw.com

Video: Estate administration

Estate administration considers credit card debt after death

As with most debts, credit card companies will usually attempt to get compensation from the cardholder?s estate. New Jersey residents, as in other states, with an estate plan may benefit from knowing how this process works in estate administration. In most cases, the debt of the cardholder will be paid from their estate. If there is not enough money in the estate to pay the debt, credit card companies may seek to obtain the money from the relatives of the deceased person.
Source: camdennjprobateestateblog.com

Painter?s widow, companion fight over estate

This case should be of great interest to Miami-area residents, given the artist?s popularity throughout the United States. Kinkade, who died April 6, left behind an estate of more than $60 million. His works are said to hang in one of every 20 homes in the U.S.
Source: buxtonlaw.com

New Jersey executors make mistakes during estate administration

Without legal help, many executors may not understand how important disclaiming can be in New Jersey. If someone is set to inherit an asset, he or she can disclaim it, or affirm that he or she will not accept the asset. This may be helpful when a beneficiary is otherwise well-provided for and would rather the second in line to the asset receive something. Once an asset is transferred, however, it cannot be disclaimed, meaning that an executor who rushes through the estate administration, reassigning assets to others, could prevent someone from disclaiming an asset he or she doesn?t want.
Source: broganelderlaw.com

Report: Michael Jackson?s troubled estate almost debt

Now, here?s where you can learn something from Jackson?s affairs. The Jackson family is notoriously fractured and after Jackson died, there was a lot of arguing over whether his father Joe would control his affairs, or whether that would fall to his mother Katherine (she eventually won.) It also was not clear how his three children would be provided for.
Source: minneapolismnprobatelawyers.com

Trusts are simpler than you might think

The first party is a grantor or creator. This is the individual who signs documents placing assets in the trust. The second party is the trustee, who manages the assets within the trust according to legal guidance laid down by the grantor. Although the trustee legally acts as the owner of the assets in the trust, they do not have unlimited power. Trustees are governed by various statutes and estate administration provisions that differ from state to state. Finally, the third party is the beneficiary. These people have the right to access income or principal from the trust, depending on the terms. Beneficiaries are usually named at the time the trust is drafted.
Source: miamiprobate.com

Maximizing Maryland estate administration without a breakdown

Beginning the process with a simple statement of the facts, circumstances and guidelines can be a tremendous help. Outlining capitalization and creating an intentionally defective trust (IDT) may be two ways to ensure that the business is secure and that these important financial considerations are included. It is also important to outline voting rights and how much the children are involved in the business, as well as considering asset division among children who are not involved.
Source: marylandestateplanninglawblog.com

Family Limited Partnerships ? Worth Another Look (Especially This Year)?

The Pickford Law Office of Murrieta, California, writes about Fundamental Estate Planning, Wills, Trusts, Revocable Living Trusts, Durable Powers of Attorney, Health Care Documents, Long-Term Care, Elder Law, Medicaid, Probate and Estate Administration, Charitable Planning, Special Needs Planning, Estate Tax Planning, Business Succession Planning, Asset Protection, Business Formations, Bankruptcy, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Lien Stripping: Discharging Mortgages, in the City of Temecula, Murietta and Hemet, California, and the surrounding areas.
Source: pickfordlaw.com

Kinkade estate dispute concerns two holographic wills

In themselves, holographic wills are valid in California if properly executed, as they are in Florida. Interestingly, though, the sloppy appearance of Kinkade?s wills has caused some to question whether he was in the right state of mind to execute a will. Some have suggested that Kinkade may have been under the influence of alcohol at the time he wrote the wills. Short of undue influence or lack of mental capacity, there wouldn?t necessarily be an issue with this, but it would call his mental capacity into question.
Source: charleslawoffices.com

Texas estate planning can include long

There are many aspects of estate planning some may not consider as they work to plan for their future. One consideration for people in Texas may be the idea of long-term care insurance as a part of estate planning. This type of insurance, with some policies, can offer peace of mind to a person concerned about paying for medical care in old age along with the assurance that whatever money is not used in medical care can be offered to heirs in estate planning documents.
Source: scslawyer.com

Court Determines Guardian ad Litem Fee :: New York Probate and Estate Administration Blog

In this particular case the value of the estate of the decedent at the time of his death was roughly $506,000. The debts and expenses total around $44,400, which leaves a net of about $461,600. The settlement provides the wife with $154,000, which is more than her one third allotted shares. The guardian states that he has spent approximately 31 hours working on this matter. The services provided include interviewing witnesses, visiting his ward, determining the value of his wards share of the estate, ascertaining the value of the estate, participation in settlement negotiations, appearing in court three times, and preparing and filing interim and final reports in the case.
Source: newyorkprobateestateadministration.com

2013 to bring changes to tax implications for estate planning

Because of this, many people are choosing not to update their estate plans, and are riding on blind faith that the government will not allow the tax change to happen. Some still say that taking advantage of the $5 million exemption while it?s here is wise, so estate plans should be updated. Along with these estate planning concerns, 2013 will also bring with it a 3.8 percent tax on investment income and capital gains. While these monies may not directly affect the estate planning process, the outcome of the investments may very well be in the future.
Source: ohioprobateattorneyblog.com

Advance Directives in New York

An individual should give careful thought before granting this type of authority to another and only grant such authority to an individual in whom they have a great amount of trust. One safeguard would be to include language denoting a ?springing? power of attorney ? basically, power will not transfer to the agent until the occurrence of a specific event such as?a declaration by the treating physician that the principal has lost capacity. Third parties are frequently reluctant to honor the ?springing powers? and it may be inconvenient in some circumstances to obtain proper medical documents required for the power to ?spring to life.? Another safeguard could be to leave the document with the attorney or principal until it is deemed that it is appropriate to transfer the power. Powers of attorney are recognized in all states; however, the laws of each state govern the formalities in which they are executed.
Source: suffolkcountyelderlawattorney.com

Social Media and Estate Administration

Facebook?s policy with regard to deceased account holders is to create a memorial profile of the deceased individual upon the receipt of reliable information from a family member that the account holder is deceased. At that point, ?friends? may still post on the deceased?s page but no one can log-on to the account. The proposed law would cover other social media, micro-blogging sites or e-mail accounts as well. Given the fact that there is a substantial amount of money that can be made through social media, blogging and other electronic media without ever actually selling a product, it is no surprise that questions are beginning to surface revolving around whether these are considered ?assets? for estate purposes.
Source: yourestatematters.com

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4. Court Rules of Power of Surrogate :: New York Probate and Estate Administration Blog
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Source: http://probatecourtco.com/health-care-power-of-attorney-an-estate/

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