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Estate Planning Attorney Definitions: Power of Attorney

Power of Attorney Definition

People often call us wanting a “simple will.” It’s on their “to-do” list.  They poked around on the internet, armed themselves with information, and then called us or some other estate planning attorney demanding their simple will.  That’s perfectly okay and they could be right.  Often, though, they are confused about what that simple will actually is, and how other documents, like a power of attorney can be of much greater value.

This may not be what every estate planning attorney considers a simple will, but, for us, it is actually a package of documents. The main documents that make up a simple will package is a Will, Financial Power of Attorney; a Healthcare Power of Attorney; HIPAA Releases; and the Living Will (also known as Healthcare Directives).  We include all of these documents to ensure your health AND your “stuff” are addressed in case of an emergency.  For this post, we will only be focusing on defining the Power of Attorney documents.

What is a Power of Attorney?

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Asset Protection Attorney Definitions: Irrevocable Trust

An irrevocable trust is a part of most serious, asset protection strategies. In the business of estate planning and asset protection, there are countless categories of trusts. And they all sound very serious.  When Lawyers create new categories of trusts, they often create names that are very similar, often using many of the same words, as trusts by a different name.  There are a number of main features or characteristics that differentiate every trust or every category of trust, and one such characteristic is whether a trust is revocable or irrevocable. [Read more…] about Asset Protection Attorney Definitions: Irrevocable Trust