These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
Unfortunately, there are several common missteps people make in their estate planning that can lead to unwanted results. Read on to discover the two things you should never include in your will, as well as what to substitute instead.
To get power of attorney (POA), the person granting you that power must name you as the agent to have the powers specified in the POA document. It must be signed by the giver while s/he is sound of mind.
It's hard for a family to recuperate when the patriarchs and matriarchs have gone to glory, leaving a battle for who will carry the family's leadership role and manage the family's transition of wealth.
Your last will and testament is one of the most important legal documents that you will ever make. It allows you to direct where you want your property, guardianship and debts to go after you die, and allows you to appoint an executor to act out your wishes.
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
Regardless of your income level or celebrity status, everyone will leave a legacy. And author Michelle Adams helps you to be intentional about building a strong family legacy. Order a copy today!