Why Is a Living Trust Better Than a Power of Attorney?

Everyone is aware of the fact that you have to take care of things that will happen after you pass away when you plan your estate. At the same time, you should also think about the period of time that would logically precede your passing. People often become unable to make sound decisions at some point in time, with Alzheimer s disease being a leading culprit. Plus, there can be physical incapacitation that prohibits your ability to communicate decisions. To account for the possibility of latter life incapacity, you could execute legally binding documents called durable powers of attorney. These specific powers of attorney are utilized because a durable power of attorney would remain in effect if you become incapacitated. For financial decision-making, you could execute a durable financial power of attorney. Your incapacity plan can also include a durable power of attorney for health care. In some areas, the document is called a health care proxy. In these documents you name agents to


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s