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It could be in relation to medical, educational, and/or financial information.

If you are a parent to children who are not financially responsible, it is wise to have asset protection

This lets a spouse evaluate his or her financial circumstances and the tax rules as they actually exist

If you make careful estate planning choices now, you can prepare for your child’s future care and financial If you are concerned about planning for your child’s future, legal, educational, and financial necessities

The Des Moines Register’s article, “How to assist your aging parents with their finances,” points out another aspect of care giving: helping parents manage their finances. Talk to them and see whether they have financial goals above just covering their day-to-day expenses. Before your parents can legally let you handle their financial matters, you need to be listed as their Managing your parents’ or any relative’s finances can be extremely challenging.

It is no surprise that estate planning is often an avoided part of financial planning. fact, nearly half of Americans over the age of 55 do not have a will, and only 18% of them have what financial agent in your Statutory Durable Power of Attorney and your Medical Power of Attorney who would make financial Estate plans can protect young or financially inexperienced beneficiaries but are also helpful in protecting

planning is to ensure you and your family are taken care of, you do not have to limit your plans to only financial

It also makes all your assets public record, exposing sensitive financial information. Financial and retirement accounts (stocks, bonds. etc). Artwork, jewelry, collectibles. File change of ownership and beneficiary paperwork on financial accounts.

Your children’s financial stability – now and perhaps many years into the future. Should you treat all children equally, or should their financial situations be considered individually

You want to help provide for them financially, but you don’t want money or assets to interfere with their It’s hard enough to cover their health costs, let alone figure out their finances should something happen

decisions on your behalf should a time come when they need to do so: A durable power of attorney for finances designates someone to take over your finances. The Financial Side Of Things You might have noticed that the person given medical power of attorney gets some guidance from the living will, but the person given financial power of attorney seems to be free This is because the powers of the person holding a financial power of attorney document are limited in

Only compounding that difficulty is broaching the topic of death and the financial truths that are associated By starting the conversation earlier and discussing important financial questions with your parents, Process Your Own Emotions – Then Check Them at the Door Talking to your parents about death and finances documents are so important because they give a designated individual the legal authority to make legal, financial