Several weeks ago we wrote about the story of John Potter, a 92-year-old Ohio man and World War II veteran who is being evicted from his home by his own daughter. The story started when Potter granted his daughter financial power of attorney in 2004 when he and his now-deceased wife began experiencing health problems. After realizing in 2010 that his daughter had used her position to transfer title of his home into her name, Potter went to court to try to get the property retitled. An Ohio … [Read more...] about Ohio Veteran John Potter Still Facing Eviction
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Multiple POA Agents and Co-Agents: 3 Questions
Question 1. A how many agents should I use with a power of attorney? In general, it’s always best to use a single agent with any power of attorney, or POA. When you create a power of attorney, you delegate some of your decision-making authority to someone else. For each POA you make, be it financial, healthcare, or other, it’s always best to have that power vested in a single agent. Question 2. What if I have multiple powers of attorney? Should I have a single or multiple agents? That … [Read more...] about Multiple POA Agents and Co-Agents: 3 Questions
Gandolfini’s Will Details Revealed
James Gandolfini, the actor renowned for his role as Tony Soprano in the HBO television program “The Sopranos,” died at the age of 51 in June after suffering a heart attack in Italy. He left behind an estate estimated to be worth about $70 million, as well as a last will and testament that was recently submitted to a Manhattan Surrogate’s Court. The details of the will show that while Mr. Gandolfini did take some appropriate estate planning steps, he didn’t do as much as he should have. In … [Read more...] about Gandolfini’s Will Details Revealed
Having a Child After You Make Your Will
Estate plans are not static creations that, once you make, you can leave and not look at afterwards. Like your car, your plan requires regular maintenance. In some situations you may need to revisit your plan as soon as possible. One of these situations is when you have made a last will and testament and, afterwards, have a child. Revisions When you make a will you make choices about your property and how you want to distribute it after death. Most people choose to leave their children … [Read more...] about Having a Child After You Make Your Will
When Parents Resist Estate Planning
Some of the more difficult estate planning questions you might have to deal with don’t involve your plans at all. Instead, what many people find to be most difficult is bringing up the topic of estate plans with parents who have yet to begin their own efforts. In many situations, an aging parent can be very reluctant to look at estate planning, especially when a child begins the discussion. Though these conversations can be difficult, you need to speak to your parents about estate planning as … [Read more...] about When Parents Resist Estate Planning
