September 15, 2009
You need a Last Will for many reasons. Even if you do not have a Last Will, you have an estate plan. That plan is laid out by New York’s intestacy statute, which provides the order in which your relatives will inherit your estate if you die without a will. If you are survived by your spouse only, your spouse will inherit your entire estate. If you are survived by your spouse and children, your spouse will inherit the first $50,000.00 of your estate, and the remainder will be split equally between your spouse and children. This provides the first reason why you should have a Will. (Click here for more…)
August 20, 2009
A health care power of attorney designates an agent to make decisions regarding health care when a person cannot make those decisions due to incompetence or unconsciousness.
In South Carolina, only one person can serve as your health care agent at one time. You may designate another person to serve if the first agent can not, but they cannot be designated to act at the same time.
A living will is simply (Click here for more…)
June 3, 2009
A Power of Attorney is a document that can be used to appoint an individual (Attorney-in-Fact) to manage the affairs of another. This is useful for a time when people become incapable of managing their own affairs, whether through mental or physical disability. It is required that a person be competent to execute a Power of Attorney; an incompetent person may not validly execute a Power of Attorney. Thus, once a person becomes incompetent, it is too late. However, a Durable Power of Attorney executed while competent is not affected by subsequent incompetence and will remain in effect.
Why is it important to (Click here for more…)
