One commonly asked question is what happens to the power of attorney after someone dies. The short answer is it becomes invalid. Let’s look at why. What is a power of attorney used for? When you give someone power of attorney, you provide them with authority to make...
Month: June 2020
Cryptocurrency can bring additional problems when estate planning
Being an early adopter of new technologies such as cryptocurrency can create opportunities to make money before the rest of the world catches on. Yet, it can also create issues when the authorities are still deciding how to regulate it. If you are one of the estimated...
What does being an executor of a will entail?
When you die, someone will need to administer your estate. This person is known as the executor. What does an executor do? An executor must perform several tasks. These include: Pay the funeral expenses: The money comes out of your estate, not their pocket. Account...
Estate plans can go out of date
Once you make an estate plan, you might file it away and forget about it. Yet failing to update it will create problems for your family when you die. You need to revisit it regularly and make changes when needed. Reasons to update your estate plan Here are some of the...