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Estate Planning For Incapacity Tag

The Law Office of Libby Banks > Posts tagged "Estate Planning For Incapacity"

Estate Planning for Incapacity

When my clients think about estate planning, they tend to think about the end of life, about what’s going to happen to their assets, and who will handle the estate and make distributions to their beneficiaries. Often, they don’t realize that an equally (or maybe more) important aspect of planning is all about who will manage your assets and take care of you and your financial affairs if you become incapacitated. With proper planning, you decide; without proper planning a court may get to make the choice, and at great expense and rarely expeditiously. What do we mean by “incapacitated?” In...

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Estate Planning For Incapacity

By Libby Banks, The Law Office of Libby Banks Estate planning isn’t just about who will get your assets on your death. It’s also about who will manage your assets and take care of you and your financial affairs if you become incapacitated. With proper planning, you will decide that. Without proper planning, a court may be the one to make that choice. You are considered incapacitated when you can’t make decisions for yourself or handle your affairs. A Will won’t help if you are incapacitated -- it’s only effective upon your death. You may have a power of attorney in place and believe this planning tool...

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