Many families are finding that true legacy planning requires sharing vision and values with the next generations.
One of the most misunderstood estate planning documents is the power of attorney. While seemingly simple, a number of design features should be thoughtfully considered, and any agent should take the fiduciary duties quite seriously.
For business owners, passing their business on to heirs is fraught with issues, which are explored at length in this excellent article.
Having valid powers of attorney in place is crucial. But that may be just the first step in ensuring the seamless management of your financial assets if you become incapacitated. We encourage clients to do a “dry run” and confirm their powers of attorney meet the requirements in place with their financial institutions.