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January 2020

Should Each of Your Children Receive an Equal Inheritance?

Dividing up your property and assets amongst multiple children can be an impossible situation. Some solve the problem by avoiding the estate planning process it entirely, but not having a will is not the answer. It is a task that must be faced. The most obvious answer is an equal division of assets among the children. Equal division may at first seem like the right choice for most cases, however in some families, providing each child with an equal inheritance may not make sense. For some, rather than an “equal” inheritance, an equitable inheritance could be more sensible. While an equal...

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Elder Law: The Role of Power of Attorney

Setting up and enforcing a power of attorney (otherwise known as a POA) can be confusing. Yet it is an essential estate planning tool – particularly for aging individuals and their families attempting to create a solid plan to cover future care needs and protect their family. Power of attorney documents allow the principal to decide in advance who they want to trust to act on their behalf if they become incapacitated and cannot make decisions for their own care or finances, etc. The individual the principal designates as able to act on their behalf, is referred to as the agent. What...

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