Time and time again we see cases of inadequate powers of attorney which fail to provide sufficient authority to act. These documents usually obtained on-line through legal providers or Trust mills provide generic, basic provisions that can fall short of a client’s needs. The recent case of Metlife Insurance Company v. Sumner is an example….
Many clients are confused regarding the use of Durable Powers of Attorney in their Estate Plan. In California we have two separate documents, the Healthcare Power of Attorney, known as the Advanced Healthcare Directive (AHCD). The Financial Power of Attorney is called the Uniform Durable Power of Attorney (UDPA). The AHCD is essential for healthcare…
This subject led me to write a book in the late 90s called Avoiding Tax Traps In Your IRA which was endorsed by Kiplinger’s Retirement Reports. In my research for the book, I discovered a minefield of tax traps which caused individuals to lose substantial money to taxes and penalties. I will use this blog…