Are you unable to work to due to injury or illness? If so, you may be entitled to financial support through the federal government’s Social Security program. Of course, there are several hoops you must jump through in order to obtain disability-related financial support from the government, which we’re going to discuss further in today’s blog post.
Similar to a last will and testament, a revocable living trust (inter vivos) is a legally binding document that’s used to distribute property and assets to the grantor’s beneficiaries when certain conditions are met. For instance, a parent may choose to give his or her children their home when they pass. Rather than placing this decision in the hands of the probate court – which may or may not transfer the property to the children – the parent can create a revocable living trust, indicating exactly who gets what and when.
Power of attorney is a legally binding document in which the grantor gives another person authorization to make decisions on their behalf. There are a number circumstances in which power of attorneys are useful, such as when the grantor is medically incapacitated, incarcerated, not of sound mind, or if the grantor simply wants the security of having someone else make their decisions. Today we’re going take a closer look at this process, revealing some common questions and answers related to power of attorneys.