TAILIEUCHUNG - Nolo’s Encyclopedia of Everyday Law Phần 7

Tham khảo tài liệu 'nolo’s encyclopedia of everyday law phần 7', văn bản luật, văn hóa xã hội phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | N o l o s E n c y c l o p e d i a o f E v e r y d a y L a w mortgage real estate and other property collect benefits from Social Security Medicare or other government programs or civil or military service invest your money in stocks bonds and mutual funds handle transactions with banks and other financial institutions buy and sell insurance policies and annuities for you file and pay your taxes operate your small business claim property you inherit or are otherwise entitled to transfer property into your living trust represent you in court or hire someone to represent you and manage your retirement accounts. Whatever powers you give the attorneyin-fact the attorney-in-fact must act in your best interests keep accurate records keep your property separate from his or hers and avoid conflicts of interest. I have a living trust. Do I still need a durable power of attorney for finances A revocable living trust can be useful if you become incapable of taking care of your financial affairs. That s because the person who will distribute trust property after your death the successor trustee can also in most cases take over management of the trust property if you become incapacitated. Few people however transfer all their property to a living trust and the successor trustee has no authority over property that the trust doesn t own. So a living trust isn t a complete substitute for a durable power of attorney for finances. Can my attorney-in-fact make medical decisions on my behalf No. A durable power of attorney for l finances does not give your attorneyin-fact legal authority to make medical decisions for you. You can however prepare a durable power of attorney for healthcare a document that lets you choose someone to make medical decisions on your behalf if you can t. In most states you ll also want to write out your wishes in a healthcare directive which will tell your doctors your preferences about certain kinds of medical treatment and life-sustaining procedures if you

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