Legal Documents Parents May Consider

 

  • Will – Guardianship for your children, who will handle the children’s money until they are of age; and at what age your child receives unbridled control of funds
  • Durable power of attorney for healthcare – If your spouse cannot make healthcare decisions for you, who will?
  • Durable power of attorney for financial matters – If your spouse cannot make financial decisions for you, who will pay the bills?
  • Living will – What are your decisions regarding your right to live or die?
  • General estate planning – Consider taking care of parents or pets and your child’s special needs

A tax and estate expert, Stuart H. Sorkin, P.C., Esq., has provided valuable information for this section. Mr. Sorkin is a partner in the Washington, D.C. law firm, Hughes and Bentzen, and has been quoted in The Wall Street Journal, USA Today and Time and Money magazines on exit strategies, income, and estate tax planning.

This expert has shared his questionnaire (PDF) to get your conversation rolling.

Please note – This website is not intended to give legal advice, merely a springboard for conversation.

1 Comment

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1 Comment to Legal Documents Parents May Consider

  1. by what is a revocable trust

    On December 6, 2013 at 11:07 pm

    With a durable power of attorney you can restrict the powers you give your representative.

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