Assigning power of attorney duties in an estate plan is a wise decision to ensure someone you trust has authority to make financial decisions on your behalf. However, circumstances change over time, and there may be reason to reassess your power of attorney appointments.
Many people are involved in collecting, whether it is comic books, dolls, figurines or sports memorabilia. Most of them make an effort to take care of their collections, maintaining the original packaging or even keeping the items in a climate-controlled area. Yet far too few collectors actually plan for how their collections will be handled once they die.
Millions of Americans carry debt, and many people will pass away owing at least some money. This could be in the form of a mortgage, credit card debts, personal loans or other types of liabilities.