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Can a Spouse Override a Trust?
Trusts are valuable tools for financial management and estate planning. Trusts come in numerous varieties and serve various purposes. Whether a spouse can override a trust is not a simple question because it depends on the circumstances. So, let's look at some of the variables and how each would influence the answer.
Can a Spouse Override a Will?
When a spouse passes without a will, the spouse’s estate goes through probate. Probate is a state process determining where a deceased’s property will go. This also depends on state laws. There isn’t an easy way to determine where probate assets may go since there are a number of variables that determine the final destination of the property.
What is the Difference Between Durable and General Power of Attorney?
Power of Attorney is a term that indicates that the grantor has given another person authority to act on their behalf. The person to whom the authority is given does not need to be an attorney and typically isn’t. In fact, you don’t even need an attorney to establish the POA, although a notary will be helpful.
How Much Does a Medical Power of Attorney (MPOA) Cost?
A Medical Power of Attorney (MPOA) is one of the most commonly used types of POAs. The MPOA is sometimes called a healthcare proxy, an advanced directive, or a Durable Power of Attorney for Healthcare Decisions. With any of these names, an MPOA is a grant of authority from one person to another, allowing the designated person the authority to make medical decisions on the grantor's behalf when they cannot do so.
Does a Medical Power of Attorney Need to be Notarized?
A medical power of attorney (often referred to informally as a healthcare proxy and formally as a Durable Power of Attorney for Healthcare Decisions) is among the most commonly used POA types. As with any POA, a medical power of attorney is a grant of authority from one person to another. In this instance, the grantor confers to the agent the authority to make medical decisions on the grantor’s behalf when they cannot do so.
Does a Limited Power of Attorney Need to Be Notarized?
The grant of a power of attorney (POA) means the grantor authorizes the grantee to act on their behalf. That's the simple definition, but the topic becomes somewhat confusing due to multiple variations on the basic grant. A power of attorney can be comprehensive or limited, durable or with a defined endpoint, and customized to suit the principal's needs.
What Is The Purpose Of A Cy Pres Doctrine?
The Cy Pres doctrine is a legal principle crucial in various legal and charitable contexts. It originated from the French phrase "cy pres comme possible," meaning "as near as possible." Still, it has evolved and expanded to serve a variety of purposes. Now, courts use the doctrine when a charitable objective cannot be fulfilled as initially planned.
What is Alternative Asset Management?
Traditionally, investment portfolios have included stocks, bonds, and cash. The widely accepted MPT (Modern Portfolio Theory) expounded a mathematical framework for building a portfolio of stocks and bonds that maximizes expected return in accordance with an individual's acceptance of risk. Someone willing to accept more risk would choose a portfolio weighted toward stocks. For a risk-averse investor, the portfolio would contain more fixed-income products like bonds. The default weighting for a portfolio was long ago set at 60 percent stocks and 40 percent income. This division is notably successful over long periods, but other configurations can also be favorable.
How to Activate Springing Power of Attorney
Some people rest easier knowing they are prepared for unexpected incidents that could leave them unable to take care of themselves. Others prepare for adverse conditions in their future as they age by creating an estate plan that includes a springing power of attorney.
Alternative Trading Systems: An Overview for Investors
Alternative Trading Systems (ATS) offer a different avenue for trading securities than traditional exchanges, serving as regulated platforms that connect potential buyers and sellers. While they function similarly to national securities exchanges in matching orders, they are not classified as such. Unlike national securities exchanges, they provide a less formal, more flexible market structure. Although under the regulation of the SEC, an ATS maintains its unique identity by operating under its own set of rules, creating a niche marketplace for certain types of securities. It is noteworthy, however, that an ATS can apply to the SEC to upgrade its status to a national securities exchange if it wishes to adhere to more formal structures.
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