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Estate Planning Mistakes and How to Avoid Them | Insights from Sanford Mall, JD
Manage episode 366508207 series 3017462
Innhold levert av Jae Oh, CFP, Author, Jae Oh, and CFP. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Jae Oh, CFP, Author, Jae Oh, and CFP eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Estate Planning Mistakes and How to Avoid Them | Insights from Sanford Mall, JD
Sandy and I have known each other and have worked together for years. This video features an interview with elder law attorney Sanford Mall, discussing the importance of legal documents such as trusts, wills, and medical directives. The conversation highlights the significance of having a medical power of attorney and a financial durable power of attorney to make decisions on one's behalf when unable to do so. It emphasizes the need to avoid probate court by utilizing a revocable living trust and properly funding it. The interview also addresses the importance of keeping estate planning documents up to date and tailoring them to individual circumstances. Legal documents like trusts, wills, and medical directives are crucial for individuals to protect themselves and their assets. A medical power of attorney allows a chosen representative to make healthcare decisions when a person is unable to do so, while a financial durable power of attorney appoints someone to handle financial matters. Utilizing a revocable living trust and properly funding it can help individuals avoid probate court and maintain control over the distribution of their assets.
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