Some people set up a power of attorney so that someone can take over their important financial or health care decisions in the event they become incapacitated and cannot make crucial life decisions any longer. Unfortunately, there are some POAs who abuse their powers. In such a case, another party, such as a relative of the person who set up the POA originally, may seek to have a New Jersey court remove the POA.
There may come a time when you're unable to make important decisions about your health care. For instance, if you're incapacitated by illness or injury and can't communicate to medical staff, your wishes regarding health care may be ignored. That's where a power of attorney comes in. This is a person you appoint to speak on your behalf and ensure your desires regarding end-of-life care are honored. Very Well Health explains what to look for when choosing a power of attorney.
The issue of creating a will can often be a contentious one, which may be why so many tend to avoid doing it (at least publicly). Many in Ocean County & believe the estate planning process must be a formal affair, where you and other potential parties to an estate should be called together to provide your input into how your loved one should disperse their assets. Yet does your family member or friend have an obligation to include you in this process? No, they do not. In fact, some may simply write our their will themselves and then pass them on to the appropriate parties. Here at Campbell & Pruchnik, LLC, many often ask us if such a will is even valid.
One of the most valuable assets you have is likely a piece of property, such as your main residence, or a beach house you offer as a vacation rental.
Relocation can be stressful for an array of reasons, from financial considerations related to moving (such as buying or selling a home and starting a new job) to the emotional impact that the move may have on loved ones. People often move for new and lucrative opportunities and to gain a fresh start on life, but it is essential to make sure that all important issues are taken into consideration before moving, such as the potential impact that relocation may have on an estate plan. There are a number of ways in which your estate plan could be affected by relocating to a different state.