estate planning


Main Takeaways: A revocable trust is a trust where the money stays liquid; it can be taken out again. An irrevocable trust is a trust where the money cannot be taken out again. A revocable trust often becomes irrevocable after the death or incompetency of the person who sets up the trust, making it a good option […]


Main Takeaways: A statutory durable power of attorney is a legal agreement, giving someone the power to act on behalf of someone else, except for healthcare decisions. If the principle is already mentally incompetent, a power of attorney cannot be established, as the principle must be able to act on his or her own behalf. […]