Frankly, it’s just a plan for how your loved ones can keep watching Disney movies on your iTunes account if you died. Ok, maybe it’s more than that, but that’s the gist of it.
The most challenging estate administrations that I have had involved searching for accounts where the deceased had been chasing the (now non-existent) highest interest rate all over town. Consider how challenging locating assets can be if you didn’t even know where to start!
In the information age, assets and personal information are increasingly held online. Bank and credit card statements are delivered to your email. Video collections are purchased through iTunes, Google Play or Amazon Video. If you’re like me, the only photo albums you have are on iCloud. Continue reading What the heck is a digital estate plan?
I covered this in an earlier post, but I was just speaking to a friend this morning about it and thought I would share it again. Click here to read why your adult child desperately needs to have a medical power of attorney.
. . . without naming you on a medical power of attorney!
Alright. I know. That was bad. However, if you keep up with my blog you will soon learn that I love bad puns. Now that I have gotten that out-of-the-way. . .
If your adult kids (over 18) don’t do any other estate planning, they should name you as their agent under a medical power of attorney.
Click your state to find state approved forms: Tennessee, Mississippi, and Arkansas.
When your kids are minors you as their parent and natural guardian make their personal and medical decisions for them. However, as soon as they reach adulthood they are presumed to be able to make their decisions. Likewise, when they turn 18 (if they do not have a medical power of attorney), neither you nor anybody else can step in to make their decisions if something happens to them.
Continue reading Mammas Don’t Let Your Babies Grow Up…