Page 32 - Aloia Funeral Home

The potential responsibility and work involved in in in in in being an an an an an Estate Trustee can can be be significant and and thus appointing someone with the financial acumen and and willingness to take on on on this responsibility is is a a a a a a must must Often times people assume they must must appoint a a a a a a a a a a relative or child to act as an an Estate Trustee because it it would be be be “an “an honor” honor” While it it may be be be considered “an “an honor” honor” for some the the primary considerations should be be choosing someone with the the patience ability and willingness to carry out this responsibility Powers of Attorney
A power of attorney is an an instrument by which a a a a a a person person authorizes another person person (the “Attorney”) to to act on on on on his or or or or her behalf It is is quite common for for people to to to execute a a a a a a a a power power of of attorney attorney for for personal care and a a a a a a a a a a power power of of of attorney attorney for property at at the same time of of drafting a a Will In a a a a a a a power of attorney for property the authority granted to to to an an an Attorney
may may be general in nature and thus may may authorize the the Attorney
to to to act on on the the grantor’s behalf in in in conducting his or or or her financial affairs Alternatively the the power of attorney attorney may be quite narrow authorizing the the the attorney attorney to to perform specific specific acts such as as the the the sale of of of specific specific assets (house car etc ) the the the conduct of of of banking or the the transfer of of of securities etc Similarly in a a a a a a a a power of attorney for personal care the the authority authority granted to to to to an an attorney is is is the the the authority authority to to to make on on on on his or or or or her behalf decisions concerning the the grantor’s personal care care such as health care care shelter nutrition clothing hygiene and safety While you can appoint more than one attorney it is important to to to decide whether they are to to to act “jointly” or or or “jointly “jointly and severally” Depending upon where your attorney resides such a a a a a a a a a distinction may have significant practical considerations Information Gathering
Upon death one of the the first things to to do is to to to gather gather as as much information as as possible It is important to to look for for and gather gather any Wills deeds financial documents notes and insurance policies etc that the deceased may have As a a a a a a a a a a starting point the the testator testator should consult the the testators lawyer as it is generally good practice for Page 32 - - ALOIA - - FUNERAL HOME ALOIA - - FUNERAL HOME - - Page