What if everything you’ve ever been told or believed about estate planning was wrong? Maybe even dangerous?
Hi. I’m Gary the owner of DeWitt Law. We’re with you every step of the way. Start your plan now at dewitt dot law
Okay. Maybe not everything, but there are three common beliefs and myths that are very wrong and can cause more problems than they avoid.
Most people have been told things or believe things about estate planning that are dangerously wrong.
First, a durable power of attorney is good forever. No. A durable power of attorney loses its power the moment somebody passes away. I’ve even had to argue with funeral homes, who should know better, that the durable power of attorney ends at death. After that, the Will or Trust takes over. If you don’t have a Will or Trust, the State takes over.
Second, you automatically have the legal right to sign for your sposue. Not true. In order to be able to legally sign for your spouse, you must have a durable power of attorney or go to court and get permission to sign for them. You can’t sell property or deal with their retirement benefits without their permission and signature. You can’t sign a nursing home contract on their behalf. If you don’t have durable powers of attorney, the State literally takes control through a guardianship.
Third, a Will avoids probate. Nothing could be further from the truth. A Will requires probate. A Will has no power until a Judge says the Will is valid and appoints the executor or personal representative.
To get your plan started, go to dewitt dot law and setup an appointment.