Life can take unexpected turns any time. As a result, it is smart to appoint someone who can act on your behalf to make financial decisions if you become incapacitated. Most of the time when people think about estate planning, they are thinking about preparing a will or trust to pass on their assets to their children. But there are certain documents that should be considered that can be activated while you are still alive to assist your family in case you become incapacitated. One of these documents that should be considered is a durable power of attorney.
What Is A Durable Power Of Attorney?
A durable power of attorney Michigan is an instrument by which the creator of the power of attorney can assign the responsibility of handling their finances to a trusted party in case they become incapacitated. Mostly, the durable power of attorney is needed to keep the finances well-managed when the owner has lost the capacity due to illness, accident or old age. It is not uncommon to become ill or incapacitated during old age. Without a durable power of attorney, it becomes very difficult for family members to access your funds and make financial decisions on your behalf.
How Does A Durable Power Of Attorney Helps?
Durable power of attorney offers the owner the flexibility to assign the job of managing and moving funds if they are incapacitated. On the behalf of the owner, the power of attorney holder can carry out the functions, such as:
a.Sign checks for payments, repayment of mortgages, etc.
b.Buy insurance for the owner
c.Move funds from one account to another or to make deposits in the bank
d.Sell the property
e.Sign contracts for availing professional services or medical help
By making a durable power of attorney, you appoint someone you trust to manage your financial affairs and make decisions on your behalf. This saves dependents and loved ones from going to court to request access to your funds.
Additionally, a durable power of attorney offers benefits when the spouse needs access to accounts which are not jointly held. This allows the spouse to access funds to pay any additional bills. This allows the family to maintain privacy because the court does not need to get involved in order to access an account that is not jointly held.
If you need a durable power of attorney drafted, it is usually best to consult with an estate planning attorney.
A trust is the easiest and most effective way of passing your property to your loved ones after you are gone. The trust outlines who should receive your assets and doesn’t require the probate court process when distributing your property to your beneficiaries. This allows you to make sure that the proper family members receive their inheritance and they don’t have to go through the difficult probate court process to receive it.
The Major Advantages of a Living Trust:
A Living Trust Lawyer can help you create a living trust so you can benefit from the following advantages:
a.Avoid Probate Court
Unlike a last will and testament, a living trust avoids probate court. A last will and testament has to go through the probate court process in order to be executed. A living trust on the other hand, avoids the need to go to probate. Probate can be a long and expensive process that can create additional stress on your family during an already stressful period. Additionally, avoiding probate helps maintain the privacy of your assets.
b.Maintain Privacy of Your Assets
Probate is a public process which means all the financial details of your estate become public record. To avoid this, you should create a living trust instead of last will and testament. With a living trust, most asset transfers take place in private within a few weeks. Probate, on the other hand, can take years in certain situations.
c.Maintain Control Over Your Assets
A living trust allows you to maintain control over your assets after you pass. For example, if you have minor children, you can delay distributions until they become adults and are mature enough to handle the responsibility of receiving an inheritance.
One of the very few disadvantages of a trust is that it is more complex and involves additional time a paperwork vs a last will and a testament. While it is a little more involved to create a living trust, the advantages outnumber the disadvantages of a trust when it comes to estate planning. Because of the additional complexity, it’s usually best to consult with a Trust Lawyer that focuses on trust preparation.
Marijuana is a plant-based substance mostly created out of the Cannabis sativa. The doctors mostly recommend medical marijuana or medical weed for reducing the risk of nausea and vomiting during chemotherapy. Also, marijuana gets prescribed for reducing chronic pain and improves the appetite for HIV/AIDS patients. The marijuana comprises of THC, CBD and CBN. However, cannabis and weed are used to treat several health-related issues, including nausea, vomiting, reducing chronic pain, treating the loss of appetite and many more. Following are some of the most widely known and acknowledged benefits of marijuana.
1. Treating Anxiety and mood disorders with marijuana
Depression and anxiety are the most common mental illness which can be cured by marijuana and the weeds. The components of marijuana help to elevate the moods and reduce stress. Reports have been shown that anxiety can be triggered by depression. Therefore, eliminating the anxiety can cure depression. An authentic online store provides lab-tested marijuana and weeds, which can cure your stress and will help to fight with the depression.
2. Reducing chronic pain
Marijuana has some elements which can cure chronic diseases. It can cure arthritis, back pain, chronic migraines, nerve damage etc. It is an alternative to painkillers drugs. You will get high-quality marijuana and weed from authentic online stores.
Marijuana has a different benefit which very few people get acknowledged. Fighting deadly diseases is considered one of the benefits of weed and marijuana. Therefore, it gets legalized in many countries, and doctors prescribe green cannabis only under some specific conditions.
Alzheimer’s is an untreatable ailment, but the help of medical marijuana can improve the health of the patients. The marijuana comprises the components such as the THC which removes the toxic elements found in the brain. However, it is slow progress, and it takes time to cure, but it provides a positive impact on the health of the patient.
Cure a headache
A headache is something which can really give you a hard time. Therefore, you can eliminate the pain by using marijuana from a Dispensary. It is essential to mention that cannabis contains the Tylenol and Advil, which can help to soothe your pain, and it relieves you from the inevitable pain that a headache brings forth.
There are many kinds of medical marijuana available in the market. Therefore, you need to research before purchasing the marijuana. It will be advisable if you are buying marijuana from authentic places. Now it is available on the online store also. Therefore, you can easily take the benefit of it and buy from a reliable online store to get the maximum advantage from it.
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