Making Power of Attorney Decisions

documentDeciding on a power of attorney is not only for the elderly (but that demographic certainly should be making it a priority). Various estate planners work on facilitating this process for their clients. Creating a power of attorney is not really something one can do alone; they are often complex papers, involving a wide range of important decisions.

To help navigate the process, a book has been written on the matter by authors Jonathan Blattmachr and Martin Shenkman. ‘Powers of Attorney: The Essential Guide to Protecting Your Family’s Wealth,’ is an e-book that focuses completely on powers of attorney.

Some of the subjects covered in the book include:

  1. Who to appoint
  2. How many agents should be appointed
  3. Alternates (in an instance in which your agent cannot serve)
  4. Trust Powers
  5. Copies and Storage
  6. Durable (those who survive the incapacity of the principal)/ Springing (when the principal becomes incapacitated)
  7. Gifting

The authors also advise readers to make a preliminary check with all of their financial institutions where they have accounts to check if they have power of attorney forms.

 

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Eagle River Advisors Principals to Hold Webinar on Life Insurance and Estate Planning

Jonathan Blattmachr and Marc Pasquale of Eagle River Advisors will hold a webinar on Wednesday, June 27 at 1 pm EDT. The complimentary webinar is being held in conjunction with InterActive Legal and is entitled “Life Insurance and Estate Tax Planning: Towards a More Objective Decision”.

Life insurance is frequently purchased as a solution to funding estate taxes, but in practice, it may be a costly and imperfect solution. The event affords professionals in the industry an opportunity to hear the speakers discuss their views on how life insurance can be incorporated together with lifetime estate planning solutions including the use of some atypical insurance designs that offer additional efficiency and flexibility. The webinar is being presented in conjunction with an article authored by Mr. Blattmachr and Mr. Pasquale that is being published in an upcoming issue of Trusts and Estates.

Eagle River Advisors is an independent boutique advisory firm which develops and delivers innovative wealth, gift and estate planning strategies on behalf of high net worth individuals and families. Established in 2010 by three highly respected and renowned industry luminaries, Eagle River Advisors’ approach is unique for the superior pedigree of its counsel and for its focus on creating individualized client solutions that fully address current legal, economic and regulatory environments.

Jonathan Blattmachr on Estate Planning and Gift Taxes

Jonathan Blattmachr — a nationally-recognized expert on estate planning and a prolific speaker on insurance and taxation matters in estate planning — spoke on the topics of ‘Looking Back and Looking Forward – Preparing Your Practice for the Future,’ ‘Efficient Use of the New $5 Million Gift GST Tax Exemptions,’ ‘Current Development Relating to Circular 230, Federal Ethics for Tax Practitioners,’ and ‘Tax Effects of Decanting – Obtaining & Preserving the Benefits.’