Devices
Estate planning involves the will, trusts, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gift, and powers of attorney, specifically the durable financial power of attorney and the durable medical power of attorney. After widespread litigation and media coverage surrounding the Terri Schiavo case, many estate planning attorneys now advise clients to also create a living will. Specific final arrangements, such as whether to be buried or cremated, are also often part of the documents. More sophisticated estate plans may even cover deferring or decreasing estate taxes or winding up a business.
Read more about this topic: Estate Planning
Famous quotes containing the word devices:
“There is nothing in machinery, there is nothing in embankments and railways and iron bridges and engineering devices to oblige them to be ugly. Ugliness is the measure of imperfection.”
—H.G. (Herbert George)
“The gods being always close to men perceive those who afflict others with unjust devices and do not fear the wrath of heaven.”
—Hesiod (c. 8th century B.C.)
“The relationship between mother and professional has not been a partnership in which both work together on behalf of the child, in which the expert helps the mother achieve her own goals for her child. Instead, professionals often behave as if they alone are advocates for the child; as if they are the guardians of the child’s needs; as if the mother left to her own devices will surely damage the child and only the professional can rescue him.”
—Elaine Heffner (20th century)