Should You Have Your Child Serve As Your Power of Attorney?
As you plan your estate, it’s natural to think of your children as the ones who would serve as your power of attorney. However, this may not be the right move for a variety of reasons. On this episode of the Aging in America podcast, estate attorney Andrew Loudon tackles this very topic – along with many other “wish I would have asked someone that” type of questions.
He also discusses the one piece of legislation in Nebraska that may impact family farms for years to come.
Andrew Loudon is a trusts and estates attorney at Baylor Evnen. His practice is limited to wills, trusts, business succession planning, federal estate tax planning, non-probate estate administration, probate proceedings, powers of attorney, living wills, and guardianship and conservatorship proceedings. He is a graduate of the University of Nebraska College of Law. He is also an active member of Eastridge Presbyterian Church, Lincoln Downtown Rotary Club #14, Lincoln Lodge No. 19 A.F. & A.M., Bryan Foundation Board of Trustees, and many other community organizations.
On this episode, you will learn:
- Why all new clients for Andrew are baby boomers
- What you should do when you’re five years out from retirement
- The ideal time to talk about estate planning and when it’s too late
- The number one question that most people ask when they meet with Andrew
- What is probate?
- What is a revocable living trust and why it is important?
- Pending legislation in Nebraska that will affect families of farmers and land owners
- The downsides of creating a life estate
- The age that long-term care insurance is no longer an option