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Estate Planning for Singles 101: Abuses are common!

Depending on the language of the power of attorney, your agent may be able to change the ownership of your bank accounts or change your beneficiary designations. This is a common scenario in second marriages. The transfer often occurs just before the spouse passes away, typically when the husband is dying in the hospital. For example, if the husband’s will leaves some of his large bank accounts to his children from his first marriage, the second wife, acting under a power of attorney, can add herself as a joint owner of the account. When the husband dies, the second spouse is the surviving joint owner and liquidates the account. There is no need to probate the will for the bank account and the children never receive their share of their father’s money. It happens a lot. Siblings use it a lot too, to direct mom’s assets away from their brother or sister.

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Pat Gilley explains her background and her fight for equality with Focus SB!

Hello friends, neighbors, and fellow residents of the SB area. John Settle has given me this opportunity to introduce myself as one of his newest reporters. My family and I have been residents of Shreveport since 1986 when my husband was transferred to BAFB.. We bought a home (the same one we still live in), joined one of the local Catholic churches, got our kids into local schools, had another baby and made this our 'new' home. At each of his assignments we bought a home and immersed ourselves in the activities of our new community.

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The Inquisitor

1915 Citizens Bank Drive
Bossier City, LA. 71111
(318) 929-5152