The Natural Objects of One's Bounty - III

This article is the third part of a three-part series describing the traditional names for the various members of one's family.

Beneficiaries -- Issues in Choosing Professional Advisers

A beneficiary should ask himself whether he wants to (or can) tend to the estate himself or whether he would rather delegate the responsibility to someone else. The larger the inheritance, the more likely a beneficiary will need professional advice. A six-figure inheritance or greater will probably change many things in a beneficiary's life and he will need good advice for these changes.

Gifts During Life - I

An intentional transfer of property made from the generosity of the transferor is known as a gift. The person who makes a gift is known as the donor. The person who receives a gift is known as the donee.

Choosing a Healthcare Power of Attorney

Like a durable power of attorney for financial decisions, a healthcare power of attorney permits you to name a medical proxy to make healthcare decisions on your behalf when you are no longer able to do so for yourself. Similar to a living will, a healthcare power of attorney can specify what kinds of measures you want taken. You should be aware that states have different names for the same healthcare power of attorney, including medical directive, directive to physicians, declaration regarding health care, designation of health care surrogate, and patient advocate designation.

Voting Trusts

The special purpose served with a voting trust is to transfer the right to vote shares of stock without losing control of the stock itself or any other rights associated with it, such as appreciation, dividends, or other distributions. The voting trust is most often used with closely held companies where it is deemed advisable to allow one or more specific individuals to vote the stock. It is the trustee of the voting trust who is entitled to vote the stock held in the trust, and thus the individuals who are to have the vote will be appointed as the trustees of the voting trust.