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Asked 659 days ago by a user from Kansas City, KS
1. In filling out the Unlimited Durable Power of Attorney - when asked to name the "Attorney-in-Fact" can 2 names be put on this line (exp: John and/or Jane Doe)? Or does the 2nd "Attorney -in-Fact" need to be listed on a separate line? The reason for this question is my husband is the first named and I would be the second. However, since he works full time it is very difficult for him to make phone calls regarding his VA and pension benefits, etc.. If we are listed on separate lines, would I be able to make the phone calls needed?
2. Does he need a will? His home is already in his wife and daughter's names and his vehicle is titled in both my father-in-law and my husband's names. We know that the DPA ends when he is deceased, but we aren't sure about the vehicle or any other personal items (no real estate). We know that he wants his wife to be the beneficiary on any VA and pension benefits and the vehicle to be used to take care of her as she does not drive. If he doesn't have a will on file, will things go into probate? Since his name is not on the home and he does need a will, do we need to worry about mentioning the home in the will?
3. Executor- does he need to assign an executor? If so, will the executor then be personably responsible for any unpaid medical bills or other debts my father-in-law may have (exp: If a bill isn't paid because there is no money in his estate will the Executor be responsible for it)?
4. What is the difference between a Trust and a Will?