No. There is no central data base for us to access a person’s financial records with a social security number, but there are ways we can locate the assets.
Not necessarily. The answer depends on whether they have titled assets, the terms of the Will, or other factors.
The simple answer would be that your estate plan needs to be updated whenever there is a major change in your life, such as buying a new house, having a baby, or if the person you left in charge of your estate has passed away or become ill.
A Guardian is a court appointed person that deals with an incapacitated individual’s day to day decisions. While a Conservator is a court appointed person that deals with an incapacitated individual’s finances.
If you have a Durable Power of Attorney and Health Care Power of Attorney you do not need a Guardian or Conservator, but there are reasons why one may be necessary.