Before making a contribution to a charitable organization, it is important to do a little background research to ensure your contribution is going to an organization that is in good standing with the IRS and eligible to receive tax deductible contributions. This information has always been available through the IRS website, but not through a streamlined search. In January 2012, the IRS introduced Exempt Organizations Select Check. The Select Check combines three publications into one, and allows you to verify the type of charitable organization you are donating to, whether contributions are tax deductible, and whether the organization still maintains their tax-exempt status. It is particularly important that an organization maintains tax-exempt status, as any contributions made to an organization after it has lost its exempt status are not tax deductible.

A Power of Attorney for financial matters can be one of the most important documents in your estate plan, and is certainly the cornerstone of planning for a disability. A Power of Attorney is a legal document that allows you, the principal, to give another person, the Attorney-in-Fact, the right to manage, invest, and spend your assets. A Power of Attorney is often Durable, meaning that it goes into effect as soon as it is signed, and will continue to be in effect if the principal becomes mentally incompetent and cannot manage his or her own financial affairs.

Your Attorney-in-Fact will be authorized to act on your behalf regarding only the matters that are clearly outlined in the Power of Attorney. These powers typically relate to financial matters, including investing assets and managing real estate, and do not include the right to make health care decisions. A Power of Attorney may be revoked at any time by the principal, and will terminate automatically at the death of the principal. A Durable Power of Attorney can be a valuable tool in managing your financial affairs in the event you can no longer do so for yourself.