Personalized Estate Planning

Depending on your age, the size of your estate, your family structure, your health and that of your beneficiaries, these documents will play a major role in achieving your Estate Planning goals.  I  will work with you to determine which documents are best suited to achieve your goals.  All consultations are free, and the following issues can be discussed.

Last Will and Testament and Probate

Your Will has two primary purposes. First, parents of minor children can name a guardian to care of those children in the future. Second, a Will lets you determine how your assets will be distributed.  Without a will, New York State will make these decisions for you. The only way to have peace of mind about your children and your assets is to create a Will. Upon your passing, your Last Will & Testament will be admitted to Probate whereupon the Court will appoint an Executor of your Estate. The Executor is then responsible for administering your estate according to your Will.

Trusts

Trusts are among the most effective estate planning tools. They help you avoid probate and accomplish many other estate planning and asset preservation goals.  A Trust is a legal entity that an individual creates during their life or upon their death. The trust can own assets such as a home, bank or brokerage account, CD or life insurance policy. There are several kinds of trusts, and each serves a slightly different purpose.

Powers of Attorney

A Power of Attorney is a document by which the Principal (you), appoint an Agent, to manage your financial matters immediately or at some future time. A Power of Attorney can be broad or restricted to a specific transaction. All Powers of Attorney expire at death. Powers of Attorney can give as much, or as little, authority to the Agent as you deem appropriate. Since illness or accidents may strike at any time, each of us should have a Power of Attorney to ensure that our financial matters are addressed and to avoid the expense and emotional trauma of a guardianship proceeding.

Health Care Proxies

A Health Care Proxy is a formal designation of another person to act as your agent in making health-care decisions for you, if you are incapable of communicating your wishes. These are decisions concerning diagnosis, treatment, services and procedures relative to your physical or mental well-being and may include whether to continue or terminate life-sustaining treatment.  Each of us should be protected by a Health Care Proxy.

Even after you have appointed an Agent, you have the right to continue making health care decisions for yourself for as long as you are able to do so. Your Agent does not begin making your health-care decisions until you can no longer communicate or your doctor determines that your decision-making is impaired.

Living Wills

A Living Will is a recommended supplement to a valid health care proxy. A Living Will expresses, in writing, your most significant health-care decisions and end of life decisions as a guide for your designated Agent. Because the State of New York recognizes Living Wills, they are useful to a Court if a question later arises as to whether the health-care decisions of your Agent are consistent with your wishes. Living wills, along with health care proxies and powers of attorney are considered to be advanced directives.