Issues to Consider When Evaluating the Need for a New or Revised Will / Estate Planning Documents

As spring rolls around and we get ready for warmer weather, our thoughts turn to spring cleaning. Take this time to clean up your current estate planning documents and determine if they need to be revised. It is suggested that your estate planning documents be reviewed every five years to make sure they still comply with your wishes. If any of the categories listed below apply to you, it may be a good idea to embrace the season and make the necessary changes to your Last Will and Testament, Living Will/Health Care Proxy or Power of Attorney documents. (more…)

Tags: credit shelter trust, disclaimer trust, guardianship, health care proxy, last will and testament, living will, power of attorney, supplemental needs trust, will

In March of this year, Governor Paterson signed into law the Family Health Care Decisions Act (FHCDA). The law allows family members to make medical decisions, including decisions about withholding or ending life-sustaining treatment, on behalf of individuals who have lost their ability to make such decisions and have not prepared advance health care directives (such as a Health Care Proxy or Living Will). (more…)

Tags: Family Health Care Decisions Act, FHCDA, health care proxy, living wills

Linda Grear discusses important Estate Planning Documents.  She goes into detail about why you should prepare Last Will and Testament, Power of Attorney, and Health Care Directive.

Tags: Estate Planning, Health Care Directive, health care proxy, last will and testament, power of attorney

A Power of Attorney is an important document that allows you (“the principal”) to appoint an agent to make decisions concerning your legal and financial matters in the event you are unable to do so for yourself. If you have not executed a Power of Attorney document and you become incapacitated, a guardianship court proceeding will be required to authorize someone to make legal decisions on your behalf. A guardianship proceeding can take several months and cost several thousand dollars to complete. The good news is that creation of a valid Power of Attorney can avoid the necessity of a guardianship proceeding. As such, the execution of a Power of Attorney document is a very important estate planning tool. (more…)

Tags: chapter 644 of the laws of 2008, general obligations law, health care proxy, health insurance portability and accountability act, hipaa, power of attorney

Over 100 Million American adults have not designated an agent to make medical decisions or documented the type of care they desire. Although it can be a difficult issue to tackle, it is important for all adults to think about who would make certain medical decisions for them in the event they were too sick to convey their wishes personally. In some cases, the individuals assume that their spouses or children can step in and take over the medical decision-making. However, New York is one of a few states that do not (more…)

Tags: health care agent, health care proxy, living will

EVALUATING THE NEED FOR NEW OR REVISED ESTATE PLANNING DOCUMENTS

Given the current state of the world economy and recent local events, many of our clients have expressed a desire get their financial and household business matters in order. There are three basic estate planning documents that all individuals should consider when planning and organizing a life plan strategy, although the specific content of those documents will differ by personal circumstances. (more…)

Tags: credit shelter trust, disclaimer trust, Estate Planning, guardian, health care proxy, last will and testament, life plan strategy, living will, power of attorney