Every person who lives in New York State dies in one of two ways: with a Will (testate) or without a Will (intestate).

If a person dies with a Will, that decedent leaves a document directing the disposition of what they own and naming a person to administer their estate (the Executor).  A Will can name a guardian for a child of the person signing the Will (the Testator), in case the child’s parents are deceased. It can provide for special administration of property for the benefit of a child or a disabled person. (more…)

Tags: intestate, last will and testament, living will, testate, testator, will

April 16, 2012 is “National Healthcare Decisions Day.” It is a day set aside to educate the public about the importance of health care planning and to encourage people to express their personal wishes regarding health care, in writing, before a health care crisis occurs.

Over 100 million American adults have not designated an agent to make medical decisions nor documented the type of medical care they desire. Although it is a difficult issue to address, it is important for adults of all ages and stages of life to consider who is best-suited to make medical decisions for them in the event they become too ill speak for themselves and convey their own wishes. Without such directives, these important decisions and related matters may be left to the control of medical professionals, estranged or inappropriate family members or even the Court, all of whom may know little to nothing about you, your values and morals, or your overall wishes. (more…)

Tags: Family Health Care Decisions Act, FHCDA, health care agent, health care proxy, living will, National Healthcare Decisions Day

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

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