Attention: New York State Residents
· Who Will Care For Your Minor Children If You And Your Wife Suffer
A Common Disaster?
· What Can You Do To Avoid Unnecessary Estate Tax?
· Can You Legally Leave A Child Out Of Your Will?
Every year in the news you hear about heart wrenching accidents where young couples are the victims of a premature death. What you seldom hear is the continued stress on the family and children who must legally seek recourse as to who is to care for the minor children and who will manage the funds necessary for their education, health and needs.
Approximately 70% of all adults do not have a Last Will and Testament. Are you one of them?
If yes, then after your death, the State will determine who will care for the needs of your children.
The problem is that New York State does not know your family dynamics, who would be your personal choice as a guardian for your children and who is best equipped to be the Trustee over your estate assets. In addition the State will release all the estate assets when your child turns 18 years of age.
Don’t leave these important choices to chance; consider getting a Last Will and Testament drafted on your behalf.
What is it?: A Last Will and Testament is a flexible document that allows you to declare how you wish your property to be disposed of after death.
A will can dictate:
- who should raise your children,
- at what age your children are mature enough to receive your estate assets
- who should manage your money for the betterment of your children
- whether you want any monies to go to charities, your grandchildren or someone else.
- a way to minimize or avoid estate taxes.
- who should be your executor to marshal your assets, pay your debts and distribute your money.
Health Care Proxy and Living Will
Will You Allow Yourself To Be Kept Alive By Artificial Respiration And Hydration If There Is No Expectations Of Ever Regaining A Meaningful Quality Of Life?
What is it?: If you are unable to make health care decisions on your own behalf, hospitals are directed to keep you alive by any means available. This can cause long term pain and suffering for your family members, not to mention the potential financial drain.
A simple document such as a Health Care Proxy can help avoid drawn out legal battles needed to get an agent chosen to make health care decisions for you; an agent that can demand that artificial respiration and hydration be stopped.
What is it?: A Living Will can direct your agent and your doctors how you wish to be treated in the event you cannot express it yourself. It allows you to refuse artificial respiration and nutrition in the event there is no meaningful expectation of a normal life.
Durable General Power Of Attorney
Who Will Pay Your Bills If You Are Unable To Do It Yourself?
What is it?: Similar to a Health Care Proxy, a Power of Attorney can help avoid legal proceedings needed to get a guardian elected to take care of your financial needs. You can choose a person you trust to handle your financial needs and make financial decisions on your behalf.
Put Your Affairs In Order – Get The Core Documents Necessary For You To Provide The Type Of Future You Envision For Your Children If You Are Not Around.
Call the Law Office of Craig A. Andreoli, P.C. for a complimentary consultation. We can help advise you as to what, if any, estate planning documents you may need to achieve your estate planning goals.
