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A Quick Guide to Estate Planning Fundamentals June 1, 2018

Bronx, New York City, NY
A Quick Guide to Estate Planning Fundamentals, Bronx, New York

Estate planning is crucial to protect the people and assets you value most, but it also means contemplating some worst-case scenarios. In addition to writing a will, you should also decide what should happen if you’re unable to make your own health care decisions. An experienced estate attorney can make the entire process easier – here is a guide to what to consider as you enter into this challenging process

A Guide to the Basics of Estate Planning

What Should You Include in Your Estate Plan?

estate attorneyAt a minimum, your estate plan should have a vehicle for distributing your assets, either a standard will or living trust. A will merely instructs who should get your belongings after you pass away, while a trust is a separate legal entity that provides far more control over the use and distribution of your assets. After reviewing your situation, a skilled estate attorney will help decide the best approach.

Why You Need a Living Will

If you’re unconscious or disabled, how will you communicate your wishes regarding medical treatment? A medical directive or living will allows you to leave detailed instructions, including consent to specific procedures, what outcomes are acceptable, and even personal grooming preferences. These documents help avoid conflicts between your family members over the decisions that affect your health and care.

Empower Those You Trust to Act on Your Behalf

Your spouse or business partners may not always be the best people to manage your affairs if you become physically or mentally disabled. To give the people you trust legal authority to act on your behalf, ask your estate attorney about drawing up durable powers of attorney, which you can tailor to your unique situation.


 

If you need an estate attorney with a long-standing reputation for high-quality work and effective legal advice, turn to Stephen B. Kaufman, P.C. As one of the Bronx’s most established lawyers, he’s been helping people throughout the community navigate the legal system for over 40 years. Visit his website or call (718) 822-0500 now to schedule a free consultation, and follow his Facebook for more advice and legal tips.

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