Experienced New York Trusts and Estates Attorneys
Estate Planning Process
We can help you create a will that reflects your desires, protects your loved ones and minimizes estate taxes. To prepare your will, you need to identify the persons who will act as your Executor and Successor Executor and manage the affairs of your estate, and the plan for the distribution of your property, both real and personal. If you have minor children, you will also need to name the person or persons who will serve as the children’s Guardian in the event that no parent survives. Consideration may also be given to the establishment of a credit shelter trust in order to minimize estate taxes and a trust to hold property passing to minor children for a period of time.
In conjunction with the preparation of a will, consideraton should also be given to the preparation of a Durable Power of Attorney, Health Care Proxy and Living Will. The Durable Power of Attorney is a document in which you empower another person or persons (often a spouse and children) to act as your agent and manage your financial affairs and property. The Durable Power of Attorney is very important in the event that an incident occurs which renders a person incapable of handling his or her own affairs. Contrary to a belief held by many persons, one spouse does not have the authority to sign legal papers on behalf of an incapacitated spouse unless the well spouse is acting pursuant to a Durable Power of Attorney or has been named a Guardian for the incapacitated spouse. The Health Care Proxy is like the Durable Power of Attorney except that it pertains to health care matters. In the Health Care Proxy, you name a person as your agent to make health care decisions for you when you are not able, or no longer able, to make decisions for yourself. You may name successor agents but you are not able to name co-agents because of the lack of clarity that could arise between co-agents. The Living Will also relates to health care issues. The Living Will is a document in which you state, in essence, that you do not wish to receive extraordinary medical care in the event you have a medical condition in which you have no quality of life and there is no reasonable expectation that you can regain quality of life.
Our attorneys apply their extensive knowledge about the New York probate court to guide you through the complex process of probating a will. We assist executors in all steps of the process, including:
Contact the meticulous estate planning lawyers at Tuths & Tuths
Call Tuths & Tuths at 631-287-0018 or contact us online to schedule your initial consultation.