Posted by: BlogMaster | February 20, 2011

Does Fear Have a Role in Seniors’ Estate and Elder Law Planning? – Part 3

Estate planning is important.

It requires New York State-specific drafted legal documents designed for your needs and your family’s, whether a Will with tax savings provisions, a special needs trust for a disabled family member, a New York power of attorney, a New York health care proxy, or a revocable or irrevocable living trust.

Your estate plan should never be a ‘cookie cutter’ plan. Start the process by selecting a personal estate and elder law planning attorney who has earned your confidence.

Of course, estate work is not the only solution sold with the Looseleaf plan hawked at ‘free’ seminars, as discussed in my last two blogs.

The documents in the Looseleaf often include a power of attorney for management of financial affairs if the senior becomes incapacitated.

It is important to know that since September 2009, New York State has had a very specific power of attorney law and form. Tailoring the authority of the agent under the power of attorney – i.e., the person who will act on your behalf if you become incapacitated or want help – involves a conversation with your trusted attorney about your particular financial and management future needs. This is not intended to be handled by a Looseleaf salesperson or a paralegal. You need someone who is trustworthy and trained to handle this matter.

You can find more information on these legal documents in my blogs on Oct. 13 and Nov. 17, 2010 at http://www.bpaelderlaw.com/. Click Law Blog and select these dates. Or, contact my office to schedule a legal consultation.

Please remember that fear has no place in establishing your best legal plan. Act responsibly on your own behalf and your family’s.

*** Photography by Jesse Abrahams ***

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