A living will is a document that sets forth your wishes concerning the extent of medical care you want to receive. It operates during your lifetime if you become unable to communicate your wishes at the time a healthcare decision…
In Do I Need a MOLST Form?, we discussed who might need a MOLST form and in which situations. Below we’ll discuss how a MOLST form is executed. There are certain medical requirements that need to be met in order…
A MOLST (Medical Orders for Life-Sustaining Treatment) form is a medical order form that tells healthcare providers a patient’s medical orders for life-sustaining treatment. The form includes medical orders and patient preferences regarding resuscitation instructions when the patient has no…
We often see clients with concerns about loved ones who receive government benefits such as Supplemental Security Income (SSI) and/or Medicaid. Since SSI and Medicaid have very strict rules as to how much money and how much income beneficiaries can…
What are the types of guardianship proceedings in New York State? There are three types of guardianship proceedings in New York State: Article 17 - Guardianship of minors. Article 17A - Guardianship of adult individuals with intellectual or developmental disabilities…
Recently, I was helping a couple with planning. Unfortunately, the husband passed away about two weeks ago. After he died, the family realized that he had one bank account that was in his name alone, with about $3,000 in it. They did not realize this before he passed, otherwise they would have taken care of it.
In order to avoid probate, you may decide to either place your home in a revocable trust or place someone you trust on the deed, creating joint ownership. Each of these options have their own pros and cons, but which is a better safeguard?
The power of attorney is a crucial estate planning document—it allows a third party to step in and make important financial decisions for you, if you are no longer able to make those decisions for yourself. Having a properly executed…
People often say that you only need an estate plan if you have a lot of money and/or a lot of assets. That statement is not necessarily true.
Reason 1: An estate plan is also important for medical and simple financial decisions, especially for a spouse in the event of disability or incapacity. It makes the entire process a lot more stress-free and simple for the spouse.
If something happens to me, my spouse will inherit everything I have anyway, so why do I need to make an estate plan?
When it is said that a person has died intestate, it means that they died without leaving a Last Will and Testament. A Last Will and Testament is among the documents we call, “the four must-have legal planning documents.” The other three documents include: Durable Power of Attorney, Health Care Proxy, and Living Will.
The purpose of a Last Will and Testament is to express your wishes and identify who is to receive your property and assets upon your passing. It is imperative to complete a Last Will and Testament if you want to have a say on who receives your assets when you are no longer with us.