WILLS, TRUSTS AND ADVANCE DIRECTIVES
If you have not yet created an estate plan, the New York Estates, Powers and Trusts Law (EPTL) may have created an estate plan for you. This plan may not be one that you like or one that is appropriate given your circumstances. Therefore, it is important to create a plan of your own.
CREATING AN ESTATE PLAN
Creating an estate plan is a process that requires gathering information about you, your family, and any concerns or goals you may have. A few questions that I will ask you, to assist in creating an estate plan that is customized to address your needs, include the following:
- Do you wish to provide for and protect your spouse?
- Do you wish to provide for and protect your children?
- Does your spouse or child have a disability?
- Do you wish to protect your child’s inheritance from the possibility of a divorce?
- Do you wish to avoid probate or to keep your estate matters private?
- Do you have preferences with regard to artificial nutrition and hydration?
- Do you have prepaid funeral arrangements?
- Do you wish to be cremated?
ESTATE PLANNING DOCUMENTS
Documents used to create your estate plan may include the following:
- Last Will and Testament
- Revocable Trust
- Irrevocable Trust
- Power of Attorney
- Health Care Proxy
- Appointment of Agent to Control Disposition of Remains
- Supplemental Needs Trust
- Pet Trust