Wills, Trusts & Estate Planning
Planning for your future should involve
a solid estate plan which includes a carefully drafted
Will and other advance directives to protect you and
your family in the event of your incapacity or death.
If a person plans well, his or her estate can be passed
on after death quickly, easily, and subject to fewer
taxes.
A New York Will allows you to exercise
power and control over how your assets are to be distributed
and to select the person who you want to handle your
affairs after your death. Should you die without a
Will, New York State law will determine how your assets
will be distributed. This distribution may not be
what you would wish for.
For parents of young children, it is
important to choose and name Guardians in their Wills
who will be legally responsible to care for their
children should there be no surviving parent. Without
a named Guardian, the probate court would appoint
a legal Guardian who may not be the preferred choice
of the children's parents.
When your Will is drafted,
it is standard for us also to prepare a Durable Power
of Attorney, Health Care Proxy and Living Will.
A Durable Power of Attorney aids in
planning for your incapacity. A Power of Attorney
allows another person to have full legal authority
to act on your behalf should you become unable to
attend to your own personal and financial affairs.
A Health Care Proxy is a legal document
in which you can appoint someone you choose to make
decisions for you with regard to your health care
options if you are unable to make the decisions for
yourself.
A Living Will allows you to specify
in detail the terms of medical treatment that you
do or do not wish to have in the event of your incapacity,
such as withholding life support and artificial nutrition
when you are terminally ill.
A person's estate consists of all his
or her property and possessions. The McHugh Law Firm,
P.C. will help you to plan for the future and draft
the appropriate documents to ensure that your wishes
are carried out in the event that you pass away or
are incapacitated.
Probate
Probate courts administer the disposition of property,
and appoint Guardians for minors and Conservators
for incapacitated adults.
In probate, the court supervises the
transfer of legal title from the deceased to the people
specified in his or her Will. If the deceased left
no Will, the property will be distributed to heirs
according to the New York State intestate succession
laws.
Probate can be a complicated process.
If a close friend or relative has died recently, consider
meeting with one of our attorneys to discuss your
legal issues. Having an attorney involved ensures
that the probating of the Will is properly done and
allows you to concentrate on truly more important
things after a loved one’s death.
Contact us about
your legal matter today! |