"Estate planning" in Glen Head refers to the decisions a person makes concerning what is to be done with their assets after their death, and the procedure of implementing those wishes.
The problems that estate planning raises are sometimes very complicated. Without competent legal and financial advice, many problems can pop up, which can quickly throw your entire plan into disarray, and cost your survivors a great deal of time, energy, and money.
Estate planning can have various positive effects on the planner during life, as well. These benefits are usually somewhat intangible, revolving around the peace of mind that comes with knowing that, after your death, you family will be taken care of and that they'll know what your last wishes are. Nonetheless, most people find this very valuable. To that end, you should come up with a power-of-attorney agreement. When you grant someone power of attorney, you have given them the power to make certain decisions on your behalf. You can grant them as much or as little authority as you want. Most individuals, however, give family members or life partners power of attorney with respect to medical care, so if they become incapacitated, their wishes will still be carried out.
A competent estate planner in Glen Head can make the procedure of planning your estate go much more smoothly, and maximize the chances of your wishes actually being carried out with legal force.
Common Features of Glen Head Estates
Will: This is usually a major component in any estate plan. A will is a document in which a person lays out what they want done with their property after their death. These gifts usually have the effect of transferring legal ownership of the property to the named beneficiary.
Living Will: This is a document which lays out instructions for your medical care, should you become so sick or badly injured that you are unable to express your wishes. It should state under what circumstances you want to remain on life support. A well-drafted living will can prevent you from being kept alive in a permanent vegetative state (if that is not what you want), while guaranteeing that you receive medical care as long as you have a chance at recovery.
Power of Attorney: Power of attorney allows you to grant someone else (usually a trusted family member or friend) the power to make certain decisions in your place, with the same legal effect as if you had made them yourself, in the event that you become unable to do so (usually due to mental or physical incapacity). If you decide to give someone power of attorney, you should make your wishes known to them in advance, so they are more likely to make the same decisions that you would make, if you were able to. And, of course, you should exclusively give this authority to someone with whom you would trust your life because that is, in some cases, just what you're doing.
Funeral Arrangements: Whatever your preference on this matter (if you have a preference) you should make it known to your family both verbally and in writing. If you have very particular wishes regarding the final disposition of your mortal remains, you should not put those instructions in your will. Or, if you do, you should also put them somewhere else. Wills are typically not read for quite some time after a person dies, and the funeral is usually long over by then, so it will be too late to follow your instructions.
Do I Need a Glen Head Estates Lawyer?
A flawed estate plan in Glen Head can result in those affected by it being confused as to your intent, which can then lead to disputes between them. A reputable attorney can often avoid this confusion by ensuring that there is as little ambiguity as possible in your will and other related documents.