Estate Planning and Elder Law is a very specific area of law, which includes planning for present and future financial and healthcare needs. Estate Planning with an attorney who understands Elder Law enhances every client’s plans.
Such planning may include:
- Powers of Attorney A legal document that allows you (the “principal”) to designate an agent to make financial decisions. A “durable power of attorney” is effective upon execution and remains in effect throughout a principal’s incapacity. This is the most commonly used power of attorney in New York State, generally because it encompasses many contingencies.
- Health Care Proxy A legal document used to designate an agent to make your medical decisions if and when you are unable to make them for yourself.
- Guardianship A legal proceeding used by a concerned individual to become the legal guardian of an incapacitated person who did not engage in sufficient planning with financial management and health care decision-making prior to his or her incapacity.
- Long-Term Care and Medicaid Planning to meet the rising costs of home care and nursing home care without exhausting assets. It is used to assist individuals to become eligible for Medicaid benefits through proper gifting and asset transfers.
- Estate Planning using Wills and Trusts A Will is a written declaration of your wishes for the disposition of your property that takes effect upon death. In addition, it may 1) create trusts for the benefit of domestic partners, children, disabled individuals or pets, 2) designate a guardian for minor children and 3) appoint an individual to supervise the settlement of your estate (an “executor”). The goal of estate planning is to maximize the assets left to your intended beneficiaries in accordance with your intentions and limitations.
- Estate Administration to address the complex needs of our clients after the death of a loved one.