Wills include more than asset distribution after death

Wills include more than asset distribution after death

On Behalf of | Dec 23, 2019 | Wills

Too many people in New York are unprepared for what the future might have in store for them. Estate planning is not only for older people and those with significant wealth. Others, like single parents, newly enlisted soldiers and anyone who is working and earning money have excellent reasons for drafting wills and other documents. It can ensure that their wishes are clear, even when they can no longer express them.

Estate planning execution is not only triggered by death but also in the event of an incident that leaves a person alive but incapacitated. Such circumstances can leave a person unable to make decisions about medical and physical matters. However, with only a few adequately planned legal documents, anyone can ensure that his or her affairs are in order for all eventualities.

The standard tool for estate planning is a will for expressing wishes on how to distribute property at the testator’s death. However, a will is also the document that will designate a guardian for a disabled or minor child, along with unique circumstances of family members with special needs. Along with a last will and testament, a living will can be established to express wishes for end-of-life arrangements, making it a whole lot easier for surviving loved ones during a difficult time.

Two other valuable estate planning tools are powers of attorney for health care and finances, to make crucial decisions on behalf of an incapacitated or incompetent testator. Many younger people in New York find estate planning a daunting prospect, but help is available. A New York attorney with extensive experience in drafting wills and other estate planning documents to suit the client’s unique circumstances can provide the necessary support and guidance.

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