What exactly does a Will do?
Often the centerpiece of estate planning, your Will is the legal document that details how your property or inheritance will be distributed upon your death. Property listed in a Will may require oversight by a probate court. In New York, probating a will can be costly and/or burdensome, planning ahead is important. Estate planning is the most effective way to distribute assets to your beneficiaries with minimal time and expense.
What is a living trust?
A living trust is a legal document that allows you to transfer property into trust while you are still living. You have control over the trust with the ability to make changes as needed. Property distributed via a living trust is generally not subject to the probate process.
Our attorneys at Vernon and Associates P.C. can help you design a worry-free will or revocable “living” trust. Contact us today to schedule an appointment.
Durable Powers of Attorney
Do you want to choose who acts on your behalf in the event of a disabling personal event?
Durable powers of attorney allow you to choose an agent to act on your behalf in the case of future incapacity or temporary absence. A durable power of attorney authorizes another person (your agent) to make financial decisions on your behalf. These can include transacting business, transferring real estate, or simply paying bills.
Durable powers of attorney are extremely useful estate planning tools, but must be used wisely. Your agent should always be chosen with care and consideration.
Health Care Proxy
Every patient should have an agent, appointed under a Health Care Proxy, who can assist and advocate for them when dealing with health care providers. Our attorneys can draft these documents and also assist you with Advance Directives, commonly known a “living wills” to direct your end of life decisions.