Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]
Estate Planning – Not Just for Death
I’ve said it before and I’ll say it again: there are four essential documents that EVERYONE should have – and the Wall Street Journal agrees.
This is not only about having your wishes carried out, but also about making things easier on your loved ones when they are faced with hard decisions.
- A Will: If You Don’t Have One, Decisions Will Be Left Up to the Courts.
And given that you don’t have a personal relationship with the courts, the likelihood they’ll allocate things the way you would have liked is probably slim. If you have a canned will from an online source, beware – small details can invalidate a will.
- A Durable Power of Attorney: Someone Needs to Manage Your Money If You Can’t.
If you become incapacitated, the person you name as your durable power of attorney is appointed to make legal decisions for you – and financial ones. Make sure you base your choice on reason and not just emotion, because your estate is at stake.
- A Medical Power of Attorney: Someone Needs to Make Major Medical Decisions If You’re Incapacitated.
Consider somebody who will be able to stay calm and make rational decisions. Preferably someone you have had honest discussions with about your wishes.
- An Advanced Directive or Living Will:Dictate Your Life or Death Decisions Before Someone Else Has to Choose.
If something were to happen to you, would you want to be resuscitated? Kept alive through artificial breathing or feeding? This decision may differ depending on whether you are ill or perfectly healthy, but either way, it isn’t fair to leave those choices in the hands of your loved ones when they are facing a tragedy. Make your decisions–and then make sure your loved ones and doctors know about them.
Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram
