Estate Planning Services

The Importance of a Solid Estate Plan

Most people would agree that as responsible adults, it is important to contemplate our future passing and provide for such things as the orderly distribution of our assets, payment of our final debts, and otherwise provide for our loved ones, including setting up guardianships and trusts for our minor children.

Although it can be difficult to think about, it is important to have a solid, comprehensive estate plan to ensure that your wishes regarding the care and support of your family, the passing of your assets, and the appointment of certain fiduciaries (executors, trustees, guardians, etc.,) are known and required to be followed, when you are no longer here.

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At The Law Office Of Kevin G. Caslin, we believe a good estate plan should consist of the following:

A. A Will. A Will is a document which allows for the inheritance of your property in the event of your death. The Will should also have an executor, that is, the person to carry out the terms of the Will. A Will can provide trusts which can be useful for various reasons and your preference for a guardian of your minor children. It is important that you have competent legal counsel to help you to prepare the Will. Know that Attorney Caslin will meet with you for an in-depth review of your choices and after reviewing your specific situation, will prepare a Will in accordance with that conference. It is important that an attorney is involved with the drafting and execution of the Will to make sure that it is a legally enforceable document, which in turn makes it unlikely to be challenged. There are strict dictates under New York law regarding the proper execution of a Will, including requirements for the witnessing of the execution of the Will

B. A Power of Attorney. A Power of Attorney document allows you to appoint someone, usually a spouse or other trusted person, to have the authority to tend to business affairs in your name, such as tending to banking transactions, real estate transactions, selling or buying assets in your name, including the authority to sign your name to legal documents, binding you to those documents. New York State has strict requirements for the form to be used, especially if you may want your agent (the person you are appointing) to have the authority to make gifts, which can be an important tool in planning for long-term nursing home care. A Power of Attorney is also important should you ever become incompetent or comatose since someone will need to conduct your affairs for you. The document removes the need for a costly appointment procedure for a Special Guardian

C. Health Care Proxy. The Power of Attorney does not give your agent the authority to make health care decisions for you if you are unable to, but New York has provided for another document that can, and it is called the Health Care Proxy. This document allows someone you chose to make care-related decisions, including the decision to withhold life support if there is no expectation of recovery. The form can also be drafted to allow HIPAA authority and to address organ and tissue donation.

D. A Living Will. Attorney Caslin also prefers to prepare a Living Will since the Health Care Proxy is a New York State-approved form and may not be honored in other states. A Living Will, which states your intent if you are not able to make health care decisions, would most likely be honored anywhere