An Overview of Wills and Estate Planning
When a person dies, the distribution of property and other assets among their beneficiaries can be complex, especially if there was not a will in place at the time of the person’s death. But whether there is an official will or not, a verification process, called probate must be followed. Preparing a will ahead of time does make things easier, but regardless of where you are in the process of determining the conditions of a will, New York Attorney Matthew K. Tannenbaum can help.
New York City Wills and Estate Planning
When a person is in a position where they will be leaving something behind to beneficiaries, the more preplanning that can be done, the better. Attorney Matthew K. Tannenbaum works on these cases in both Suffolk County and Nassau County. Even if you live a relatively simple life, setting up your will and going through the process of estate planning may be more difficult than you think. Not only do you need to indicate who gets what, but you will need to name an executor to carry out the terms of your will.
In addition to financial matters, there may be additional considerations if you are a guardian of a minor child or an adult with special needs. As you start the process of planning your estate and setting up your will, Attorney Matthew K. Tannenbaum will be able to explain which of your assets are subject to probate, and which can be distributed to the beneficiaries right away.
Suffolk County and Nassau County Living Will and Power of Attorney
While it is important to make your wishes known in regards to how your property and any guardianship will be distributed upon your death, it is just as important to prepare for the possibility that you could continue living for a time when you are not considered fit to make appropriate decisions regarding your own care or the distribution of your assets and possessions. If you have named a durable Power of Attorney, that person can step in and make those decisions for you.
Whether you are responsible for your aging parents or you have adult children who are 18 years old or older, you want to be able to make medical decisions if the need arises. Without the proper paperwork in place, you may not have any rights to make decisions or even to be told about the condition of your loved one.