Sheryll Law, P.C. Provides Designed Estate Planning Services For Long Island Residents.
Estate Planning Attorney in Long Island
The greatest blessing in life is to age gracefully and in good health. Although it’s the goal of most, maintaining good health isn’t always predictable. Consulting with an Estate Planning Attorney while all of your faculties are in order is the most ideal time to address the concerns and plan for your estate.
Special circumstances may call for the insights and careful considerations that only an experienced Estate Planning Attorney can add for your estate plan. Not all estate plans are created equal. Sheryll Law, P.C., designs estate plans that address all of our clients’ needs, from long-term health care to distributing assets.
What to Include in an Estate Plan
Estate plans are designed based on the client’s needs. However, most people require the common elements of an estate plan, including:
- Irrevocable or Revocable trusts
- Health Care Proxy
- HIPAA release forms
- Living Will
- Power of attorney
- Guardianship designations, if applicable
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Last Will And Testament
Proper planning through thoughtful dialogue with a qualified estate planning attorney can avoid the pitfalls of leaving your hard earned assets to be distributed by the probate courts. In a Last Will and Testament, you can define assets, name beneficiaries, assign guardians for your minor children, and appoint an executor to carry out your wishes. When considering estate planning, having a Will in place is the least you should do. However, an estate planning attorney might recommend other tools to help protect your assets and plan for long term care.
Trusts On Long Island
Trust funds are not just for the rich or famous. Trusts are common tools estate planning attorneys use to avoid probate and or protect assets from Medicaid. There are several options, including revocable and irrevocable trusts. A trust is funded with assets to provide probate avoidance and long term care planning benefits. Because the trust owns the property, it doesn’t have to go through probate and the beneficiaries receive their share right away. Your Estate Planning lawyer will discuss your options to protect your legacy and help you decide what type of trust is best for your situation.
Protect Your Health With An Estate Plan
Putting undue burden on your family and close friends is never anyone’s intention. With a little planning and thoughtfulness, these burdens are easily avoidable. Consulting with a local Estate Planning Attorney like Sheryll Law P.C. will provide guidance and address your estate planning needs. These estate plans typically include a Last Will and Testament, and advance directives, including a healthcare proxy in the event you become incapacitated. This planning can help avoid stressful situations like guardianship, court petitions and frantically planning for long term care planning, home health aides and nursing home care. Don’t bankrupt your estate or worse pass the financial burden on to those you care about the most, schedule a strategy session today.
Safeguard Your Finances With An Estate Plan
A power of attorney is called just that, a power of attorney for a reason. If you become incapacitated it’s important to have the right documents in place to help maintain and safeguard your finances, your children, and pay your bills. If necessary this document allows your selected agent to make decisions on your behalf so that big life decisions are not left to chance. If this document is not executed or not executed properly, it could trigger a lengthy court process.Creating a power of attorney as part of a thoughtful estate plan with the help of a qualified attorney can avoid confusion for those closest to you.