Basic Estate Planning

New York Will, Power of Attorney, Health Care Proxy Law Firm

Last Will and Testament

A Last Will and Testament is a document expressing your wishes as to how you want your estate distributed at the time of your death. A Will only applies to those assets which are solely in your own name at the time of your death and only to those assets which do not already have a designated beneficiary.

WHAT IS PROBATE?

Probate is a judicial proceeding to determine the validity of your Will and to carry out the terms of your Will. The need for judicial involvement can cause delay and unnecessary expense. Also, during this process, your creditors are afforded an opportunity to file claims against your estate.

A WILL DOES NOT PROTECT YOUR LIFE SAVINGS IN THE EVENT OF A CATASTROPHIC ILLNESS

A Will does not protect your assets. A Will can only leave what you own on your death. If your life savings has been depleted by a catastrophic illness, then your Will would become a well intentioned but meaningless document.

POWER OF ATTORNEY

A Power of Attorney is an important legal document where you give a person the legal authority to handle your finances and make other business decisions on your behalf. If you become incapacitated in the future and have not signed a Power of Attorney, then a Guardianship proceeding might become necessary.

New York State has a "Statutory Form" which contains many important powers. This form was recently revised in January 1997. This new version contains many additional important powers, such as the power to file tax returns on your behalf.

The Koldin Law Center, P.C. has prepared an enhanced version of the Statutory form which provides additional powers that we feel are important if a catastrophic illness occurs, including reference to the HIPAA privacy laws.

HEALTH CARE PROXY

A Health Care Proxy designates someone to make medical decisions in your behalf in the event you become incapacitated. If properly drafted, the Proxy should include the authority to carry out your wishes regarding the removal of life support machines, feeding tubes and hydration. The Koldin Law Center is available to review your wishes regarding end of life decisions.

At the Koldin Law Center, P.C. with offices in Syracuse and Rochester, New York, our goal is to protect our clients' assets in compliance with the Medicaid rules and regulations. Our attorneys handle a wide variety of estate planning services from appointment of powers of attorney to establishing health care proxies. We represent individuals and family members with long-term illness in Monroe and Onondaga counties and throughout upstate New York.

Our lawyers have over 30 years of experience providing personal service and professional legal counsel to every one of our clients. If you are in need of a New York law firm to answer your questions and concerns regarding trusts, contact us to schedule a free initial consultation.