Creating a Healthcare Proxy
A healthcare proxy can be one of the most important documents you ever put together. By setting up a healthcare proxy, you appoint a person you trust to make healthcare decisions for you if you are ever incapacitated and unable to make your own decisions. When you have a proxy in place, you can give that person instructions on how you would want your medical care handled. Without a proxy, doctors and those around you may act in a way that is contrary to your wishes.
Designating Power of Attorney
A power of attorney is another critical document that can help in the event that you are unable to make key decisions. A power of attorney allows you to designate someone who can make legal and financial decisions for you if you are ever incapacitated or unable to make your own decisions.
A power of attorney can come in many forms, including.
- Durable power of attorney. A durable power of attorney is a long-term document that allows someone else to make decisions for you when you are unable to do so.
- Nondurable power of attorney. This document is limited in time. You would normally use a nondurable power of attorney for a particular decision or transaction.
- Springing power of attorney. Springing powers of attorney allow you to define a future set of circumstances where someone else would have power of attorney.
If you have questions about what type of power of attorney may fit your circumstances, schedule a free consultation with a lawyer from Chaves Perlowitz Luftig LLP now.
Protecting Your Assets with a Trust
Trusts are an excellent estate planning tool for protecting your assets. Trusts allow you to take action with your resources now, rather than when you pass away. You can use trusts to make decisions about your assets, name beneficiaries, avoid probate problems, and even protect certain assets from long-term care and nursing home costs.
The type and size of trust will depend on your needs and the governing law. Trusts are a flexible way to protect your estate and provide for those around you. Types of trusts include living trusts, which you can revoke before you pass away, and testamentary trusts, which are established by your will.
When you contact Chaves Perlowitz Luftig LLP, an NYC estate planning lawyer can review your goals and your assets and advise you on the best route to take. To discuss how you may incorporate trusts into your estate plan, schedule a free consultation today.
Talk to a Manhattan Estate Planning Attorney Now
Schedule a free consultation with the experienced Manhattan estate planning lawyers at Chaves Perlowitz Luftig LLP. Whether you are just starting the estate planning process or need to update your plan, our knowledgeable lawyers can help you meet your goals and ensure your plan is effective.
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