The current state of the world has us all a little on edge, but it has also put the spotlight on how critical it is to get your affairs in order, regardless of your age. The Deni Law Group, LLC is still operating and able to complete all of your needed Estate Planning documents. We are accepting new clients who require these documents quickly and can be done virtually. An explanation of the most common documents are as follows:
- Last Will and Testament: Most clients assume they only need a Last Will and Testament if they are elderly or if they are wealthy, but there is nothing further from the truth. If you pass away unexpectedly and leave no Will, the Court decides who makes decisions about your affairs including everything from your funeral arrangements (whether you are buried or cremated) to who will care for your children. While we often think of Estate planning for those who are trying to avoid Estate taxes and are willing to spend thousands of dollars to plan accordingly, but a simple Will drafted to ensure an individual’s wishes are carried out upon their death is more affordable that you might think.
- Power of Attorney: A Power of Attorney is a document which enables another individual to pay your bills and make basic financial decisions for you if you are ever unable to do so. This document can be effective immediately when it is signed, or it can be effective only when a doctor says you are incapacitated. Again, many clients assume that only the elderly need a Power of Attorney. But what happens if you are in a car accident and in the hospital? Dealing with banks to make sure simple bills, such as the rent or the mortgage, are paid when you are hospitalized can add a significant amount of stress to your life. That is why, no matter what your age, having a Power of Attorney is always a sound decision.
- Medical Power of Attorney: Most of us have gone to the hospital and been asked to sign a form expressing our wishes before surgery. But have you ever thought about the implications of these simple forms? Medical decisions and procedures are incredibly complex and yet we expect doctors to follow a three or four question form about our wishes when making life or death decisions about our care. This oversimplification can have dire consequences in practice. A Medical Power of Attorney allows our clients to select a trusted friend or family member to make medical decisions, in consultation with the client’s doctor, about their medical care.
Your Estate plan can be very simple and inexpensive or it may require deeper discussion about Trusts and other scenarios unique to your family and financial situation. We are here to help you identify what you may need. Please call to set up a consultation with Marisa Baker Trofimov, Esq. at The Deni Law Group (908)782-2900.