Trusts, Wills, and Proxies (Oh My!)

A health care proxy is a legal document that allows someone who you appoint to make medical decisions for you in the event that you are incapacitated. Typically a spouse, close friend or family member is appointed (someone who knows your health care values and you know will make medical decisions in your best interest and in line with your beliefs). Living wills are often included in health care proxies to enable your agent to make decisions on end of life matters. Working with an attorney can be the best way to navigate creating a health care proxy, as they can help you integrate this document into your complete estate plan.

A trust is a legal arrangement between you (the Grantor) who sets up a trust agreement which provides instructions on how the trusts assets shall be managed and distributed both during your life and at the time of your passing. You will always have successor trustees lined up, and you can create any number of flexible options in the trust agreement depending on your goals and circumstances.

The cost of setting up a trust or will depends on various factors.  What’s important to note is that there is a certain amount of time required to assess those factors, as well as to assess and establish legal requirements.  It’s all about planning that will be the most helpful for you and your loves ones and not cause problems down the road!  Even what may seem like a straightforward will has elements to it, including establishing “testamentary capacity”.  As well, even a will could have a “testamentary trust” within it.  Setting up a lifetime trust requires further planning.  Trust planning is all about planning to help you manage and protect assets and people into the future!  All this kind of assessment and planning obviously takes time.  The more “red flags”, “variables” and “factors” that come into play, the more depth your planning may require.   At Ruth P. George Law PLLC, we’ll work with you to create documents that provide peace of mind for you and your family, and can help you create the trust, will, or other estate planning documents that your situation requires. Contact Us to schedule a consultation where we can learn more details about your situation and give you a specific estimate for services based on your needs.

While the idea of creating a power of attorney document may seem simple and straightforward, the reality is that often it’s not.  A power of attorney document is one of the most powerful estate planning documents that can be set up with any number of powers for the agents.  These powers can literally “save the day” and change lives.  It takes time to learn about what the power of attorney means for any one person and how the agents named in the document may act, as well as how the document can be prepared to account for needs into the future.  If the document does not encompass all that may be needed into the future and you are not able to execute a new one, an adult guardianship proceeding is the only option to pursue.  An adult guardianship is a process that takes time, energy and money and may not ultimately provide for your goals.  A power of attorney is an incredible legal document that should be planned, created and executed with the utmost care.  We are always happy to meet with you for a consultation to discuss what your specific situation requires to give you an accurate estimate for this service, and we always strive to offer packaged services in the specific situations where it makes sense to make costs more affordable to you. While it’s tempting to use online forms, improperly executed powers of attorney can cause delays and confusion during emergencies. At Ruth P. George Law PLLC, we create your power of attorney understanding how important the legal document is and how the various legal standards must be adhered to.  Contact Us today to schedule a consultation where we can learn more about your situation and give you an accurate quote for the services you need.

A revocable living trust is a type of trust that provides for effective property management during your life and distributing assets at the time of your death. Even still, the trust can continue on as you desire to benefit loved ones. The fact that the trust is revocable is significant - This plays into what you want for yourself and how the trust can be useful.

There is no statute in New York State that provides for a living will, but there is a case that talks about the need to authorize another person to make end of life decisions. That case refers to having a written document, "something like a living will". The phrase "living will" actually stems from that court case, and the importance lies in that your agent will have an easier time showing this authority if there was ever a need. A living will provides this kind of documentary evidence that your agent can make these kinds of decisions.

YES!!! Do you want someone to be able to open your mail? Do you want someone to be able to pay your bills with your checks, if needed? Do you want someone to be able to act on your behalf to sign a deed if you are out of town for an extended period of time? These are just a few examples of the infinite value of having a well-thought out and properly executed power of attorney that even has considerations to plan for after the document is signed. This is all a part of effective estate planning. Lacking this document can have catastrophic effects on your financial affairs during life. 

Upon the death of one parent, the other parent automatically assumes full guardianship of any minor children. However, factors such as blended families, unmarried couples, single parents, having a disabled child, or situations where one parent has limited involvement are all reasons to make sure that the outcome of a parent's passing is crystal clear. Let us help walk you through it!

Planning for supporting a special needs child during your life and in the event of your death takes special and specific planning. This is critical in making sure that your child doesn't lose their government benefits like Social Security and/or Medicaid benefits. Tools for planning can include but aren't limited to a special needs trust, guardianship designation, letter of intent, and even potentially using life insurance to fund a trust. Working closely with an attorney experienced in special needs planning is critical for making sure that your hopes for your child are carried out after your death.

We may be a little biased, but absolutely. Trusts can help you avoid probate, protect assets from creditors, and can provide for your loved ones in a structured way. They’re particularly valuable for individuals and families with specific goals, certain circumstances and “red flags” where planning can mean all the difference! Even having real estate in a trust can be so helpful.  Part of trust planning is becoming more aware of the ways this planning can help you and your loved ones.  There is also follow-through to work on once a trust is in place which an attorney can help you with.  An attorney understanding trust planning can mean your trust is set up correctly to maximize benefits to you and your beneficiaries.

Writing a will has many considerations that might be best served working with an experienced attorney. Questions you might start asking yourself include "What assets and liabilities do I need to worry about?" "Who do I want to be my beneficiaries?" "Are there any special considerations to my situation that need to be taken into account?" and "Do I have kids, real estate, business interests or assets other than money that I need to think about?" Creating a will can be a little more challenging than you'd think. Feel free to contact us for help getting this process started!

As a New York State attorney, Ruth P. George offers legal services for New York State matters. Typically estate planning and the documents created in the process are handled for those within certain counties within New York State.

While DIY options are available, they are not without risk.  With the various factors that affect planning and the legal requirements that must be followed, creating a trust or will with an attorney can mean the critical difference in ensuring your wishes are followed.  Missing these factors and legal requirements are what cause problems down the road - these include quite a range!  These could be anything from not fleshing out next-of-kin information, to not properly handling minors or incapacitated beneficiaries, to improperly executed Power of Attorney documents, improper witnessing or notarization, and so on which can render your documents ineffective, invalid or cause litigation.  An attorney can ensure all of your documents meet legal standards and account for your unique circumstances, including blended families or special needs beneficiaries. Ready to create a legally sound trust or will? Give us a call or schedule a consultation at our Williamsville office!