Will and Estate Planning Attorney on Long Island
Will and estate planning are important factors in life, but it can be tricky to navigate them without some help from a trusted attorney. Don’t worry, because Elsie Acevedo Attorney at Law can help you draw up a plan that addresses your concerns. Ms Acevedo has experience in the following areas:
Most people should have a will. A will can distribute property, name an executor, name guardians for children, forgive debts and much more. It also means that the owner can decide who gets the property when there is a death. Without a will, the decision is left up to the state, which is less than ideal for all involved. A lot is riding on the particulars of a will, so it is crucial that it is completed to the letter of the law. Get comprehensive will and estate planning in Suffolk County, New York when you turn to Ms Acevedo.
What Goes into a Will?
The actual details in a will ultimately depends on the size and value of the estate in question. However, these basic four items should be addressed in any will.
Identification of Assets and Beneficiaries
Choose which assets and property to designate to which beneficiaries. These assets include any item in your possession that holds monetary value. And the beneficiaries are any individuals or organizations that you wish to leave assets to. Many people also include alternate beneficiaries in case the beneficiaries pass before the will is executed.
Executor Appointment
In the will, there will be specification of an executor of the estate. This person ensures that your Last Will is executed as you instructed.
Guardianship Appointment
If you have any guardians, you will appoint a Guardian of the Estate to care for your dependents and their assets. In the will, you can also designate someone to be responsible for your pets.
Debts
You can designate how you wish any outstanding debts to be paid, as well as whether you cancel any debts owed to you by other parties.
Estate Planning Documents to Create
On top of having your will in order, it can be beneficial to also have these additional estate planning documents.
- Living Will: A living will is a type of advanced directive that will specify your medical preferences in the instance you experience an incapacitating event. A living will only comes into play when a person is unable to make medical decisions on their own. Some commonly addressed topics in a living will include hospitalization, nursing home care, pain management, resuscitation, ventilation, organ donation, surgical treatments, tube feeding and the use of antibiotics.
- Power of Attorney: There are two types of powers of attorney: medical and durable. Medical powers will grant full responsibility for all medical decisions. And durable powers will grant full responsibility for financial, legal and business decisions.
- Final Arrangements: This is a document that will specify your wishes in regard to organ and tissue donations, as well as your burial or cremation arrangements. With this document, you can designate a specific person to ensure these items are properly executed.
- Transfer/Pay-On-Death Designations: Any financial accounts with a bank, credit union, or other financial institution will usually allow account holders to designate beneficiaries directly with the institution. This is regardless of the existence of any formal will.
Call Today and Get Some Peace of Mind
Clear, comprehensive instructions on how to settle your estate goes a long way when the time comes. Whether you want to create health care directives for end-of-life decisions, update a will, or establish a trust, Ms. Acevedo can help get things in order. She has gained valuable experience during her 25 plus years in the legal field. You can trust her when it comes to planning wills and estates. She will give you the care and attention you expect and deserve. Contact us today for more information about getting expert legal counsel.
Contact Ms. Acevedo
When you reach out, we can provide you with a no-obligation consultation and go over any legal issues you needed taking care of. Our will and estate planning will ensure that everything is in good legal order. So you can get some peace of mind knowing that your assets end up in the right hands after death.