Planning Makes The Difference
Many people know that having a will can make a difference when it comes to how smoothly things go after their death. Most people agree that a will can work to ensure that family members have a clear idea as to “who gets what,” but there are other elements, rather simple elements, that can significantly improve your estate plan. These are known as “the big three.” At The Law Offices of Joseph H. Nivin, P.C., we are committed to providing the top-notch legal service you and your family deserve.
The Big Three In Estate Planning
Attorney Roger Colmena is our dedicated estate planning attorney. He will work with you to create a tailored plan that aligns with your needs, family dynamics and goals. Most estate plans include three basic documents or tools. These are:
- A last will and testament: Also called a will, this documents “who gets what.” It also designates a person or couple to raise your minor children should you and the other parent die or become incapacitated. During the making of your will, attorney Colmena will also ensure that all your bank accounts, IRAs, 401(k)s, life insurance policies and other accounts have designated beneficiaries or are set to transfer on death (TOD).
- A power of attorney (POA): A POA is a document that assigns financial power to the person of your choosing. This power can be temporary and limited or can last through your incapacitation and be comprehensive. Basically, a POA means that, should you be in a coma, have a stroke or be diagnosed with dementia, the person you designate will be able to pay your bills, collect on your debts and sell your property if needed. A POA can be tailored to your needs or expected needs.
- A health care directive and proxy: A health care directive is also called a living will. It sets down on paper what type of medical care you want (or do not want) if the unthinkable happens. Your family and medical professionals will use this as a guide to know what to do when they don’t know what to do and when you are unable to tell them. A health care proxy is the person you designate to make decisions for you if you can’t.
Attorney Colmena will walk you through these tools and explain the options you have. He will ensure that you understand not only your choices, but the reasons for choosing one option over another, given your unique situation and goals. He can also advise the best way to protect your assets. He will explain the New York probate process, other options not described on this page and what you can expect, given your plan. He can also advise updates to your plans should you marry, divorce or have children.
Set Your Intentions Down In A Will Today
Call 877-704-9920 and set up a meeting with estate planning attorney Roger Colmena. You can also reach our team via our online contact form. Our firm serves estate planning clients in Queens, Brooklyn, Bronx, Manhattan, Westchester and throughout Nassau County, New York.