Estate Planning Basics Attorney in New York, New York

Why do I need an estate plan in New York?

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an estate plan is essential regardless

of value

so either depending on your asset value

it really makes no difference uh whether

your state is worth five thousand fifty

thousand or five hundred thousand

the main reason why everyone needs an

estate plan is if you don’t put things

like a will or a trust in place

the state will decide who is in charge

of your estate after you pass

who is in charge of distributions to and

and more importantly who gets your

estate after you pass

and also things like during life

decision making decision making over

your financial affairs if you’re unable

to make them for yourself decision make

making for your medical decisions

access to your hipaa protected records

and things like permanent incapacitation

if god forbid you’re in a vegetative

state what do you want your medical

agent to be able to do and this kind of

segues back to your question about an

article 81

that’s another primary benefit of

setting up a proper estate plan is you

avoid the need

in most cases at least to go to the

supreme court

to have a guardian appointed who can

make decisions for you as long as you

have the proper during life directives

in place

NY estates planning & probate attorney Russel Morgan, Esq. explains why you need an estate plan in New York.

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