Page 27 - Example Guide

Basics of NY Estate Planning
The death or incapacity of a loved one is a difficult situation that, unfortunately, all of us face eventually. The difference in the level of difficulty faced is entirely in your hands - how well did you plan for this contingency? With proper estate documentation in place, you can ensure that your family and legacy are protected, and that there is as little financial impact on your family as possible.
The basic estate plan has two essential aspects - the designation of individuals to act on your behalf in the event of your incapacity, and the proper and clear disposition of assets in the event of your death, with an eye towards the minimization of tax and administrative burdens on the loved ones you leave behind.
In consulting with your attorneys for your initial estate planning consultation, bring with you a list of your assets (including real estate, bank accounts, investment accounts, annuities, retirement accounts),
liabilities, insurance policies and if applicable, prenuptial agreements and judgments of divorce. With this information in hand, your attorneys will be able to give you informed advice regarding the best course of action.
The Basic Estate Documents
Healthcare Proxy
A Healthcare Proxy is an important legal instrument which sets forth the person or persons who you would like to make healthcare decisions on your behalf in the event of your incapacity. In the absence of such an instrument, your healthcare provider may not have the proper guidance as to who you would trust to make these important decisions, or information how to contact the person who you would designate. By preparing a healthcare proxy, you will assist your physicians and nurses in providing the care that you would want to receive if you were able to speak for yourself.
M. A. Connell Funeral Home - Page 27