Wills, Living Wills, Power of Attorney

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Bronx Lawyer for making Wills, Living Wills, and Power of Attorney

Wills, Living Wills,
and Types of Power of Attorney

It may feel morbid to talk about how your loved ones will move on after your death, but it’s better to secure their future after you are gone than to leave it up to chance. A last will and testament will go a long way, and a good New York City estate planning attorney can help.

There are different kinds of wills, different times at which they should be applied, and different steps you should take to protect your assets and your family. Your last will and testament are essential for providing for your family in the future. However, a last will and testament only becomes a legally binding document after your death.

The living will attorneys at the Law Offices of Diron Rutty can help ensure that your will represents your interests throughout all the potential changes that may occur from now and into the future.

Why Would You Need an
Estate Planning Attorney After You Write Your Will?

You might find yourself in a situation that demands changes to your last will and testament. You have the right to make changes as long as you can prove to be mentally coherent. An attorney can help you make these changes, record when they were changed, and make sure they legally supersede any prior wills.

The Law Offices of Diron Rutty can help with all of this. Some of the reasons why you might need to adjust your will include the following:

  • Divorce or other changes in marital status
  • The birth of more children
  • Death of family members
  • New job or other general changes to your financial situation
  • Changes in how you want your assets distributed
  • The addition of power of attorney
  • The addition of health care directives to your plan
Estate Planning Attorney in New York City

What Goes
Into Your Estate Plan?

Your basic estate plan should consist of a will, healthcare directive, and power of attorney. It can also include plans for trusts if you wish to have them as well. All of these should be written to meet your individual needs.

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Estate Planning
Begins With Creating a Living Will

A last will and testament is the most familiar and most important part of one’s estate plan. A will allows you to express your legal wishes regarding your property and dependents after death. This includes:

  • Giving directives as to who gets your property upon your death
  • Naming a guardian for your young children
  • Naming your executor (the person you want to handle your financial and/or health affairs and oversee the probate process

You Can Choose to
Add a Power of Attorney

If you use a will to plan your estate, it is important to consider powers of attorney. A power of attorney designates a trusted individual to make decisions about your financials, your medical decisions, and or your property decisions.

These responsibilities can be split amongst several different people and include:

  • Transferring real estate
  • Handling a bank account
  • Handling a trust
  • Deciding on your healthcare
  • Having the final say on situations that aren’t detailed in your will

In your will, the power to make decisions on your behalf is not given until you die. A power of attorney allows you to give someone the power to make decisions if you are incapacitated. Therefore, you should create a living will and designate power of attorney. This will allow a relative or a trusted friend to manage your financial affairs for you in the event you are no longer able to.

The Different Types of POAs

There are several types of Power of Attorney (POA), each serving different purposes and granting varying levels of authority. Here are the main types:

  • General Power of Attorney: This grants broad powers to an agent to act on behalf of the principal in various matters, such as financial and legal decisions. It is typically used for a specific period or purpose and becomes invalid if the principal becomes incapacitated.
  • Durable Power of Attorney: Unlike a general POA, a durable POA remains in effect even if the principal becomes incapacitated. Durable power of attorney is often used for long-term planning. This allows the agent to manage affairs if the principal is unable to do so.
  • Special or Limited Power of Attorney: This type grants the agent authority to act in specific situations or for particular tasks, such as selling property or managing a bank account. It is limited in scope and duration.
  • Springing Power of Attorney: This POA only becomes effective upon the occurrence of a specified event, usually the incapacitation of the principal. It “springs” into action when needed, as defined in the document.
  • Medical or Healthcare Power of Attorney: This grants the agent authority to make healthcare decisions on behalf of the principal if they are unable to do so themselves. It is specifically focused on medical and health-related matters.

Each type of POA serves different needs and situations, so it’s important to choose the one that best fits the principal’s requirements and intentions.

Should Health Care Directives
Be Part of Your Plan?

Including directives regarding your life and your health in advance and appointing someone to oversee those decisions if you become ill or incapacitated is an important tool in your estate plan. Adding a living will, otherwise known as an advanced directive, will explain your wishes concerning your desire to artificially prolong your life if there is no chance for your recovery.

A power of attorney is an additional legal document in which you appoint an agent to make healthcare decisions on your behalf when you become incapable of making or executing those decisions yourself.

To discuss your estate plan or need help creating a living will, you can contact our living will attorneys. We can be reached at 718-324-0404 in New York City, 845-849-9201 in Poughkeepsie, NY, use the form below, or email us at info@DironRuttyLLC.com.

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