A carefully constructed well thought-out Estate Plan is best made when there are no impending crises. The plan should cover your current and foreseeable living conditions. Our office meets with you, obtains all necessary information regarding your living conditions and finances and then makes recommendations based upon your needs and objectives. The office of Mark H. Weiss sends out drafts of the documents, gives you an opportunity to review and then we review them with you in the office so that you understand the documents before you sign them. An Estate Plan should be adjusted periodically to reflect changes in your financial, families or health circumstances or upon material changes in the law. Ideally it enables your personal representatives to pass on your assets to your children, family, charities or other beneficiaries without great delay, cost or controversy. It should take into account any Special Needs of any family members.

Estate Planning for the Disabled

A Power of Attorney (POA) should be included in any plan. The POA allows an agent(s) you choose, to act in your best interest when you are unable to do so.

Power of Attorney may only be used when you are alive. Great care should be given to whom you choose. Without having a Durable Power of Attorney, if you become incapacitated it is often necessary to proceed with a Guardianship Proceeding.

Health Care Proxies & Living Wills allow you to name a Health Care agent and set forth any specific instructions you have as to levels of care to be given.

Every person should have a Will so there is no confusion as to any specific bequests you wish to make, who shall receive the property and who shall be named as Executor. Without a Will, the Intestacy Law prescribe who will receive an inheritance. This may differ from your intent. A Will only takes effect upon your death and upon being admitted to probate.

Increasingly individuals are using Trusts often referred to as Living Trusts to act as the primary document to pass assets. Under a “Living Trust” so long as the property is titled in the Trust, the costs and expenses and delays of a Probate can be avoided. A trust is often recommended when you have property in more then one State since each State may require its own Probate or “Ancillary Proceedings”. Rights of privacy are better protected since the Trust need not be filed with any Court. A Living Trust is often used when you wish to disinherit someone. Living Trusts are generally “tax neutral” i.e. your tax will not be affected for better or for worse. A Living Trust allows you to control your assets during your lifetime and to name the successor Trustee to make sure your instructions are carried out. This type of Trust can be amended or revoked by you at any time during your lifetime. A Living Trust , which is revocable, does NOT provide protection against costs, associated with Nursing Homes, home care or Assisted Living since you have total control over your assets.