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Why Millennials Need a Will

You are not too young to have a Last Will & Testament

George H. Gray 0 524 Article rating: No rating

Why_Millennials_need_a_WillMany millennials believe that because they have a young family and have not accumulated a significant Estate they do not need a Will.  If you imagine the unthinkable and one parent dies, what becomes of his or herstuff

Why Do I Need To Appoint a Trustee As Part of My Estate Plan?

Trusts are a more often used Estate Planning strategy than conventional wisdom would predict

George H. Gray 0 576 Article rating: No rating
Why_I_need_a_TrusteeTrusts are more commonly used in the Estate Plan of a middle-class New Yorker than conventional wisdom would predict.  For instance, a trust for the benefit of minor children is always a good idea when planning for their lives after the death of both parents.  Parents and grandparents of a child with special needs will find the many advantages of a supplemental needs trust worth exploring. Elderly couples may find an irrevocable income only trust a useful tool in their Medicaid Planning.

Consider a Health Care Proxy or Power of Attorney for your adult child with a disability

If your child with a disability is an adult and has capacity, her or she should sign a Health Care Proxy and a Power of Attorney

George H. Gray 0 715 Article rating: 2.0
Power_or_Attorney_and_Healthcare_ProxyDon’t automatically assume that your adult child with a disability may not sign a POA or a HCP.  These are two instruments which allow members of your child’s circle of support to assist him or her to make important financial and health care decisions.  If the nature of your adult child’s disability is not related to cognitive functioning, he or she should be considered “competent” and capable of signing these two most important documents. 
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