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Make sure your parents' Wills are Up To Date: Part II

George H. Gray 0 360 Article rating: No rating
Last Will for Aging ParentsYour parents’ Wills contain details which are specific to the time they were signed. The Wills name an Executor and other fiduciaries, identify a spouse, children and other intended beneficiaries, and reflect the state of the law at the time of signing. The circumstances of the person named as an Executor or Trustee may have changed.

Make sure your parents' Wills are Up To Date: Part I

George H. Gray 0 273 Article rating: No rating
More often than not, a Will is prepared, executed and then forgotten. Years, even decades, may pass since your parents’ Wills were signed. A lot can happen in those intervening years. The attorney who drafted the Will could have died or retired. The two persons who “witnessed” the Will can now be unavailable. You must have the original Will of your parent to Petition the Court to admit it to Probate. In addition, you’ll need access to the two persons who “witnessed” the Will’s execution; or, the use of what is called an “affidavit of attesting witnesses.” Now is the time to locate the “original” Will.

Make your aging parents' Health Care Proxies are accessible and is up to date.

George H. Gray 0 212 Article rating: No rating
NY Aging Parents' Health Care Proxy infoA well-structured Estate Plan must consider the possibility that your parents will be alive but incapacitated and unable to make their own financial or health care decisions. A Health Care Proxy (“HCP”) is the document in New York which allows your parents to select a person (called an “agent”) to make their health care decisions in the event they are unable to do so.

Make sure your aging parent’s power of attorney is up to date.

If your parents’ POA predates 2010, it is time that they sign a new one!

George H. Gray 0 559 Article rating: No rating

Power of AttorneyA power of attorney (a “POA”) is widely used for financial and estate planning purposes and for avoiding the expense of guardianship in the event incapacity of the person granting the power (called a “principal”). The POA grants to another person (called an “agent”) broad authority to access the principal’s personal financial information; to sell or dispose of the principal’s property; to change ownership of the principal’s accounts and property; and to change beneficiary designations on life insurance and retirement accounts.

Landmark case from New York’s highest court expands definition of what it means to be a parent.

The Court held that a “non-biological, non-adoptive parent” has standing to petition for custody and visitation.

Roberta K. Feldman 0 435 Article rating: No rating

NY's Highest Court Redefines ParentThe Court of Appeals issued a ruling on August 30, 2016 entitled In the Matter of Brooke S.B. vs. Elizabeth A. C.C. (28 NY3d 1, 2016 NY Slip Op. 05903) which overturned the case of Matter of Alison D. v. Virginia M. (77NY2d 651, 572 NE2d 27, 569 NYS2d 586) decided in 1991. In Matter of Alison D., the Court of Appeals held that in an unmarried couple, a partner without a biological or adoptive relation to a child is not the child’s “parent” for purposes of standing to seek custody or visitation under New York law.

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