What Are Your Questions? We Can Answer Them.
Creating an estate plan is rarely easy. The legal process is complicated, leaving clients with many questions. Whether you are creating an estate plan for the first time or are updating your current plan, the attorneys at Lyons & Supple can answer any questions that you have.
These are some of the questions that we hear most frequently.
Q: What exactly is an estate plan?
An estate plan is composed of several legal documents that tell your loved ones and the state how you wish to distribute your assets. Your estate plan can also address your wishes regarding health care and end-of-life care.
Q: Do I really need an estate plan?
Every adult needs an up-to-date estate plan. Even if you are young and in good health, life is unpredictable: if you die unexpectedly, your family will be left in limbo trying to administer your estate. Without a legally sound plan, you have no guarantee that your estate will be distributed as you wish.
Q: What are the components of an estate plan?
Every estate plan varies according to the needs of the client. However, most estate plans include:
- A will, to name beneficiaries and distribute your property.
- A health care power of attorney. This names someone you trust to make decisions regarding your health care if you cannot make them for yourself.
- A durable power of attorney, to name a relative or lawyer who has the power to act on your behalf if you become incapacitated.
Q: My parents are elderly. How do I talk to them about estate planning?
Initiating the conversation about estate planning feels difficult, but an uncomfortable conversation is much better than your relative passing away without an estate plan in place. Gently but firmly explain to your parents that estate plans are crucial to protect their assets, pass wealth to the next generation and ensure that their wishes are respected after they pass away.
Q: Can I make an estate plan on my own?
Even if your estate is fairly simple, you should not make an estate plan without the help of a lawyer. The internet is full of websites that offer fill-in-the-blank templates that you can print out, but most courts will not honor these documents.
Ask All Of Your Questions In Person
This short FAQ probably does not answer every question you have. You can speak with one of our compassionate attorneys in person to get answers to your questions and concerns. Schedule your consultation in Wappingers Falls by calling 845-236-5085 or by sending an email.