In New York, estate owners review options for distributing their wealth. The first opportunity for the estate owner is a last will and testament. The document legalizes and enforces the estate owner’s final wishes. It also gives the owner a chance to identify an administrator to distribute their wealth. A Wills Lawyer Nassau County NY guides the estate owner through the process.
Setting Up Guardianship for Minor Children
The estate owner sets up a legal guardianship for their children in the will. They can select one individual or provide a list of possible guardians. The estate owner includes provisions for accepting the guardianship. They could include the terms of decisions for the children. This could equate to religion, the school in which the child attends, or where the child will live. The assignment may include stipulations about how resources and assets are used.
Dividing Monetary Assets
The division of monetary assets is also addressed in the will. It is divided according to the estate owner’s wishes. They also have the legal right to impose stipulations for the monetary assets. This could include a limit on much money is disbursed each year.
Distributing Real Property
The distribution of real property requires a transfer of title. An attorney assists with all title transfers. The estate owner could present assistance for any costs associated with transferring the titles.
Setting up a Health Care Plan
Wills Lawyer in Nassau County NY help estate owners set up a health care plan. The plan addresses who provides care for the estate owner. They also create a living will that defines what life-saving techniques are allowed. The estate owner identifies a health care proxy as well. The plan is used if the estate owner becomes incapacitated.
In New York, estate owners assess possibilities for distributing their wealth. During the planning process, the owner creates a will. The will provides direction for the family. This includes providing real property and monetary assets to each member of the family. Estate owners that need help from a Wills Lawyer Nassau County NY Contact The Law Offices of Peter Morra and schedules an appointment now.
