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Creating a Basic Estate Plan in New York: What Documents Are Essential?

When it comes to estate planning in New York, there are several documents that are essential to ensure that your wishes are carried out after you pass away. A basic estate plan should include a will, a durable power of attorney, a health care proxy, and a living will. Each of these documents will help protect your assets and ensure that your wishes are followed after you pass away.

A will is the most important document in any estate plan. It is a legal document that outlines how you want your assets to be distributed after you pass away. It can also name a guardian for any minor children and appoint an executor to manage the estate. It is important to have a will in place to ensure that your wishes are followed and that your assets are distributed according to your wishes.

A durable power of attorney is another important document in an estate plan. This document allows you to appoint someone to manage your finances and make decisions on your behalf if you become incapacitated. It is important to have a durable power of attorney in place in case you become unable to manage your own finances.

A health care proxy is a document that allows you to appoint someone to make medical decisions on your behalf if you become incapacitated. This document is important to have in place in case you become unable to make decisions about your own medical care.

Finally, a living will is a document that outlines your wishes regarding end-of-life care. This document allows you to make decisions about your care in advance, so that your wishes are followed if you become incapacitated and unable to make decisions about your own care.

These four documents are essential for any estate plan in New York. It is important to have them in place to ensure that your wishes are followed after you pass away and that your assets are distributed according to your wishes. It is also important to update these documents periodically to ensure that they are up-to-date and reflect your current wishes.

If you are considering creating an estate plan in New York, it is important to make sure that you have these four documents in place. They will help ensure that your wishes are followed after you pass away and that your assets are distributed according to your wishes. If you have any questions about your estate planning needs, give us a call at 516-570-4016.