Your mortality is not something you want to think about. However, you should put your affairs in order while you are still healthy and lucid. Estate law involves the division and distribution of your assets after your death. You can also use elder care law to designate the person you want making decisions about your health care if you are incapacitated.
Creating a will is especially important if you have built up a business and accumulated a great deal of wealth of your lifetime. Lawyers who specialize in this field of law can help you make critical decisions about who gets what, and they can help you formulate a legally-binding will that expresses your last wishes.
Here are some of the things that an experienced estate planning attorney can help you deal with:
If you run a business and have a controlling stake in it, you may want control of the company to go to a trusted colleague and the financial rewards produced by it to go to your loved ones. You can create a will that does this. It will allow you to secure the livelihoods of the people who work for you and the financial security of your family.
It is especially important to plan if you have a large estate
You can establish trusts for select members of your family. You can set age qualifications and other conditions. You can also arrange things so that the fund grows at a certain rate each year.
End of life care
Everyone deserves to end their final days in dignity. An experienced attorney can help you draw up a Do Not Resuscitate (DNR) order that is to take effect if your health declines to a certain point. You can also appoint a person to decide health matters for you if you slip into unconsciousness or lack the mental capacity to exercise good judgment.
Barry E. Janay P.C., Elder Law Attorney