Mullen and Iannarone, P.C.
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Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

Choosing the right people to take charge of an estate

When New York residents are planning for the future, it can be daunting to name a person who will become responsible for their well-being if they suddenly become unable to make their own decisions. However, when they are preparing their wills and powers of attorney, there are some hard decisions that will have to be made.

If people making decisions about who will manage financial assets under a power of attorney if they become inacapacitated, it is recommended that they choose someone who they know is financially savvy. This may mean choosing a relative or other close party they may not necessarily be the closest to. If possible, people who know how to budget or has banking experience may be a good choice as they are more likely to have the skills to manage financial assets over time.

When it comes to naming someone to make medical decisions or decisions about who will raise the kids if something should happen, a person who has experience as a caregiver may be a good option. For example, a family member who already has kids or has experience in healthcare is recommended.

No matter how many assets people have, they should protect their estate by drafting wills and trusts. This way, they can rest assured that their family is financially protected if they die or cannot support their family following an accident or illness. An estate planning attorney may assist with creating the documents that protect their property in the event that they die or suddenly become unable to make decisions.

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