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

The importance of early estate planning

New York residents may find that they are best served by creating an estate plan as soon as possible. One man almost had to pursue guardianship of his father after not understanding how a power of attorney worked. The man thought that he could create and sign the document on his own. However, for the POA to be valid, the father would have to sign it.

As the father was experiencing symptoms of dementia, it wouldn't have been possible for him to do so. Fortunately, the man discovered that his father's attorney had created power of attorney documents in the past. One of the main takeaways from this situation is that estate planning generally entails more than creating a will or a trust. Individuals may want to think about creating a power of attorney as soon as they turn 18.

Doing so may be beneficial even if a person is still healthy and not in need of assistance. By planning ahead, there are protocols in place to account for a situation in which an individual or a loved one may have dementia or otherwise be incapacitated. As a general rule, good planning may be easier as well as less expensive than dealing with an emergency situation.

If an individual does not have an estate plan, it may be a good idea to create one. Those who do have an estate plan may want to review it on a regular basis. An attorney may help creating or reviewing wills, trusts or other estate planning documents a person may have or need. Regular reviews may ensure that the entire plan meets a person's goals and wishes.

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