Getting your estate in order may seem daunting and overwhelming, but it is essential in order to ensure the security and well-being of your family, both in the present and upon your incapacity and/or demise.  The Law Office of Vanessa Icolari can assist you with:

1. Writing your will.  In simplest terms, a will states how your assets should be divided and distributed either during your life or upon your death. A will may also appoint a guardian for your minor children, and an executor who will have legal responsibility to ensure that your wishes are carried out. 

2. Powers of attorney.  Granting someone "power of attorney" allows that person to take care of your financial and personal affairs in the event you cannot. 

3. Health care decisions.  You can create advance directives such as a living will to state what type of medical care you want under certain circumstances, or a health care proxy to designate someone to make these decisions for you if you are incapacitated.

4. Final arrangements.  In a will or letter of final instruction you can detail your desired funeral arrangements.
You may also wish to set up a payable-on-death account at your bank to deposit funds to pay for your funeral and related expenses.

5. Small business planning.  If you own a small business, you may want to create a succession plan or buyout agreement to protect your business upon your death. 

6. Life insurance.  If you are worried about your family struggling financial after your death, you may want to consider purchasing a life insurance policy.

7. Trusts.  You can create a trust for a variety of purposes. There are marital trusts to allocate assets to your spouse; trusts to divide and distribute your assets to your children and loved ones; supplemental needs trusts to provide for loved ones with special needs/disabilities; honorary pet trusts to ensure that your animals will be cared for after your death; charitable trusts to give to your favorite charities; and revocable and irrevocable trusts to protect your assets.

8. Benefits planning.  You may wish to file beneficiary forms and name a beneficiary for bank accounts and retirement plans in order to make the account automatically payable on death and allow the funds to skip the probate process.  You may also register your stocks, bonds, or brokerage accounts to transfer to your beneficiary upon your death.

9. Medicaid Benefits and Special Needs planning.  Special Needs Planning is needed when one or more of the following situation occurs: i. A disabled child who is receiving public benefits will or has received an inheritance; ii. A disabled child who is receiving public benefits will receive proceeds from a personal injury settlement or suit; iii. A disabled adult in a skilled nursing facility who is receiving public benefits will or has received an inheritance; or iv. A disabled adult in a skilled nursing facility who is receiving public benefits will receive proceeds from a personal injury settlement or suit.  In all of these situations, the receipt of these proceeds will mean the discontinuation of valuable Medicaid and other public benefits unless proper planning is implemented.

10. Estate planning.  It is important to understand the different ways you can transfer your assets and minimize the imposition of taxes or claims from creditors and create a plan to suit your specific needs and wishes. 

11. Marital agreements.  Pre and Post-Nuptial Agreements detail how the couple wish their financial matters to be resolved in the event of a divorce or separation. Such an agreement can help ensure that matters are resolved as quickly and amicably as possible if the relationship breaks down.

It is also important to store your documents so that your attorney-in-fact and/or executor can access important documents such as your will; trust; insurance policy; real estate deed; stocks/bonds/annuities certificates; information on bank accounts; mutual funds and safe deposit boxes; information on retirement plans, 401(k) accounts, or IRA's; and information on credit card debt, mortgages, loans, and unpaid taxes; information on funeral prepayment plans; and final arrangements.