The author is an attorney in New York City. He believes the following documents should be prepared by all adults living in the US: will, power of attorney, health care proxy, living will, HIPAA release and organ donor card.
A will provides for the distribution of property and if there are children, a will provides for a guardian who will take care of such children. The author, as a practicing attorney, believes it is far better for people to have any will, even one prepared by generic software which might not be truly tailored to the individual?s needs, then to not have one. Average individuals earning between $30,000 to $250,000 per year need basic estate planning documents otherwise they are ill prepared for unforeseen changes in health or even their own death.
However, it is far better for the average person or couple to use an attorney to prepare estate documents then to use generic software to do the job. An attorney prepared will likely saves a great deal of money and time after a person dies and his or her estate is probated (the legal process which ensues upon death and filing of a will in court).
In New York City, where the author practices law, it should cost around $600 for a basic set of documents for a married couple and less for an individual.
In New York City, where the author practices law, it should cost around $600 for a basic set of documents for a married couple and less for an individual. The author will even travel to your home or office or other location of your choice for no extra fee. Many attorneys, such as the author, accept credit or debit cards and payment plans on such cards making an attorney drafted will and estate documents quite affordable.
What other documents other than a will do individuals and couples need as part of a basic estate plan?
A power of attorney is a legal tool which is effective while the person granting such power is alive. It is very important to have an attorney prepare this document as in New York State there is an official form which is quite complicated and there are important legal considerations at play.
A living will allows you to express your wishes regarding medical treatment in the event you at some point become unable to do this for yourself.
A living will allows you to express your wishes regarding medical treatment in the event you at some point become unable to do this for yourself.
An organ donor card and HIPAA release are two other documents which all adults should have prepared for them by an attorney.
It is best to to a competent attorney to prepare the essential estate planning documents discussed in this article.
Michael Spevack, Esq. is a graduate of NYU School of Law and would love to help you plan your estate. Call him at (866) 529-6453 or (212) 754-1011 for cost effective legal help.
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