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Get Your Estate Plan In Order.mp3

The problem: The will my husband and I drew up names our son as executor. Due to family circumstances, we would now like my husband’s brother to act as executor, not our son. Do we need to redo our will, or can we just sign an addendum with this change and have it notarized?

The expert: Frank L. Buquicchio, elder law and estate planning attorney, Vincent J. Russo & Associates.

If you believe in being prepared no matter what may happen, then you can benefit from a trust. When we're talking about estate planning, elder law, and special needs planning, we believe strongly in trusts because we have seen our clients benefit in so many ways. Most people know they need a will. However, trusts are less widely understood and there are many different types of trusts. A living trust is simply a trust that is created by a living person. A testamentary trust is created under a will and is established upon a person's death. Revocable living trusts can be changed or revoked at any time. Irrevocable trusts cannot be changed, altered, or revoked by you.

Many seniors have Powers of Attorney, but do you have the right one? This is a very important question because no one has the right to make financial decisions for you, unless you have legally appointed a person with the authority to act for you.The best way to give that legal authority is by executing a Comprehensive Durable Power of Attorney.

Estate and Long Term Care Planning for You and Your Family

On September 1, 2009, Powers of Attorney in New York State will change dramatically. Both the format and the execution of these documents are significantly different.

Remedies for an unreasonable refusal to accept a properly executed Power of Attorney are limited by the new law to a special proceeding to force the acceptance. Damages are no longer possible.