Posts Tagged estate planning

A Guide For Living Wills


The following article was written by Theodore Sliwinski, Esq. and can be found on New-Jersey-Lawyers.com

A LEGAL GUIDE ON LIVING WILLS

The information below describes your legal rights concerning health care decisions and living wills. It explains your legal right to make decisions about your own health care under New Jersey law, and it tells you how to plan ahead for your health care if you become unable to decide for yourself because of an illness or accident.

1. Why should I consider writing a living will?

A serious injury, illness or a mental incapacity may make it impossible for you to make any health care decisions for yourself. In these real life situations, those responsible for your care will be forced to make these decisions for you. A living will is simply a legal document that which provides information for your treatment preferences to those caring for you, helping to insure that your wishes are respected even when you can’t make decisions yourself. A clearly written living will help prevent disagreements among those close to you. Moreover, a living will can reduce some of the burdens of decision making which are often experienced by family members, friends and health care providers.

2. What happens if I’m unable to decide about my health care?

If you should become unable to make treatment decisions because of an illness or an accident, then those caring for you will need to know about your values and wishes in making decisions on your behalf. Therefore, it is critically important to have a living will in this day and age. If you don’t have a living will then you could be forced to live as a vegetable for many years.

3. Where should I keep my living will?

In addition to the client keeping a copy of the living will, copies should be distributed to the health care representative and the alternate. Moreover, a copy should be given to your personal physician. Family members, friends, or anyone else who is likely to be involved in your health care treatments should also be given a copy.

4. Will the terms of my living will be followed?

Yes. Everyone responsible for your care must respect and comply with the directives and wishes that you have specified in your living will. However, if your doctor, nurse or other professional has a sincere objection to respecting your wishes to refuse life-sustaining treatment, then he or she may have your care transferred to another professional who will carry them out.

5. Does New Jersey recognize living wills as legally binding documents?

Absolutely. In 1990, the Supreme Court of the United States confirmed that a person’s rights to make choices about medical care are protected by the Bill of Rights. Under New Jersey law a living will are clearly legal and binding legal documents. Moreover, hospitals and physicians must also honor your living will.

6. What happens if I regain the ability to make my own health care decisions?

If you should regain the ability to make your own health care decisions, then you will have the legal authority to make any decisions regarding your health care and treatment. Thereafter, the person who holds holding your medical power of attorney will not be able to make these decisions for you.

7. What if I don’t have a living will?

If you should become unable to make treatment decisions and if you do not have a living will, then your close family member(s) will talk to your doctor and make these decisions on your behalf. However, if your family members or physicians disagree about your medical care, then it may be necessary for a court to intervene and to appoint someone as your legal guardian. This also may be legally required if you do not have a family member to make decisions on your behalf. That is why it is very important to put your wishes in writing to make it clear who should decide for you, and to help your family and doctor know intentions.

8. Will I still be treated if I don’t have a living will?

Yes. You will still receive medical treatment even if you do not have a living will. Your health insurance company also can’t deny coverage based on whether or not you have a living will.

9. How are living wills executed?

A competent adult may execute a living will at any time. The living will must be signed by the declarant and witnessed by either two adult witnesses or a notary public or lawyer. The witnesses must also attest to the sound mind of the declarant, and that the living will was executed free of duress or undue influence. The health care representative or the agent as listed in the living will is ineligible to act as a witness. In New Jersey the agent is also referred to as a health care representative. New Jersey recognizes living wills executed in other states as long as they comply with the laws of New Jersey.

10. How can I make any changes to a living will?

A living will can be modified at any time, as long as the declarant (the person who makes the living will) still has the ability to make sound decisions. If there are any changes to the living will, they should also be witnessed and dated.

To balance of this article can be found here on  New-Jersey-Lawyers.com.

New Jersey lawyers who take care of wills and estates can be found at New-Jersey-Lawyers.com , NJLawFirms.net and Njlawyers-NewJerseyLawyers.com

 

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How A Power of Attorney Functions in Estate Planning


The following article was written by Franklyn Aronson, Esq. Of Kamensky♦Cohen & Associates and can  be found on New-Jersey-Lawyers.com

A Power of Attorney (POA) is a legal document giving another person or institution the right to do certain legal acts or tasks for another person (the Principal).  This document may be one of the most important in an Estate Planning.  It will save significant time and money if circumstances necessitate its use.  A person giving another Power of Attorney can make it very broad (General POA) or can limit it to certain acts ( Limited POA).

The person giving another a Power of Attorney does not surrender his or her rights.  It simply authorizes another to act on his or her behalf, much like giving another person an extra set of keys to your house; you, of course, still maintain the access to your house yourself and you can take back the key or change the locks if you choose.

A “General” Power of Attorney gives your agent very broad powers to do almost every legal act that you can do.  The document will list numerous authorizations and then contain a general catch-all authorization for the person with the Power of Attorney to perform acts for you.  It will include financial, health and property management powers.  A “Limited” Power of Attorney gives the agent only certain powers or rights to engage in a particular transaction on your behalf, such as signing financial documents on your behalf if, say, you cannot be present at a house closing.

A “Durable” Power of Attorney comes into play if what you want to accomplish is having . …..click here to finish this article

For more information about  NJ Estate Planning  Law or to find a New Jersey Estate Planning Lawyer.  Additional lists of NJ Law firms can be found here.

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Trusts – Questions and Answers Introduction



The following article about Estate Planning
Is featured on New-Jersey-Lawyers.com


Written by Michael B Mangini, J.D.

Question 1: What is a trust?

Answer: A trust is a legal relationship among persons that requires: (1) a person who creates and funds the trust (trustor), (2) a person who benefits from the income and principal in the trust (beneficiary), and (3) a person who manages the property in the trust and distributes income and principal according to the terms of the trust (trustee). Think of it as a contract. The governing instrument is the writing that contains the relevant provisions.

Question 2: What is the purpose of a trust?

Answer: There are many purposes for trusts. Each trust is different. Primarily, the purpose of the trust depends on what the trustor wants to accomplish. The goals of the trustor dictate the way a trust is drafted, i.e. the drafter will write provisions designed to accomplish the trustor’s goals within the limits of the applicable law. After the trustor signs and funds the trust, the rights of the trustor and beneficiary and the duties of the trustee are determined with reference to the written provisions of the trust. Trusts may be used to protect assets, limit the use of assets, manage transfer taxes, avoid probate, benefit charities, provide for pets, and to address many other situations…….


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