When we talk about your "Will" we really mean your "Last Will and Testament". The Last Will and Testament is essentially two documents, a Will and a Testamentary Trust. When properly executed, your Will provides for the legal disposition of your property in the event of your death. Included in the Will, should be a Testamentary Trust which directs that, upon your death, any property passing to a child under the age of 25 will be held in trust for the child's health, education and support. The age of 25 can be changed to any age you feel is appropriate. The Will and Testamentary Trust are only binding in the event of your death and can be changed at any time so long as you are competent to do so and the changes are made in a legally acceptable manner.
When discussing such dismal subjects as your Will. We always make sure to include a "Power of Attorney." The Power of Attorney is used in the event you are incapacitated and someone needs to take care of the your affairs. Quite often, we use a Power of Attorney that is only effective if you are incapacitated. Under the right circumstances, we make the powers effective at all times to avoid the delay or red tape in having to prove that the person is incapacitated.
We also discuss the Advance Health Care Directive which is often referred to as a "Living Will". Your Advance Health Care Directive appoints a health care representative to make health care decisions for you in the event you are unable to do so. It also gives your doctors some direction in the event you are in a vegetative state and there is little or no likelihood of recovery.
As a result of a personal experience having difficulty obtaining medical information, I also recommend a medical release form which is helpful in obtaining medical records and important information about you should the need arise.
This is typically a three-step process. The first step is to gather information from you and answer any questions you might have. This can be done in person, by fax or e-mail. The second step is to prepare the documents and send them to you in draft form for your review. You would then contact me with any questions or changes. Thereafter, we would schedule appointment for you to come into the office to sign the documents during regular business hours in the presence of two disinterested witnesses and a notary, which I would provide.
The documents discussed above do not take into consideration any estate or inheritance tax issues, nor Medicaid planning issues. These areas are complicated and fact sensitive. A special appointment would be required to discuss further.
Further information about Medicaid and Medicaid eligibility can be found on the Department of Health and Human services website at www.cms.hhs.gov/MedicaidEligibility/
Gary F. Woodend & Associates
5 N. Main St., Ste C
Medford, NJ 08055
Toll Free: 888-336-8417
Telephone: 609-654-5489
Fax: 609-654-5703
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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
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