Estate Planning: Prepare Now to Avoid Significant Consequences Later

A recent Wall Street Journal article noted that the financial consequences of failing to keep your documents in order can be significant.  While planning for the end of life can seem like something for another day, preparing for your death or untimely demise in event of an accident can help avoid unnecessary stress and financial cost for your family and loved ones. The essential legal documents that need to be prepared are your Will and Power of Attorney. These documents can help to:

  • Legally document who’ll take care of your children and preserve your assets for your children or other beneficiaries until they are able to manage them themselves
  • Ensure that your assets won’t get tied up in the court systems, including financial, estate and personal assets
  • Appoint a person(s) to make health care decisions for you if you are unable to
  • Avoid unnecessary expenses, worry and frustration

A will allows you to dictate who inherits your assets. A power of attorney allows you to appoint one more people to handle your health care, legal and financial affairs if you’re unable to. Your spouse does not have natural power of attorney! It can also reduce the risk of a guardianship proceeding if you become disabled. Once your will is drafted and signed and you’ve determined a power of attorney, you should detail in writing where your legal documents are located and advise your children or other family members.  Read more about simple preparations you can make now in the article below. “The 25 Documents You Need Before You Die”. The Wallstreet Journal. Web. 14 July 2011 “Protecting Your Future: Enhanced power of attorney a big plus”. Record Online. Web. 14 July 2011 Visit the Online Legal Documents section of our website for online Wills and Power of Attorney documents.  Unlike other online legal document services, our Estate Planning documents are reviewed by Finkelstein & Partners attorneys.

Dear Friends and Clients,

In furtherance of our firm’s culture of commitment to always act with compassion, concern and commitment to our clients, community and colleagues, we have been taking precautions to ensure that we are still fulfilling our ethical and moral obligations while prioritizing health, wellness and safety of all we can.

As you know, the COVID-19 pandemic has introduced changes to many lives and businesses in our communities, and around the world. We, much like our neighbors and friends, have been taking precautions to ensure that we are still fulfilling our ethical and moral obligation to our clients, while also prioritizing the health, wellness and safety of our employees.

Until further notice, our offices will be closed to the public to encourage social distancing and to help prevent the spread of COVID-19. Our team is still hard at work, many from home, and you may still call, email, live chat or video conference us if you or a loved one is seeking legal assistance. As the first law firm to offer our clients secure online access to their case file more than a decade ago, we have always been believers in using technology to make life easier and information more accessible. In these present times it has been a smooth transition for us to continue to offer our clients the same seamless and thorough service that you deserve and are accustomed to.

This pandemic is unlike anything any of us have faced in our lifetimes, and while we can continue to emotionally support one another through it all, staying home and keeping your distance is vital to the health and wellness of our communities. It does not feel good to break routines, cancel events and retreat from our normal, day-to-day socializing, but let us remember that, in times of strife, prior generations were asked to go to war and we are simply being asked to stay home. Your isolation equals more lives saved, and more time for medical providers to prepare for the treatment of patients battling COVID-19.

When the dust settles, we will join together with a greater appreciation for our lives, local businesses, loved ones and health. Until then, we will continue to offer guidance from a safe distance.

Very truly yours,

Andrew G. Finkelstein and the staff of Finkelstein & Partners, LLP