Rhinebeck

Planning for Veterans Benefits

Our elder law attorneys also assist in the planning for Veterans Benefits and protecting assets from nursing home costs, through Medicaid Planning or setting up a Medicaid Asset Protection Trust (MAPT).

Here is a checklist to determine the need for a will:

1. What property do your own?
2. Where is it located? Will a domiciliary administration be required?
3. In what form of ownership is the property owned?
4. Are you aware of he intestate succession statute that determines who would take the property if you die without a will?
5. Are specific items of real or personal property to be given to certain beneficiaries?
6. Do you want to donate organs of your body for medical research?
7. Do you wish to establish a testamentary trust for the purpose of maintaining an income for a surviving spouse, elderly parent, minor child or even a spendthrift relative?
8. Is there a need for a guardian to be appointed over property or the person of minor children or incompetent persons?
9. Do you want to select a personal representative (executor) to handle the administration of an estate?
10. Have you considered the possible tax consequences to the estate without a will and to the beneficiaries, devisees or heirs?
11. Do you want any tax owed including state inheritance taxes to be paid out of specific bequests?
12. What powers and authorities do you wish to bestow on the executor, guardian or trustee?
13. If married, and the couple die in a common accident, have the consequences to their respective estates been considered?
14. Are you aware that probate files are open to the public?