A good estate plan will include a medical power of attorney and a general durable power of attorney. The medical power of attorney, also known as a health care proxy, is an instrument wherein you may appoint an individual to make health care decisions on your behalf in the event that you are no longer able to do so for yourself.
A General Durable Power of Attorney provides for the appointment of a trusted individual for the management of your finances and other personal affairs, excluding decisions pertaining to your medical care. Much like a Will, these documents afford you an opportunity to voice your desires as to how you wish to live, how you wish to be treated, who you wish to have authority over your property, etc. in the event of disability.
With our thoughtful estate planning packages, we provide varying levels of protection to preserve your asset values, maximize the enjoyment of your assets, control your family's future and support the efforts of particular charities. Each package is customized to suit your unique goals, needs and finances. Due to the high federal and New Jersey estate tax rates, it is more important than ever to protect your assets from significant loss due to estate taxes. A number of trusts can be used to accomplish more sophisticated financial and estate planning objectives. If you already have a Will, we encourage our clients to review it periodically as revisions may become necessary to reflect any significant changes in your financial and personal life or changes in federal and state tax laws.