Bonnie L. Mohr, Attorney at Law
Proper Estate Planning is crucial. Proper estate planning can help you do more than
avoid unnecessary estate tax consequences.
Last Will & Testament– A will can determine the disbursement of your assets, name the
executor of your estate and provide a guardian for your children. More importantly, a
will can eliminate the uncertainty and family conflict in probating your estate and
distributing its assets.
• Revoke all prior wills and codicils
• Direct that all funeral expenses be paid
• Give gifts and bequests
• Name Executor and Successor Executor
• Name Guardian for Children
Power of Attorney – The Power of Attorney gives your attorney-in-fact authority to act
on your behalf. In executing a power of attorney, you determine which powers to grant
your attorney-in-fact. Properly used, a Power of Attorney can help you avoid an
expensive and instrusive guardianship proceeding.
New York has recently amended the Power of Attorney. The new Power of Attorney
allows for a monitor, compensation of agent in your discretion and limitations on gift
giving powers. If you already have a Power of Attorney, you may want to consider
executing a new Power of Attorney.
• Name Attorney in Fact
• Name Successor Attorney in Fact
A power of attorney can give authority for
• Real estate transactions
• Chattel and goods transactions
• Bond, share and commodity transactions
• Banking transactions
• Business operating transactions
• Insurance transactions
• Estate transactions
• Claims and litigation
• Personal relationships and affairs
• Benefits from military service
• Records, reports and statements
• Retirement benefit transactions
• Making gifts
• Tax matters
• Access medical information
• All other matters
• To delegate the foregoing powers
• To make a disclaimers for estate tax purposes
Living Will – The Living Will allows you to make decisions regarding the treatments
listed below if you are in a terminal condition, permanently unconscious or conscious
but have irreversible brain damage and will never regain the ability to make decisions
and express your wishes. You may also provide further guidance regarding your health
care by giving other instructions.
• Cardiac resuscitation (CPR)
• Mechanical respiration (breathing machine)
• Invasive form of nutrition (food) or hydration (water)
• Blood or blood products
• Surgery or invasive diagnostic tests
• Kidney dialysis (kidney machine)
• Chemotherapy
• Radiation treatment
• Antibiotics.
• Maximum pain relief.
• Other instructions
Health Care Proxy – A health care proxy make decisions for you if you are unable to do
so. The health care proxy must act in accordance with your decisions expressed in the
living will or as they are known to him or her by clear and convincing evidence.
• Name Health Care Agent
• Name Successor Agent
Trusts - You may also want to consider a trust. In addition to its usefulness for avoiding
unnecessary estate and gift taxes, a trust is a very powerful tool. A trust can allow you
to control how your estate will be distributed with greater control, protect your estate
assets from your beneficiaries creditors and distribute wealth over several generations.
Estate Planning
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