Hurricane Sandy and Planning Ahead

Hurricane Sandy has been a very harsh reminder that life can change in an instant, and that the unexpected can bring great difficulty and tragedy.  Flooding, massive power outages, destruction of homes, illness, and death all resulted from Sandy.  The repercussions from  this storm will be felt for a very long time.  There are important lessons to be learned here about planning ahead – not only for the immediate future, but also for the long-term.

Estate planning is one of those things that many people put off.  But, it’s really something that’s best done sooner rather than later. For example,  if you have small children, selecting a guardian and establishing a trust or custodial account for their future financial support should be done early on.  The same applies to preparing a Living Will.  This is an important document because it enables you to give advance directives to your agent (a person of your choice) or physician regarding what life-saving measures should or should not be taken if you are near death and totally incapacitated.  And, if you have loved ones with special needs (such as chronic illness or physical disabilities), establishing a Special Needs Trust for their care and well-being may make all the difference in their ongoing quality of life.

These are just a few examples of why estate planning should be done early on.  Making sure your estate is in order and that your loved ones are cared for is important.  Planning ahead can help insure that your needs and wishes are fulfilled even when the unexpected occurs.

Getting Legal Help

Experienced Estate Planning Attorney Elga Goodman can help you understand the various issues that need to be addressed and available options in estate planning.  She can assist you in creating an estate plan that best reflects your wishes and the needs of your loved ones. Contact us today at 973-841-5111.

 

 

 

 

 

 

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