Frequently Asked Questions

A power of attorney is a legal document that grants someone else the authority to act on your behalf in financial and legal matters. This appointed individual, known as an attorney-in-fact or agent, can make decisions such as managing bank accounts, paying bills, and signing contracts. Powers of attorney can be broad or limited in scope, and they are an essential component of any estate plan. In most states a power of attorney is created by state law, so it is important to have a power of attorney that is specific for your state. At Four Corners Legacy Law in Chatham, New York, we can help you create a power of attorney that meets your specific needs and protects your interests in New York.

A healthcare proxy, also known as a healthcare power of attorney or medical power of attorney, is a legal document that allows you to appoint someone to make medical decisions on your behalf if you become unable to do so yourself. This designated individual, known as a healthcare agent or proxy, can communicate with healthcare providers, consent to medical treatments, and make end-of-life decisions based on your wishes. At Four Corners Legacy Law, we can assist you in creating a healthcare proxy as part of your comprehensive estate plan to ensure that your medical preferences are honored in the event you become incapacitated.

At Four Corners Legacy Law our goal is to have your Estate Plan signed within 6 weeks of your first meeting with us. However, that can vary depending on the complexity of your specific needs, and your responsiveness to requests for information. If you have a Revocable Living Trust Plan we will continue working with you after the documents are signed to ensure that the trust is properly funded (meaning all your assets are properly re-titled or transferred into your trust). This can take anywhere from a few weeks to a few months depending on the type of assets. At Four Corners Legacy Law, we have streamlined the process and established a system to ensure that your plan is comprehensive and legally sound. Contact us today to schedule a consultation and get started on your Estate Plan.

While a will is an essential component of any estate plan, a trust offers additional advantages that may be valuable depending on your circumstances. Unlike a will, which only takes effect after your death and is subject to probate, a trust can take effect during your lifetime and allows for the management and distribution of assets both before and after your death. Additionally, a trust can provide privacy, asset protection, and flexibility in managing your estate. To determine whether a trust is right for you, consult with Four Corners Legacy Law in Chatham, New York for personalized advice.

Getting started with Estate Planning is easy. The first step is to schedule a consultation with an experienced estate planning attorney in your state, such as Four Corners Legacy Law in Chatham, New York. During the consultation, we’ll discuss your goals, assets, and family situation to determine the best estate planning strategy for you. From there, we’ll work together to create a customized plan that meets your needs and protects your loved ones. For more information about our process, you can read about it here: https://4cornerslegacylaw.com/getting-started/how-to-get-started/

Most Estate Plans include a Last Will and Testament, Powers of Attorney for financial and healthcare matters, and Advance Directives for end-of-life care. If you want to keep your family out of probate court and out of conflict or leave a lasting legacy for your family, you may also include a Revocable Living Trust. We go a step further and include a plan and a set of documents to protect your minor children from ending up being cared for, even temporarily, by people you haven’t chosen. But documents alone are insufficient — you need a strategy, guidance on what should be in these documents, as well as an inventory of your assets so your loved ones know what there is and where to find them. We help you to ensure these documents will work together so your wishes are carried out and your loved ones are protected. At Four Corners Legacy Law, we can help you create a customized Estate Plan that meets your specific needs and goals. Want more information? https://4cornerslegacylaw.com/estate-planning/

While it’s possible to create some basic estate planning documents on your own, consulting with an experienced estate planning attorney is highly recommended to ensure that your plan is comprehensive, legally sound, and tailored to your specific needs and goals. An attorney can also provide guidance on complex issues such as tax planning and asset protection strategies. At Four Corners Legacy Law, our team of experienced attorneys is here to provide you with the expertise and support you need to create a solid Estate Plan that protects your legacy and provides for your loved ones. Contact us today to schedule a consultation!

A will and a trust are both estate planning documents, but they serve different purposes and have different functions. A will outlines how your assets will be distributed after your death and allows you to name guardians for minor children. In contrast, a trust is a legal arrangement that holds assets for the benefit of beneficiaries and can provide advantages such as avoiding probate, maintaining privacy, and managing assets for minor or incapacitated beneficiaries. Trusts can also be used for tax planning, asset protection, and charitable giving, making them a versatile tool in estate planning. At Four Corners Legacy Law in Chatham, New York, we can help you understand the differences between wills and trusts and determine which option is best for your estate planning goals. Contact us today to schedule a consultation!

Yes, Estate Planning can help protect your assets from creditors through the use of asset protection strategies such as irrevocable trusts and limited liability companies (LLCs). Certain revocable trusts can provide asset protection for your surviving spouse and heirs. These legal structures can shield your assets from potential creditors, lawsuits, estate taxes, and other financial risks, providing added security for you and your beneficiaries. At Four Corners Legacy Law in Chatham, New York, we can help you implement asset protection strategies as part of your comprehensive estate plan to safeguard your wealth for future generations.