ESTATE PLANNING

Estate Planning

What You Need To Know 

Towards the end of your or your loved one’s life, it is important to meet with an estate planning attorney to make arrangements for the management or the disposal of that person’s estate. If you live in or around Hamburg or the Western New York area, that attorney to trust is Attorney Walling of the Law Office of Mark R. Walling. Attorney Walling will make sure that you are completely happy with the plan to manage your estate, the guardianship of minor children, and any beneficiaries. 

Estate planning often overlaps with elder law, which can help clients plan for things like retirement and long-term care. 

Guardianship vs. Power of Attorney

Power of Attorney

The power of attorney estate planning document allows a person you appoint to act in place of you for financial purposes when and if you ever become incapacitated. There are many levels of which you can grant the person power over your affairs. We will help you create a plan that you are most comfortable with. 
Guardianship

Guardianship is a legal relationship between a person who is no longer able to take care of their affairs and someone who becomes their “guardian.” You will appoint a guardian who is then authorized to make financial, legal, and health care decisions for you. 
Being under guardianship allow you less freedoms than you are used to. As a result, guardianship is often imposed only when a power of attorney has been tried and was proven to be ineffective.

Please note that this is distinct from the guardianship of minor children whose parents can no longer care for them. In that case, parents can choose to name a guardian in their estate planning documents. The children will pass out of guardianship once they reach the age of legal majority.
Share by: