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The death of someone close, or the onset of a serious illness, is always a tragic circumstance. Sometimes, emotions can get the best of even the strongest people, making it difficult for them to make informed financial and legal decisions. Proper estate planning, minimization of estate tax exposure and preservation of wealth through long term care planning, are all important concerns.
Although it is not pleasant to think about, providing for your own care in an emergency and providing for the care of those you leave behind are important responsibilities of life. Having an up-to-date Will, Living Will, Health Care Proxy and Power of Attorney ensures that your wishes are carried out. Each of these important documents serves a different legal purpose and together constitutes a complete plan. For example, a Will provides that your children are cared for by a guardian of your choice and that assets are passed on to those you wish with a minimum of tax consequences. A Living Will provides direction as to your desires in the event of certain medical situations such as the need for life support. However, not all medical circumstances can be predicted and provided for beforehand. Therefore, appointing a Health Care Proxy who knows your wishes and can make medical decisions on your behalf is vital. Christine R. Shiebler and Floyd Sarisohn have the knowledge and experience to guide you through this important decision-making process.
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