Why You Must Have a Health Proxy -- We Draft Them for Free
Recently, we were all witnesses to a very public fight about a deeply personal issue. As each side of Terri Schiavo's family made its case in the media and before the courts, this much was clear; none of us would ever really know what Terri wanted for herself since she never committed her wishes to paper.
If Terri Schiavo lived in New York and had a health-care proxy, her wishes would have been explicit and honored. Photographs of Mrs. Schiavo before she lapsed into a coma show a lovely young woman. Obviously, she never thought this predicament could happen to her. She probably never seriously considered the issue of long-term care for herself. And, she could not have imagined that her family would disagree over her care for fifteen years, taking their dispute all the way to the United States Supreme Court.
A "simple will" is a basic legal document that details how you want your assets divided after death, and who you want to raise your children. If you die without leaving a valid will, your assets will be distributed according to New York's laws of "intestate succession," which allocate assets to a few close relatives according to a set formula. It excludes other relatives, friends, and charities whom you would otherwise like to take care of.
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For parents, the most important reason to make a will is to name a guardian for your children. In the tragic event that both parents die, a court will appoint a guardian. A will is the only way to let the court know who you and your wife would want to raise your children. If you don't name a guardian, anyone can ask the court for the position, and the court must decide without the benefit of your opinion. Worse still, when both parents die together, the likelihood is that an accident or disaster was involved. The possibility that children will receive a monetary award can turn custody battles particularly vicious.
Please be advised that if the total value of all your property, cash and other assets exceeds one million dollars, your estate will incur tax consequences. Therefore, we strongly encourage you to seek the help of an Estate Planner or Trusts and Estates Lawyer to ensure that you maximize any estate planning options that are available to you. We will be happy to give you the names of several competent specialists.
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