THE LAW OFFICE OF DALE J. TAMBURRO, PC

A Will is a document which, among other things, directs how your property will be disposed of after your death. The Will also allows you to choose the person or persons who you want to manage your Estate. If you do not have a Will, your property will be distributed according to the Statutory Laws of the Commonwealth, which may or may not be in accord with your wishes. Additionally, virtually anyone, including your creditors could petition the Probate Court for permission to administer your estate if you have not appointed an Executor. However, the Court usually looks to a spouse or other family members to appoint as the Executor.

Durable Power of Attorney

The Durable Power of Attorney is a written document which allows you (the Principal) to designate someone you trust (the Attorney-in-Fact) to make Personal, Business and Financial decisions for you in the event of illness or incapacity. The Durable Power of Attorney allows you to name someone who could take over your personal finances, pay your bills, sign a deed or bill of sales, sign you in or out of a hospital or rehabilitation hospital, make gifts, deal with the IRS, deal with your insurance company or stockbroker, purchase an annuity or engage in Medicaid or long term care planning on your behalf. A well-drafted Durable Power of Attorney will enable your Attorney-In-Fact to do anything you could as if you were personally present.

·          A Durable Power of Attorney can be broadly defined or it can be very specific. It depends upon what one wants or needs.

·          A Durable Power of Attorney does not necessarily take effect at the time of signing. A Power of Attorney "springs" into effect upon the principal's incapacity or disability whether sudden (an accident or a stroke) or gradual (Alzheimer's disease or mental weakness/illness).

·          A Durable Power Of Attorney should be signed while one is in good health. It is preferable to have discussed the Durable Power of Attorney beforehand and make sure the Attorney-In-Fact named in the document agrees to serve and understands what he or she is expected to do. A Durable Power of Attorney needs to be witnessed and be signed in the presence of a Notary Public.

Health Care Proxy

A Health Care Proxy is a relatively straightforward legal document that one signs designating another person to make any and all care decision for him/her in the event of illness or incapacity. The person who is appointed is called a health care agent. The agent is authorized to act only if the attending physician determines in writing that you lack the capacity to make or communicate health care decisions. The decision-making authority includes the authority to make decisions about life sustaining treatment.

Trusts

Who Needs a Trust? What kind of Trust do I need?

Revocable, Irrevocable, Realty, Family & Special Needs Trusts are all designed to aid different people. Each type of Trusts is customizable depending on what you need. Some benefits of having a trust include the following:

• Ability to avoid Probate
• Asset Protection
• Minimize Estate Taxes
• Ability to Manage Assets for Children and Grandchildren
• Ability to Manage Assets if Disabled

This office specializes in designing a Trust based on your family, assets, wants and needs.