New York estate planning lawyer Yana Feldman (https://yanafeldmanlaw.com/estate-planning-for-young-adults/) of New York Legacy Lawyers has recently published an enlightening article. The piece addresses the often-overlooked importance of estate planning for individuals as soon as they turn 18, emphasizing the need for advanced directives and other key legal documents.
New York estate planning lawyer Yana Feldman highlights that while many people associate estate planning with older age, it is crucial for young adults to consider their future legal and financial security. “As soon as we turn 18, we are considered legally responsible for our own decisions in terms of finances and health,” Feldman explains. “This means that parents lose their legal authority over their child and are no longer able to access their health or education records or assist in managing their affairs.”
In her article, New York estate planning lawyer Yana Feldman stresses the importance of having a plan in place to alleviate stress and confusion for both the young adult and their loved ones. She advocates for the assistance of a legal professional to navigate the complex issues involved in estate planning and help ensure all necessary documents, including advanced directives, are in order.
Advanced directives are critical for young adults, as they allow them to designate a trusted person to make important decisions on their behalf in the event of sudden incapacitation or unforeseen circumstances. Feldman outlines the benefits of these directives, such as designating a trusted individual to manage health and financial decisions, specifying treatment preferences, ensuring wishes are respected, and preventing delays in care. “Advanced directives provide clarity and security for young adults and their families in unforeseen circumstances,” Feldman notes.
The article discusses the specific documents included in advanced directives: power of attorney, health care directives, FERPA authorization, and HIPAA release form. Feldman emphasizes the importance of these documents in ensuring that young adults’ financial and legal matters are handled according to their wishes without the need for court-appointed conservatorship or guardianship.
Feldman also discusses the significance of a mental health power of attorney, a legal document that allows an individual to appoint a trusted agent to make mental health treatment decisions on their behalf. This is particularly important for those with a history of mental health issues who want to ensure their treatment preferences are followed. “The agent appointed can make decisions about the principal’s mental health treatment, including consent to or refusal of treatment, and decisions about hospitalization, medication, and therapy,” Feldman explains.
Additionally, the article covers health care directives and HIPAA release forms, which provide instructions for family and medical professionals in the event of a medical emergency. Feldman advises that these documents should be set up in collaboration with parents or legal guardians and an estate planning attorney to ensure they work as intended.
For young professionals, estate planning is equally essential. Feldman points out that many young professionals neglect this aspect of their future due to their perceived lack of assets, single status, or good health. However, she emphasizes the necessity of creating a power of attorney and advanced directives for healthcare to avoid guardianship and ensure their medical and financial decisions are respected.
For young adults and professionals looking to secure their future and protect their assets, working with a knowledgeable New York estate planning lawyer can make a significant difference. Feldman’s article provides a comprehensive guide to understanding the importance of estate planning and the necessary steps to take.
New York Legacy Lawyers encourages young adults and professionals to read Yana Feldman’s complete article to gain a deeper understanding of estate planning and the legal considerations involved. Taking proactive steps and seeking legal guidance can ensure a secure and well-planned future.
About New York Legacy Lawyers:
New York Legacy Lawyers is a New York-based law firm dedicated to providing comprehensive legal services in estate planning, probate, and elder law. The firm is committed to helping clients navigate the complex aspects of legal planning and protect their future. With a focus on personalized service and strategic solutions, New York Legacy Lawyers strives to safeguard the interests of its clients and their families.
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