Currently, Attorney Steven York only offers estate-planning services to our existing clientele.
Depending on each client’s circumstances creative management of the recovered compensation may be necessary or advisable. Many options exist for what to do with such funds to protect the best interests of the client. For example, in the case of a personal injury recovery where the claimant or Plaintiff is a minor, the Court will likely order the net proceeds of a personal injury settlement or jury verdict recovery to be transferred into a premium deferred, structured annuity or other savings account that can earn interest, often tax free, for the benefit of the child until that individual reaches adulthood. If the client is the subject of a conservatorship where the Court has appointed a guardian ad litem, Mr. York can assist in the creation of a trust for the benefit of such an individual, again, often at the Court’s direction. Likewise, if the client is disabled or otherwise receiving benefits, Mr. York can advise and assist the client on what options may be available to avoid losing such benefits as a result of the personal injury settlement or jury verdict compensation and recovery from the lawsuit. Further, the client may simply want to make best use of the funds and ensure the funds are shielded from any potential personal liability or that the funds are invested wisely for the security and benefit of the client or client’s family.
Whatever the case, Mr. York will be knowledgeable and able to assist and advise the client on what options are available and best suited for the individual circumstances of each claim.
Will
A will is a legal declaration, specifying one’s intended disposition of their property upon their passing. It allows one to nominate a person one wishes to act as the executor for the estate. Creating a will is the first step one must take to ensure one’s estate is managed in accordance with one’s wishes.
Trusts
Trusts may be revocable, sometimes known as a “Living Trust,” or irrevocable. Both include a number of elements that detail the assets held within, designating one’s beneficiaries, and nominating a trustee to manage the trust assets and income for the economic benefit of its beneficiaries.
Durable Power of Attorney
A Durable Power of Attorney for Property (DPOA) enables one to designate someone to make financial and legal decisions on their behalf should they become unable to do so themselves, an example would be due to incapacitation from a health issue or mental incompetency.
Guardianships
If one has minor children, a will allows one to make decisions about their future care. This is especially crucial if one is a single parent or if both parents die in a single incident. One can also make arrangements for their pets’ care in one’s will, including naming a guardian to take responsibility for one’s pets.