Will and Health Proxy Planning

[Dominick]

My question involves estate proceedings in the state of: NY

Hello to everyone. I hope that this posting finds everyone well during the difficult times.

It is these times that have caused me to realize the need for a Will and Health Proxy. And unfortunately, without a family, I have no one to put in charge of such things.

How does a person in my position prepare such documents? Will a law firm that handles my will also act as my executor to see that my final wishes are carried out? Does such a firm exist?

[pg1067]

It is these times that have caused me to realize the need for a Will and Health Proxy. And unfortunately, without a family, I have no one to put in charge of such things.

How does a person in my position prepare such documents? Will a law firm that handles my will also act as my executor to see that my final wishes are carried out? Does such a firm exist?

I'm unaware of whether a law firm can act as an executor of an estate in NY, but I doubt it. Of course, a lawyer could do that. Some will. Some won't. You'd have to ask.

[L-1]

Trust companies, trust departments of banks, and individuals called professional fiduciaries, can serve as the executor of your estate. How much they charge will vary from state to state. I believe some get a percentage of the estate while others may charge an hourly rate against the estate.

I have nominated first a close friend to administer my estate. If he is not available or willing, the task goes to a relative. If she is not available or willing, a Title and Trust company is listed as the third choice.