Dear Cari, I have a New York Power of Attorney. It states that my “Agent” can have reasonable compensation. What does this mean? Miss C Miss C – In New York, an agent appointed in a Power of Attorney is entitled to reimbursement for reasonable expenses incurred on the principal’s behalf (you are the “principal”, Miss C). If a …
Breaking Down the Basics – Some Farm Estate Planning Definitions
Knowing these basic estate-planning definitions may be helpful in any conversation you may have with an estate planning professional: A Last Will and Testament (usually just called a “will” for short), is a document that gives your directions on what to do with your property when you die. It takes effect only after you have actually died, and it must …
Conversation Starters about Estate and Succession Planning for Farms
Don’t be afraid to have open and honest conversations with your family about estate and succession planning. “The only thing certain in life is death and taxes,” Ben Franklin famously said; so let us not make the topic taboo. In order for a farm or agri-business to successfully pass to the next generation (if that is what you want), …
Overview of Common Estate Planning Documents for Farms
Despite popular belief, the succession and estate planning process is more than just getting a Last Will and Testament – it’s taking a solid look at your estate planning goals and coming up with a plan that works for you and your family farm (no matter the size). I think it’s really important for family farms to “improve the default …
New York Estate Planning, Medicaid & Trusts
Happy New Year’s Eve! For those of you thinking about your New Year’s Resolutions for 2013, I recommending getting your estate planning in order. Kudos goes out to Daniel Timins, a law school classmate of mine, for putting together some excellent New York estate planning and medicaid presentations. This presentation gives a nice overview of New York Medicaid. The presentation …
Estate Planning is More Than Just Getting a Last Will and Testament
Many people think that “estate planning” is really just hiring a lawyer or downloading a program off the internet (which I do not suggest) to draft a Last Will and Testament. However, it’s more complicated than that. A good estate planning attorney will have you complete a questionnaire giving him/her information on your family tree, assets and liabilities in order …
Looking For New Year’s Resolution? How About Disaster Preparedness
Okay, so it’s not the most exciting New Year’s Resolution but it may be a whole lot more doable than dropping 30 pounds in 2012. On page 5 of this month’s Grassroots newspaper by New York Farm Bureau (“NYFB”) includes a nice submission by A. Edward Staehr of NY FarmNet about coping with a disaster (including grief counseling, recreating lost …
My Top 10 Law Blawgs in the Top 100 List (Drumroll please….)
To piggy back on this post announcing that this blog made the ABA Journal Top 100 Blawg List, I thought it would be appropriate to list a few of my favorites. Here are my top 10 (in no particular order): 1. Equine Law Blog – Alison Rowe, a fellow agriculture attorney, is an exceptional writer and brilliant equine lawyer in …
What Should Be Kept Within a Fire Proof or Safe Deposit Box?
Your safe deposit box should have original papers while photocopies should be kept at home. For example, original birth certificates, marriage certificates, death certificates, divorce decrees, deeds, titles to automobiles, citizenship papers, adoption papers, veteran’s papers, and contracts (e.g., partnership agreements) should be kept in a fire proof box while photocopies should be kept at home. Furthermore, I recommend keeping copies …
Where is Your “In Case of An Emergency” Information?
Rincker Law, PLLC provides clients with an estate planning binder so clients can keep photocopies of their Last Will and Testament, Power of Attorney, Health Proxy, Trusts, and information regarding assets. I also recommend that clients complete this information sheet and include it in the estate planning binder. Furthermore, I also think it is a good idea to complete the …
Saturday Links
It’s been a busy week. I have been catching up on my blog feed before heading to the gym. This is what I found: This month’s Pennsylvania State Agriculture Law Brief has updates on the G-20 Action Plan, Hydraulic Fracturing, and the White House Rural Council. I excitedly received a Google+ invite this week from a respected family law …
Saturday Links
Had a nice Saturday afternoon catching up on my RSS Feed. This is what I found: What are your thoughts regarding genetic biodiversity in our food system? The G-20 Agriculture Ministers made an action plan last week to help mitigate hunger & food price volatility around the globe. Let’s take the Taboo out of end-of-life conversations. We are all going …