What is required to have my son take care of my estate? 8 Answers as of April 29, 2011Is there any special regulation I need to follow if I want my son to be the administrator of my estate? He has essentially been my caregiver since I was put on disability last year, and I want to see to it that he has control of my funds.
Burnham & Associates | Stephanie K. Burnham
There are two ways in which you can have your son manage your affairs. First you can make your son your Power of Attorney, authorizing him to handle your financial affairs. Second, you could ask the Probate Court to appoint your son your Conservator, authorizing him to handle your financial affairs with Court supervision.
Answer Applies to: New Hampshire
Theodore W. Robinson, P.C. | Theodore W. Robinson
Hello, First, you should have a Will drawn up so that your Estate is taken care of the way you want it done after you pass. Second, for now, you should give him a Power of Attorney to handle your affairs while you are alive, just as if he was you. Third, you should have a Living Will and a Health Care Proxy drafted for you and signed so if you are unable to give directions due to illness, the doctors will know what you want done for you. I suggest you have the entire Will signing and Power of Attorney, etc. videotaped while you sign the documents so there is no question of your intentions and your operation of mind to make such decisions which will cut any Will contest down completely in the event any of his siblings contest the proceedings later.
Answer Applies to: New York
The Schreiber Law Firm | Jeffrey D. Schreiber
Depending on your state, to best way to ensure your son is the administrator (also known as the executor) of your estate, you need to have him named in a will as the administrator/executor or by creating a trust and naming him as the trustee of a trust. Otherwise, the absent a will or a trust, the Court can appoint the person. If you do not create a trust and make him the present trustee of the trust, while you are living, you should have him named as the agent in a durable power of attorney to take care of your financial affairs. You should consult with a professional as to the language in the power of attorney to make sure you grant the powers you want him to have and to be properly advised as to what giving your son power of attorney means regarding your ability to have input into any use by him of your finances.
Answer Applies to: California