Legal Question in Wills and Trusts in New York

1. My father wants to go into a nursing, but does not want to lose his life savings/assets. He has a will in place with myself and my 2 brothers listed as beneficiaries. What is the best way to protect his money and assets? He currently resides in NJ. Should he move his money in a trust or can that still be attached? Can he gift the money to each of us? Any additional info would be appreciated.
2. My brother in NJ whom my father recently moved in with, spoke with an attorney who says whoever has power of attorney is also required to be the Executor; is this true?
Please respond at your earliest convenience. Thank you.

Asked on 3/19/13, 4:34 pm

David Slater David P. Slater, Esq.

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1. This is much to important and complicated to resolve here. Contact an Elder Care attorney. If you need a referral, call me.

2. No.

POA controls during life, Executor after death.

Answered on 3/19/13, 4:51 pm

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