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The Significance of a Living Will in Estate Planning in New York
Estate Planning

Living Will NY (2025)

The Significance of a Living Will in Estate Planning in New York: Planning for 2025 and Beyond While estate planning often centers on financial assets

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How Much Does Estate Planning Cost?
Estate Planning

How Much Does Estate Planning Cost?

How Much Does Estate Planning Cost in New York? Understanding Fees, Options, and Value When considering estate planning, one of the first questions people ask

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NY Will & Trust Lawyers
Estate Planning

Lawyers for Wills and Trusts

Navigating Wills and Trusts: Why You Need Experienced Lawyers in New York Creating a comprehensive estate plan is crucial in protecting your assets, providing for

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Elder Law Attorney in New York
elder law

ELDER LAW ATTORNEY

The Role of an Elder Law Attorney in New York: Protecting Seniors and Their Futures As individuals age, they often face unique legal and financial

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Probate NYC Lawyers in 2025
Estate Planning

Probate NYC Lawyers

Probate Lawyers in NYC: Navigating Estate Administration in 2025 The loss of a loved one is a difficult experience, often compounded by the complexities of

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Revocable Trust NYC
Estate Planning

Revocable Trust NYC

Revocable Trusts in NYC: A Comprehensive Guide for New Yorkers Planning for the future is a critical responsibility, and for many New Yorkers, a key

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Will Lawyer New York
Estate Planning

Will Lawyer New York

Navigating Wills in New York: Why You Need a Skilled Will Lawyer Planning for the future often involves difficult decisions, but few are as important

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Will Lawyer NYC in 2025
Estate Planning

Will Lawyer NYC

Will Lawyer NYC in 2025: Your Guide to Secure Estate Planning Planning for the future is a responsibility we all share. In New York City,

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Estate Planning explained
Estate Planning

Estate planning explained

New York Estate Planning: A Comprehensive Guide for 2025 Estate planning, a vital aspect of responsible adulthood, involves preparing for the management and distribution of

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Child & Estate Planning
Estate Planning

Child & Estate Planning

Protecting Your Children’s Future: Child and Estate Planning in New York As a parent, securing your children’s future is paramount. This extends beyond providing love

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Probate attorney near me in New York 2025
Estate Planning

Probate attorney near me

Navigating Probate in New York: Finding the Right Attorney Near You (2025) Probate, the legal process of administering a deceased person’s estate, can be complex

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Wills vs. Trusts in NYC: Choosing the Right Estate Plan for You
Estate Planning

Wills and Trusts NYC

Wills vs. Trusts in NYC: Choosing the Right Estate Plan for You Regarding estate planning in New York City, a fundamental decision arises: Will a

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Protecting yourself and your partner
Estate Planning

Protecting yourself and your partner

Protecting Yourself and Your Partner: A Comprehensive Guide to Estate Planning in New York At Morgan Legal Group, we understand the complexities involved in safeguarding

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The importance of a living will
Estate Planning

The importance of a Living Will

Why a Living Will Matters in NYC: Your 2025 Guide As we move further into 2025, advanced healthcare planning has become more critical than ever,

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When it comes to estate planning, people end up falling victim of certain mistakes. A mistake can be so costly such that it plunges the surviving family into confusion and bitterness. In the end, your surviving family would be angry at you for not putting better plans in place. To ensure you protect the happiness and financial future of your family, you need to have an estate plan devoid of mistakes.

And the best way to avoid costly mistakes when estate planning is to work with an experienced estate planning attorney near you.

Estate planning attorneys Buffalo, NY 14260

For help with estate planning in Buffalo, NY 14260, Contact our office to speak with one of our estate planning attorneys near you.

Top estate planning mistakes to avoid

1. Not creating a will because your assets are few

When you die without creating a will, it is known as dying intestate. Your wishes will not be known, and your estate, no matter how small, will be distributed according to what the court says. There is a predetermined outline on how it will be distributed among your spouse and children. Hence, the money in your account, the car or the house will not go to who you would have wanted or who is most deserving of it.

It would be enough if that were the only issue. The greatest issue is that when your wishes are not known, it gives room for your family members to squabble for assets. They may fight over the real property, suing one another to court. This causes bitterness when your family should be mourning your loss.

2. Doing DIY estate planning

It is tempting to do estate planning yourself in order to save cost, but this step may prove even much costlier in the end. By going it alone, you would not be able to employ those strategies known only to the experienced estate planning attorney. You may not be able to plan for tax, and you may make mistakes that become costly in the long run. For this reason, you’re always safer working with an experienced estate planning attorney.

3. Failing to carry out incapacity planning

Many people write their wills well but fail to plan for incapacity. They think all there is to estate planning is drafting a will but that’s not the case. In the event you become incapacitated in the future due to old-age, a severe illness, or something like Alzheimer’s, who would manage your financial affairs for you? If you do not plan for that now, there may be many family members fighting to take your place and make decisions in your stead. There would arise conflict of opinions. It’s better to plan now by appointing a competent and trusted individual who would make financial and healthcare decisions on your behalf in such an event. For incapacity planning, you can create either a power of attorney or a living trust.

4. Not remembering to update your estate plan

Many people create their estate planning documents and then keep them in a cupboard until the inevitable happens. But the truth is that people experience life changes as life goes on. You may get divorced, remarry, get new children, grandchildren, or even lose your beneficiary or fiduciary. You would have to reflect such changes in your estate plan as they occur. It’s important you address the new assets and new beneficiaries, while removing those you’ve lost. If these changes are not reflected, your newly gotten loved ones may be left out of the inheritance.

5. Not opening up to your estate planning attorney

If you’ve made the great decision to get help from an attorney, then you have to open up to them. Discuss your personal goals and estate situation as it is with this knowledge they’ll create your estate plan. They can only make suggestions based on the information you provide them. If you keep things from them, then they may not be able to provide you enough coverage for all your concerns.

Contact our estate planning attorneys 14260

Our estate planning attorneys are a team of highly-skilled attorneys helping New York clients navigate matters of estate planning and administration, probate, and litigation. If you need the help of a New York estate planning attorney in Buffalo 14260, kindly contact our law office today.

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