After death, you assets wouldn’t be passed to your family as it were centuries ago. After your death, your assets will be distributed based on your will. If you died without creating a will, your assets will be shared based on the intestate law of the state you reside in. Thus, it is very important you plan your estate before it is too late.
What is an Estate Plan?
Estate plan is a plan made to ensure that your assets are well managed and distributed after your death. An estate plan can also cater to your needs should you become unable to make crucial decisions for yourself. With an estate plan, you can create a trust for your beneficiaries. You can set up power of attorney or a healthcare power of attorney for yourself. You can also draft a will which contains how you want your estate to be distributed, whom you want it to be distributed to, the portion each beneficiary is to receive, including other significant information regarding your estate.
Estate planning is very important
To you estate planning may seem like a mere plan for old people. However, the truth is that estate planning is a very important plan and it is meant for anyone who wish to protect his or her assets and ensure that it is transferred to the right hands. Of course, this doesn’t mean that estate planning is for everyone, including teenagers. You are become eligible to plan your estate once you become an adult.
As I said, the best way to secure your assets and ensure that they get to the right hands is by planning your estate. As side that, the best way to ensure that you are well taken care of during incapacitation is by planning your estate. An estate plan, especially one that consist of all the important estate planning components, comes with several benefits,
Failure to plan your estate could be bad for you (when you get incapacitated) and bad for your family and loved ones after your death. So, would you let your family and loved ones suffer or make your estate plan?
Who are estate planning Lawyers?
An estate planning attorney is an experienced and licensed lawyer who helps individuals plan their estate. An estate planning lawyer has a thorough understanding of the state and federal laws that effect how your estate will be managed, taxed, and distributed to your designated beneficiaries. This professional has the experience needed to guide your beneficiaries or estate executor through the difficult probate process.
If you need honest advice regarding certain issues about your estate, you can always trust an estate planning lawyer to provide you with the best advice.
Why Hire an Estate Planning Lawyer?
When your car develops a major fault, do you fix it yourself or take it to the mechanic? When your heating system becomes faulty do you fix it yourself or let a professional handle it? So why create an estate plan yourself when you know it’s the job of a professional estate planning attorney? I understand that the cost of hiring an estate planning lawyer may motivate you to embrace other cheaper options like the numerous online estate planning tools that crowds the internet.
However, it is important you know that estate planning is not a plan you should joke with. In addition, not all estate plans can be made using online estate planning tools. For instance, if you own a company or a large estate, it is best you hire a competent estate planning attorney. In addition, if the circumstance surrounding your estate is complex, you shouldn’t embrace online state planning tools. Instead, consult an estate planning Lawyer Long Island, if you reside in the state.
What can an estate planning lawyer do for me?
A competent estate planning lawyer can assist you with a range of estate planning tasks. An estate planning lawyer can help you in drafting a valid, will; that is, one is in line with the estate law of your state. In addition, an estate planning lawyer can also help you create the following estate planning documents:
- Power of attorney
- Healthcare power of attorney
- Beneficiary designation
- Trust
Contact an estate planning lawyer, Long Island, and plan your estate now!
