NEW YORK ESTATE PLANNING LAWYER
Estate plans can only be executed through legal estate planning documents. Estate planning involves preparing your last will and testament, obtaining the necessary document for medical or financial power for attorney and documenting your living trust. This process can however be less complicated when you plan alongside a New York estate planning lawyer.
Asides from being an experience estate planning lawyer, they provide the necessary information for you on vital inclusions permitted in your estate plans by the state laws in New York. State laws are always specific about what should be included in a will, revocable living trust, medical or financial power of attorney. Not only that, they also decide who the trustee, health care surrogate, guardian should be, and most importantly, the formalities and process in signing a will, and observing a revocable living trust.
No mater you’re financial or health conditions, you are never too early when planning your estate, in-fact, it is expected that you start planning your estate, finances as well as the future of your loved ones if you are any of these categories listed.
- You own and manage one or more businesses,
- You have minor children or you don’t have any children
- You have a disabled family member, or you have one or more health issues,
- You are married, divorced or in a second marriage etc.
Consequently, the first step to plan you estate is to contact a New York estate planning lawyer and to start evaluating and estimating your estate and assets values. The next step would be to decide which form of estate plans that adequately fit your situation.
Why you need to plan you estate
- Planning your estate would ensure you have assets in place for your surviving family should in case of death.
- Estate plans will ensure your properties goes straight to the right beneficiaries. When your estate plans are properly written with necessary documents, there won’t be need for court settlement or family discord.
- Estate plans helps you to plan for any kind of unpredicted incapacity. Good and bad occurrences happen in life. It is your duty to manage each situation positivity, and one way to do that is to make estate plans. If you should ever become mentally or physically incapacitated, an estate plans, would outline your wishes and interest about who manages your assets, who makes financial or medical decision on your behalf.
- Estate plans helps to avoid excessive taxes on your estate. By preparing an estate plans, taxes imposed on you estate would be reduced. This can be achieved majorly through the irrevocable living trust of estate planning document.
- Planning your estate prevents probate. With the living trust which is a type of estate planning document, you can ensure that your estate plan wishes gets implemented without going through the long rigorous process of probate in court. Probate is a court supervised process of transferring assets from of a deceased to the beneficiaries.
Estate planning doesn’t begin and end with just the last will and testament. An estate lawyer would also guide you through the process of filing other documents such as trust and ensure the beneficiaries of your estate gets them. Also, in preparing for future uncertainties, it is expected that you plan alongside a New York estate planning lawyer when filing documents of high importance like power of an attorney and health care directives.
You can protect your finances and assets through the financial power of attorney. This documents allows you delegate to the person your choice the ability to manage your assets and make important decisions should you become mentally incapable.
A New York estate planning lawyer, would handle your estate plans from drafting and filing the right documents to its administration and implementation.