Considering how our estates should be managed and distributed after our death is an important decision we must make throughout our lives. This involves deciding on the distribution of assets, selecting beneficiaries, and determining if and how you wish to leave a legacy. An estate plan is a tool that consolidates these decisions, incorporating elements such as a will, trusts, living wills, healthcare proxies, powers of attorney, and specific guidelines for managing your affairs after you pass away and, in some cases, during your lifetime. Estate planning is more than just preparing for the future; it’s about securing peace of mind for you and your loved ones. At New York Legacy Lawyers, our Brooklyn estate planning attorneys understand the complexities and nuances of New York estate law. We can guide you in creating a comprehensive plan that protects your assets, respects your wishes, and provides for your family. Contact us at (718) 713-8080 to schedule a consultation. The Estate Plan Concept is for EveryoneWhen the word “estate” gets used some people immediately think of those with a lot of money or palatial property. In reality, every person has an estate. Your estate is everything that you own. It includes your valued family treasures, the silverware in your dishwasher, and your kids’ toys alike…and everything in between! Of course, it’s not just physical possessions either; it can consist of your bank accounts and insurance policies, retirement accounts, and items that you have been saving for your children and grandkids. An estate plan will help you protect all of these things, and more, giving you the ability to discern what happens to it all when you pass away. What Are Estate Planning Goals?Estate planning is a crucial part of managing assets, focusing on the effective distribution and management of your assets according to your wishes upon your passing. It is more than just the distribution of property; it involves making choices that reflect your personal values and objectives. The common goals of estate planning include:
A Brooklyn estate planning attorney understands the intricacies of achieving your unique estate planning goals. Whether you aim to protect your assets, minimize tax liabilities, or ensure a seamless transfer of wealth to your heirs, New York Legacy Lawyers is committed to guiding you through the entire process. Contact us to initiate your personalized estate planning journey today.
An Estate Plan for the Living?There are situations we’ve all experienced or watched friends go through, when a person becomes physically or mentally unable to care for themselves or even make good choices for themselves. An estate plan becomes the means for someone in that state to still have some control, albeit from decisions they’ve prepared ahead of time. While you have the capacity to make plans today, you can assign power of attorney to a specific person you trust and even include medical care instructions when or if the need arises. Should you become incapable or incapacitated, but still alive, everything you have is then protected from your actions, or from predatory strangers taking advantage of you while you are unable to understand or say, “No!” When A Stranger Has ControlThis scenario is probably the scariest part of NOT creating a plan. Without the guidance of a will, trust, power of attorney, or other aspects of an estate plan, complete strangers may be left to decide what happens to everything you have. These aren’t shady characters in back-alleys, necessarily. They are usually judges, or doctors, or other professionals. But what they likely will not be is someone who knows you intimately, understands the dynamics of your family, and has the benefit of decades of experience being you and making the decisions on your health and wealth that YOU would make. Your Estate Plan is DynamicSome choose not to develop an estate plan until they are older; this may be because they mistakenly believe that an estate plan cannot be modified once it is completed. The truth is that for an estate plan to work for you, it must be dynamic. Your estate plan should grow with you and change as the circumstances in your life change and evolve. For this reason, it’s essential that as you seek to establish your estate plan, you look for an estate planning attorney you can trust. Knowing Who You Can TrustWe have been helping people plan and manage their estate plans for over 15 years. We take the time to listen to your concerns, so we can offer the advice and guidance that will best help you develop the right plan for your family and situation. For more information or help with your estate plan, please contact us today. Enlist the help of a New York legacy lawyer to secure your family’s future. via New York Legacy Lawyers by Yana Feldman and Associates https://yanafeldmanlaw.com/why-estate-planning-should-be-a-top-priority-for-you/
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AuthorYour legacy extends beyond the material possessions you leave behind. It includes the impact you have made on your family and community, and the lasting benefit you have provided to future generations. At New York Legacy Lawyers, we understand the importance of carefully planning for the future and ensuring that your goals are carried out. With over 20 years of experience in estate planning and elder law, our attorney, Yana Feldman, is equipped to help you achieve your vision and guide you through every step of the process. FIND US ONLINE Bitly Box Diigo DropBox Evernote Postach.io Inoreader Instapaper Nimbus OneDrive OneNote Raindrop Todoist Toodledo Trello Tumblr Weebly Wordpress Blogger Google Drive Youtube Google Map Related Links About.me Behance.net Dribbble.com Taplink.cc Gravatar.com Carrd.co Minds Justpaste Issuu Linktr.ee Solo.to ArchivesNo Archives Categories |