Every day, several estate owners die without planning their estate; what a tragedy! If you die without an estate plan in New York, your estate will have to be managed and distributed based on the intestate laws of New York. This process is not straightforward. It can be long, expensive and stressful for your family and loved ones.
You don’t need to get too old to make estate plan. As soon as you become an adult you should definitely consider creating an estate document. Even if you don’t have a family or you are not married, you can still create an estate plan document for yourself. Though estate planning boast of several benefits, many Americans die without planning one. Failure to plan your estate can hurt you, especially if you become incapacitated. With an estate plan you have the opportunity to have a say over your estate even when dead.
Consider speaking to an estate planning attorney today.
Reason why you need an estate planning attorney:
Professional third party influence
Many people wrongfully believe that wills and trusts ultimately cover all their assets but this is not so. These instruments can only address properties that are in your name only without any beneficiary designation or POD clauses. For example, you may have designated John as the beneficiary of your life insurance while creating it. Your estate planning attorney will revise your estate plan, retitle assets and beneficiary designations where necessary and make other recommendations to ensure your estate plan is holistic, coherent and solid.
One significant downside of doing it alone is that due to your unskillfulness in this area, you may run into errors which can prove very costly in the future. In an attempt to save cost, you end up spending more and compromising the happiness of your loved ones when problems arise later due to the error.
Creation of suitable estate plan documents
Our estate planning attorney would help you create an adequate estate document capable of meeting all your needs. There is no one size or fit estate plan. The estate document that works for client A might not necessarily cover the needs of client B. As such, our estate attorney would take into consideration your specific before advising or proposing a particular estate document. Wills are now downloadable online. You will be told about the requirements for validity, but be aware that you are left on your own to fill in the blanks. However, when you involve an attorney, he ensures that the will is professionally established and tailor-made specifically for your estate.
Constant Update and review of your estate plan
As estate laws change as they often do yearly, there may be something in your estate plan you may need to revise. You may acquire new assets or lose some, get divorced and go into a new marriage, have more kids, etc. All of these may demand consequent changes to your estate plan since your beneficiary listing would change. If you already have an existing estate plan, your lawyer can revise all the papers to identify points where changes are required.
Defend your interest during probate situations
Probate is a court-supervised procedure carried out after your death in order to validate your will and dispose your estate. Probate in Brooklyn is typically a challenging affair for surviving families especially for large estates. It incurs so many expenses and involves a lot of paperwork and time wastage. It may drag on for a year or more before your loved ones can inherit. If you do not want this, we can help you avoid it by holding your assets in trusts other than a will.
We also provide legal guidance and representation to personal representatives executing a will or administering an estate in the absence of a will. We understand the complexities of Borough Park Brooklyn Probate and so help the personal representative to navigate the process. Our aim is to make probate as seamless and short as possible.
Contact an estate planning near you today.
When planning your estate, you may require the help of an expert. An estate planning attorney boast of the necessary skills, knowledge, and experience to walk you through the estate planning process. With the assistance of the attorney, you will plan an estate that conforms to your wishes and the laws of your state. If you live in New York and you have finally decided to plan your estate but you need advice or assistance on how to get it done easily, you can contact us. We will provide you with the best estate planning attorney.
Do you stay in Brooklyn? Contact an estate lawyer near you, today.