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Elder Law in NYC
elder law

Elder Law in NYC 2024

Elder Law in NYC 2024: Navigating Legal Challenges with Morgan Legal Group As 2024 approaches, navigating the complexities of elder law in New York City

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Probate in New York
Probate

Probate in New York 2024

Comprehensive Guide to Probate in New York 2024 As we step into 2024, the probate process in New York City continues to be a pivotal

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Estate Planning
Estate Planning

Estate Planning in New York 2024

Estate Planning in New York 2024: A Comprehensive Guide by Morgan Legal Group The landscape of estate planning in New York is ever-evolving, with 2024

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Article 81 Guardianship New York
Estate Planning

Article 81 Guardianship New York 2024

Article 81 Guardianship in New York Article 81 guardianship in New York plays a crucial role in safeguarding the interests of incapacitated individuals. As we

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Is trust better than inheritance?
Trusts

Is trust better than inheritance?

Is Trust Better Than Inheritance in New York? When planning to transfer assets to future generations in New York, individuals often decide between establishing a

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Can I do my own probate?
Estate Planning

Can I do my probate?

Can I Handle Probate on My Own in New York? Probate is the legal process of validating a will and administering the estate of a

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An Overview Of Elder Law In 2024
Estate Planning Law

An Overview Of Elder Law In 2024

An Overview of Elder Law in New York 2024 Elder Law is a specialized legal field that addresses the unique needs and challenges faced by

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How do I organize my estate documents?
Estate Planning

How do I organize my estate documents?

Organizing Your Estate Documents in New York Organizing your estate documents is a crucial aspect of responsible financial planning and ensuring that your wishes are

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Who decides if probate is needed?
Estate Planning Law

Who decides if probate is needed?

Who Decides If Probate Is Needed in New York? The probate process plays a crucial role in estate administration, but not all estates require it.

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LGBTQ Divorce in New York
Family law

LGBTQ Divorce in New York 2024

LGBTQ Divorce in New York Divorce is a complex and emotional process for anyone, but for LGBTQ couples, it can come with its own set

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Elder Law in New York
elder law

Elder Law in New York 2024

Explore the latest updates and changes in Elder Law for 2024 in New York. As we enter 2024, it’s essential to stay informed about the

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Probate and estate planning

If you die without preparing an estate plan, your estate will have to undergo probate before your asset can be approved for distribution. Probate is done for several reasons and one of those reasons is to determine the authenticity of a will.

The probate process is one process you don’t want your family or loved ones to go through because it can be very expensive, complicated, and time-consuming. Thus, it is advisable that you plan your estate while alive to save your family and loved ones the stress that comes with this process.

It is very crucial you note that, if you kick the bucket without an estate plan in place, your assets will be shared and distributed according to the intestate law of New York. This process is not always straightforward. Your family and loved ones will go through a lot to get a portion of your estate. Money will be spent, arguments may ensue, relationships may be damaged, there may be lots of lawsuits, etc. If you wish to prevent this from happening, then you will have to plan your estate.

When should I plan my estate?

You shouldn’t wait till you start growing white hair before you plan your estate. As soon as you get to 18, you are eligible to plan your estate. You can plan your estate at an early age an update it as time goes by.

Because life remains unpredictable, and one doesn’t know when he or she will die, it is best you get an estate plan in place so your loved ones don’t find it difficult to assess your assets.

Who is an estate executor?

An estate executor, who is also regarded as an estate administrator, is an individual chosen to ensure that your wishes regarding your estate are honored. This individual is usually someone close to the estate owner and it is his or her duty to ensure that all your unpaid debts are located and settled, all your due taxes are also settled. After your demise, it is also the job of this individual to ensure that your will gets to the surrogate court for the probate process.

Before an estate executor is allowed to execute his or her duties, the individual must first get the approval of the court. If you fail to create an estate plan, or if you forgot to state the name of your estate executor in your will, the court will have no choice but to designate an estate executor for you. The selection isn’t done randomly. The individual is always someone that is close to the deceased or the deceased family.

What is a will?

This is a significant element of an estate plan. This important documents holds information regarding the distribution of your assets, the names of the individuals you wish to inherit your properties, a list of all your assets, the name of your estate executor, plans regarding your burial arrangements, etc.

Estate planning Attorney

Due to the nature of an estate plan, and how complicated it can be, you may need the help of an estate planning attorney when planning your estate. An estate planning attorney is an expert in the estate planning process. You stand to benefit a lot if you contact one when planning your estate. They are experienced, familiar with loopholes in the estate planning process, they know the court processes well, have important resources at their disposal, and can offer you the best advice when you need one.

Estate planning mistakes exist. Sometimes these mistakes alter the intent of the estate owner regarding his or her estate. The main purpose of an estate plan is to mirror the wishes or intentions of the estate owner, an estate plan that doesn’t do this has failed. To avoid unnecessary mistakes it is best you contact a professional. Contact us, and we will provide you with the best New York estate planning attorney for your estate plan.

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