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Estate Planning Attorney Queens NY
Estate Planning

Estate Planning Attorney Queens NY

What is estate planning? Estate planning refers to plans and strategies put in place to facilitate the efficient management and distribution of one’s possessions during

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The future of estate planning
Estate Planning

The future of estate planning

Why Estate Planning: Estate planning is chance to survey your home and see how it can effect laws at both the state and government level.

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probate attorney near me 10004
Estate Planning

Probate attorney near me 10004

If you are considering creating an estate plan, then that really is a topic worth considering. But you probably have a lot of questions running

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Medicaid Planning
PRACTICES

Medicaid Planning

All About Medicaid Planning in New York Welcome to Morgan Legal Group P.C., your trusted source for in-depth information on Medicaid Planning in the state

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How Probate Court Happens
Estate Planning

How Probate Court Happens

What is Involved in Probate Court? A probate court takes after another court in the lawful structure beside that it oversees matters like estates, wills,

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Private Client counsel arrives at Dentons
Estate Planning

Private Client counsel arrives at Dentons

An attorney with broad domain arranging, probate homes and business arranging experience has joined Dentons in Kansas City. Patricia Lincoln, who has joined Dentons’ trusts,

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Casey Kasim’s Estate Plan Battle
Estate Planning

Casey Kasim’s Estate Plan Battle

Drama Behind Kasim’s Death Casey Kasem, the superstar radio personality and natural voice actor left behind a fortune and a family fight. A fight between

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Local Probate Lawyer
Estate Planning

Local Probate Lawyer

As the old saying goes, you can’t take it with you upon your passing. But a probate lawyer can help surviving family members pay off

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Contesting a Will in New York
Estate Planning

Contesting a Will in New York

The need for contesting a will in New York comes up when one party benefiting from the will is not satisfied with the will. This

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An estate plan contains instructions on how your assets are to be managed and distributed after your death. When you die, your properties will need new owners. An estate plan is the only way to ensure that the right persons inherits all that you have worked for. With an estate plan, you can assign an estate executor, the beneficiaries of your estate, the guardian for your minor children, etc.  One can easily define an estate plan as plans made in preparation of one’s death.

You are said to die intestate if you die without an estate plan. When this happens, it is the duty of the government to oversee the transfer and management of your estate.

A good estate plan doesn’t just concentrate on beneficiaries, it also focuses on the estate owner, you. When making plans regarding how you ought to distribute your wealth to your family members and loved ones, it is important you consider your wellbeing as well. Should you become incapacitated without writing a will or planning an estate, you won’t have a say regarding who is to make crucial health care decisions while you remain incapacitated

Estate planning and wills

There is this common misconception that estate planning is all about drafting wills. A will is a very small but significant aspect of estate planning.

An important estate planning tool is your will. It contains instructions about your assets. They are instructions regarding

  • Your properties
  • Burial arrangements
  • Estate beneficiaries
  • Your estate administrator

Drafting an estate plan

Creating an estate plan is not as difficult as many people think. Of course, whatever plans you make has to conform to the estate planning laws of New York. You can contact an estate planning Attorney for assistance and advice when planning your estate.

How you wish to plan your estate will depend on a few factors, namely:

  • The type of assets involved
  • The individuals you wish to share your properties to
  • Any other unique consideration

Before you make plans regarding your estate, it is very important that you carry out an inventory of your assets. This will help you know the actual value of assets which is very vital to your plans. In planning your estate, you may consider offering your non-liquid assets like your real estate to your beneficiaries, but ensure that you take note of the fair value of all your assets for planning reasons. Aside from taking note of their value, you must also take not of how some assets are named. For example, accounts that have the title of a selected beneficiary will be passed directly to the individual after your death, and it will not be seen as a part of your will. This is a very effective way to avoid probate.

After you must have had a clear understanding of your estate, you can then proceed with your plans. Ensure that you make plans that cover your retirement, health care, including other long-term needs should you become incapacitated. After making such plans, you can then decide on who you feel is worthy to inherit your assets. At this crucial junction, you may want to involve an estate planning attorney to talk about the options you have.

There are some estate planning tools (trusts and wills) that play a crucial role in the success or failure of your estate plan. If you utilize these tools appropriately you should have a topnotch estate plan, one that ensures that your assets are managed and the way you want them to.

Estate Planning Lawyer

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

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