Top misconception about Estate Planning

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Top misconception about Estate Planning
  • I would wait till later before creating an estate plan.

Many people also hold the belief that you should only do estate planning when you’re old and looking towards end-of-life. You need to consider what might happen in the shortest time, and particularly the present. Consider the following; you have a family or one or more relative, you have an asset in Manhasset or other state in the New York, you have kids, or you want to handle an aspect of your health or finances; then you definitely need an estate plan.

  • Estate plan is only for the rich and mighty

Some people firmly believe that estate planning is only for the wealthy ones with millions of dollars, corporations, and mansions. Therefore, they do not plan saying, “after all, all I have is a car and a house and some money in my bank account. What do I need estate planning for?” Nothing can be more false. So long you have some properties in your name and people you would want them to go to, you need estate planning.

  • I can make estate plans all by myself.

Now, this is where many people get it wrong. As far as you can handle your will for a simple estate, it would not be advisable to DIY when you have complicated matters to consider which you may not even be aware of. You may need professional advice from an experienced estate planning attorney to know what decisions to make. It costs less to get professional advice than have your attorney draft all your documents themselves. To speak with an estate planning attorney Manhasset NY, call us today.

What would an estate planning lawyer do for you?

An estate planning lawyer can help with anything related to estate planning. What is it that you need? Do you want to create a trust or is it a power of attorney? Name them! An estate planning attorney can be of great help. However, to ensure that everything is done smoothly, always ensure that you hire a competent estate planning lawyer Manhasset, New York.

An estate planning attorney can help with several aspects of the estate planning process. An estate planning attorney can help you create a will that mirrors all your intentions regarding your assets. This professional can also provide you with valuable advice concerning how you should plan your estate; create your will, etc.

Below is a breakdown of what an estate planning attorney can do for you:

  • Help plan an estate that avoids probate
  • Give you valuable advice regarding their choices and decisions
  • Help create a trust
  • Update your estate plan when needed
  • Draft an estate plan that conforms to your wishes
  • Tell you how to secure your estate planning documents
  • Help you find the best legal way to avoid overpaying estate taxes

Benefits of Estate planning

There are several people out there who believe that they don’t need an estate plan, they believe that an estate plan is only for the wealthy. The fact remains that estate planning is for everyone and if you fail to plan your estate, you may be hurting your future and that of your family, inadvertently. Moreover, planning an estate comes with several benefits and below are a few of them:

  • Helps in the management of a person’s property in the event of incapacitation
  • Helps enable the proper and easy distribution of the deceased’s assets
  • Helps to safeguard beneficiaries
  • Helps reduce estate taxes
  • Helps reduce cost and prevent rhubarb
  • Helps accelerate the transfer of a person’s assets

Bottom line

Estate planning attorneys can draft an estate plan that makes everything easy for your family; no probate, no huge estate taxes or anything that can cause complications for them. We all hold our family at high esteem. In fact, one major reason why people create an estate plan very early is because of their family. You see, to create an estate plan that can protect your family, you need to hire a competent estate planning attorney.

Estate planning can be complicated; it is not one of those basic DIY tasks. If you fail to make a good estate plan, you may be risking the future of your family as well as properties. You need to hire an estate planning Lawyer Manhasset New York for your estate planning projects.

Contact an Estate Planning Attorney Manhasset NY today.

The city of Manhasset, NY, boast of several estate planning attorneys. However, to find the best you must be willing to dig deep. Well, you don’t have to do that anyway because we can provide you with the best estate planning attorney for your estate. Please, contact us so we can provide you with the best estate planning attorney for your estate.

DISCLAIMER: The information provided in this blog is for informational purposes only and should not be considered legal advice. The content of this blog may not reflect the most current legal developments. No attorney-client relationship is formed by reading this blog or contacting Morgan Legal Group.

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