While it may not be the most popular topic to discuss and deal with, estate planning is important for the continuity of your assets and your loved ones’ well-being after you die. There are plenty of horror stories out there about ownership issues and family disagreements over wealth that was not delegated before a loved one’s passing. Many people feel that their surviving family members can handle their affairs when they are gone. However, history tells us that this is most often not the case and that even the most basic plan can prevent many problems and family disagreements.
Some people falsely believe that they don’t need an estate plan. However, nearly everyone should have a plan in place as most of us have assets. These may include investments, retirement savings, insurance policies, real estate or business interests. Estate planning is not just about what happens after you pass away. Aside from death, there are other unpleasant things that could happen including accidents and injury, which could result in you being unable to manage your own affairs.
It is not necessary to spend countless hours sifting through endless options when planning your estate. An attorney can provide you with valuable advice to help you determine who will receive your assets when you die. When you work with an estate planning lawyer, he or she will become familiar with your goals, concerns and assets to properly organize your final affairs so that your goals are met. Proper planning will ensure that your assets make a smooth transition into the hands of those you love.
An Estate Planning Attorney Queens can also help you choose beneficiaries and plan for the care of your minor children. He or she can help you alleviate tax burdens by providing you with information regarding things like charitable contributions. In short, a reputable estate lawyer will take the time to walk you through the rather confusing process of setting up your final affairs to ensure that your best interests are met, as are those of your loved ones when you pass away.
It is never too early to put an estate plan in place — but it can be too late. Unfortunately, it is common for families to be left confused, angry and divided when a loved one has passed and has not planned his or her estate. Worse yet, minor children and disabled dependents often end up being split and put under the care of strangers. Regardless if you are starting your career or are about to retire, now is as good of a time as any to plan your estate.
You never know what is going to happen tomorrow, but when you have your affairs in order, you will be as prepared as possible for the unexpected. Estate planning allows you to secure your future and the future of the people you care the most about. It is essential to carefully plan your estate so that your surviving loved ones are not left to pick up the pieces when you die.