Each person has an estate, which often comprises his or her vehicle, residence, real estate, bank and savings accounts, investments, life insurance, furniture, and other personal belongings. What happens to those things after your death? It can be presumed that you want to control how they are given out to the people and groups that are important to you. An estate-planning attorney can be useful in this situation and be able to create an estate plan. You will specify who will get your assets, what they will contain, and when they will be distributed.
Can an estate planning attorney help to avoid a lengthy probate procedure?
A judicial procedure called probate is used to distribute a decedent’s inheritance among their legitimate heirs and beneficiaries. This process can take up to two years probably quite expensive and is very public. When it comes to probate, there is some respite even without trust this procedure is not always required. When all of your assets are assigned to beneficiaries, probate can be avoided. Probate is very intricate, as are all of the nuances related to it. A competent Queens, NY estate-planning attorney will be knowledgeable about the probate procedure and can support your family if necessary.
Can an estate attorney safeguard your assets and your family?
An experienced New York estate-planning attorney will help you to prepare a good estate plan, which will consist of some documents. These documents make sure your loved ones do not have to go through difficulties after your demise. The estate-planning attorney will walk you through every procedure associated with estate planning such as preparing a living trust agreement, and your will. If you use the wrong word or do not sign the document, your family may not be adequately protected after your passing. You can have peace of mind knowing that everything is taken care of by meeting with an estate lawyer.
Can an estate-planning attorney help you to avoid common mistakes?
People frequently make mistakes during the procedure of nominating beneficiaries. For instance, choosing specific beneficiaries to receive your IRA or 401k can have a large tax impact. A lawyer who specializes in estate planning can also assist you to avoid the following errors:
- not establishing a will
- not carrying out the process
- Putting together a poor estate plan
By creating a thorough estate plan for you, a Queens, NY estate planning attorney can relieve some of your burdens and help you avoid spending additional legal fees, court costs, and taxes. Any savings you realized from creating your own estate plan or using an online service are wasted many times over the moment we have to appear in court to try to rectify it.
An estate-planning attorney takes care of your family’s special needs
A special needs trust must be set up properly, which involves extensive estate planning and specialized understanding. A Queens, NY estate planning attorney with experience in special needs trusts can ensure that your loved one is safeguarded and receives the advantages of your legacy to complement their inadequate governmental benefits.
Queens, NY estate planning attorney for estate planning needs
The course of life might change circumstances or even your wishes. Every time a significant life event occurs, it is crucial to update your estate plan to ensure that it still satisfies your requirements and those of your family. After a major event in your life, you should speak with a top Queens, NY estate-planning attorney to make sure that all of your legal paperwork is updated to reflect your most recent goals and aspirations.