You may have no idea as to the job and services of a Long Island estate planning lawyer until you realize how much you need one. Regardless of your age or financial status, so long you live or own assets in Long Island, it’s necessary to have an estate plan and the earlier you get that done the better. It’s true no one knows when they’re going.
Your estate plan describes what would happen to your assets at the event of your passing away. When you die without having an estate plan in place, then you and your surviving family members have no say whatsoever as to what would happen to your assets, and how it would be distributed. This is because there are state laws which dictate the manner in which the estate of a deceased person will be administered in the absence of a Last will. For this reason, you need a Long Island estate planning lawyer to help you draft your will and plan your estate according to the laws binding Long Island, to prevent such unwanted occurrences.
One of the greatest upside of having an estate plan is that you can easily edit it to your taste at anytime after it has originally been created. For example, you may change your mind about where you want your assets to go, or there may be a new policy in place that would affect your initial estate plan. Kindly contact a Long Island estate planning lawyer to guide you through this in the best way possible.
What Will The Long Island Estate planning lawyer do for you?
- Establishing a living Trust in case you have no desire to have your family go through an extensive probate process.
- Managing of your assets in case you become incapacitated.
- Reduction or complete elimination of estate taxes.
- Passing your estate unto your surviving loved ones in whatever manner you wish.
- The Long Island Estate planning lawyer will help you write you will and manage the probate process after your death.
- In the event of will contention, he will also be involved in managing the process.
- He’ll help prevent issues arising from guardianship of the estate for incapacitated persons or minors
- Preparation of a full Property Power of Attorney.
- Preparing Medical health care documents.
- He’ll also help ensure that your estate and family are adequately protected from creditors and wolves posing as creditors.
- Render assistance in fixing the best retirement plan that suits you, insurance policies, brokerage accounts, debts, business and partnership interests.
- He may also help you creat Irrevocable Trusts or any other kind of Trusts if need be.
These and more are the areas in which the Long Island estate planning lawyer will assist you. Do not consider going through all these on your own as you may encounter unforeseen pitfalls due to your ignorance in these legal matters.
Hence, kindly contact a Long Island estate planning lawyer right now.