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What is Estate Planning?
Estate planning is a process. It involves people - your family, other individuals and in many cases charitable organizations of your choice. It also involves your assets and all the various forms of ownership and title that those assets may take.

What is Involved in Estate Planning?
In starting to consider your estate plan, you should ask yourself the following questions:

  What are my assets and what is their approximate value?
  Whom do I want to receive those assets - and when?
  Who should manage those assets if I cannot, either during my lifetime or after my death?
  Who should have the responsibility for the care of my
  minor children if I become incapacitated or die?
  If I cannot take care of myself, who should make decisions on my behalf concerning my care and welfare?

With tentative answers to these questions, you are ready to seek the advice and services of a qualified lawyer who will discuss with you the various documents which can comprise your estate plan and will provide advice concerning such issues as title to assets, taxes, and the prudent management of your estate.

Contact a Wills Trust Estate Attorney for your questions about wills legal options

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    DID YOU KNOW ?

    If I Give My Child A Durable Power Of Attorney, Do I Still Need A Will

    A durable power of attorney is a powerful and useful document for allowing someone, known as the attorney-in-fact, to handle your estate during your lifetime.

    The authority of the attorney-in-fact terminates upon your death, however. Therefore, your child would not be able to use the durable power of attorney as authority to distribute your estate.

    Will Other States Honor A Will Drafted In New York

    Generally speaking, a will that is validly executed in the state in which it was drafted will be considered valid by other states.

    Talk to our New York Wills Lawyers for these above topic details.

     

     
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