The Estate Planning Attorney
A lot of people are scared to think of their own death and so do not have the bravado to plan towards it. As difficult as it may seem, it is therefore the duty of the estate planning attorney Long Island to help you plan for the inevitable. As long as it’s impossible to carry all your hard-earned assets with you when you die, you have to state what will become of them since they’re rightfully yours. You can either distribute them in certain proportions among your loved ones who you’re leaving behind, or you could simply handover total control of your estate to some other specific individual. All these wishes have to be documented legally in an estate plan for them to be effective. If there is no legal evidence of your wishes for your estate when you die, the state will have full control over your estate, and its disposal will be according to the intestate laws of the state. This is why you need to contact the estate planning attorney Long Island. He is well versed and experienced in creating of wills, trusts and all other estate planning documents, and will ensure that your estate plan is updated along with the ever changing estate laws so as to avoid your documents going invalid. The estate planning attorney Long Island protects you from a lot of mistakes you’d have made when you go at it all alone.
Drafting Your Estate Plan
Secure the future of your spouse, children or any other beneficiary by contacting the highly competent service of the estate planning attorney Long Island. He will provide legal advice, representation and peace of mind for you and your family.
The estate planning attorney offers estate planning services which includes:
- Drafting a will.
- Creating a trust.
- Offering advice on how best to distribute your assets and avoid conflict among your surviving family members over your property when you pass away
- Naming an executor who will ensure your will is effected to the letter.
- Naming beneficiaries that will receive different proportions of your estate.
- Appointing a trusted person who will manage the property you give to your minor children, until they get old enough to manage such property themselves.
- Establishing Guardianship for you or your minor children as the case may be.
Differences Between A Will And A Trust
A will is a legal document which spells out in what manner your estate will be disposed after your death. A last will is always subject to probate, and may be declared invalid in Long Island when it violates the state laws binding Long Island. Also, huge estate taxes and expenses are involved when probating a will.
On the other hand, there are estate planning matters which cannot be settled with a will alone, here a trust becomes necessary. A trust is more or less a financial agreement between you and your trustee. The good sides of having a trust is that estate taxes are reduced and probating may not be required. As good as it sounds, one must be quite familiar with the functions and powers of a trust before entering one, and it is the duty of the estate planning attorney Long Island to enlighten you on the various types of trusts available and which of them bests accomplishes your financial planning goals.
Working with an estate planning attorney will help you leave the people who are dependent on you (your spouse and children, relative, etc.) with a clear unambiguous document as well as financial stability on which they can build their own future. Why not invest in your peace of mind and that of your loved ones? Contact the estate planning attorney Long Island NOW!