Estate Planning

Estate planning comprises a meticulous process that undertakes planning for situations where a person wouldn’t be able to make their own decisions due to a disability or in the case of their passing. The term estate refers to the property one might own; both tangible and intangible. Your property could be hard cash, bank accounts, property, cars, jewelry, insurance, retirement, investments, savings, etc.

Bequeathing assets to heirs / beneficiaries or an institution and planning for incapacity remain main reasons for planning. However, that’s not all estate planning is limited to. Under this umbrella term, there are various other details that can be defined and elaborated.

Estate planning allows you to:

  • Protect assets
  • Medicaid planning
  • Designate a guardian for a minor child
  • Designate a healthcare proxy that can make medical decisions on your behalf
  • Use it for Medicaid planning for long-term care
  • Document end-of-life preferences

You also decide on a power of attorney that can make financial decisions and carry out tasks such as paying bills, settling debt, legal or business decisions, and manage an investment portfolio. When carried out with an estate planning attorney, it can be used to reduce or eliminate taxes.

Here you’ll find yourself perusing through a plethora of articles that could be your resource when you’re learning what planning is all about. You can begin by understanding the bare bones of planning and make your way up, studying different types of planning tools, what mistakes to avoid, what myths to not believe, and more.

Probate Lawyer Brooklyn

Probate Lawyer Brooklyn

Ways a Probate Attorney can Help an Executor Choosing whether or not to hire a Brooklyn probate lawyer can be a difficult decision if you’ve been made the executor of an estate. Even if they don’t want legal assistance at the first, eventually, many decide to hire an experienced attorney in Brooklyn to help them…

Probate Lawyer Long Island

Long Island Probate Lawyer

How a Living Trust can Help You Avoid Probate The term, “probate” is scary for many people. They immediately think of courts taking away property or other horror stories that have been misinterpreted over time. The simple definition of probate is the legal process courts use to confirm a Last Will is valid, settle the…

I Need a New York Probate Lawyer

New York Probate Lawyer

Why do I Need to Hire a New York Probate Lawyer? When you act as the executor for a loved one’s estate, you can feel overwhelmed. It is a daunting task for most people both logistically and emotionally. To begin with, the distribution of a loved one’s estate entails going through every single item. Why…

Special Needs Trust Brooklyn

Special Needs Trust

ABOUT SPECIAL NEEDS TRUSTS ATTORNEYS IN BROOKLYN A trust is a relationship where a property is managed by a person for another person’s benefits. The person who is managing the property is called the trustee whereas the person who receives the benefits is called the beneficiary. There are different types of trusts. One type of…

Estate Planning in Long Island

Estate Planning as a DIY Challenge

Do(n’t)-It-Yourself – The Case Against DIY Estate Planning The advent of Pinterest and shows like Home Improvement has given the term “Do-it-Yourself” a plenteous boost. The popularity is trendy to the point of making several YouTubers and social media persons millionaires. How? They just have to be consistent with various DIY niches in fun, quirky…