Ronald Fatoullah & Associates - Elder Law

Estate Planning Archives

Your estate plan is a tool for your loved ones

Estate planning is a critical component of any adult's life plan. You shouldn't ever think that you have plenty of time to get this all on paper. The reality is that nobody knows when tragedy might strike. Unlike what many people think, crafting your estate plan doesn't have to be a difficult endeavor. For some, thinking about their loved ones' needs after they pass away is the most difficult aspect of this.

Know what you can't put in your will

When most people think of an estate plan, they automatically turn to a will. While this is the primary document that is used for many things, some points shouldn't be included in the will. One of the primary things you shouldn't put here is your funeral instructions. These should be included in a letter of instruction or something similar because your will won't be read immediately after your death. Chances are good that your funeral or memorial service will be done long before the will is read.

Young, single adults need an estate plan

All adults, even those who are single, need to have an estate plan to provide instructions about where their assets will go when they pass away. It might not seem like you need to take your time to do this, but if you pass away without an estate plan, state laws will dictate who gets your things. There is a chance that this won't match what you want to happen for them.

Find out all aspects of estate planning that apply to you

Your estate plan is one that outlines what you want to happen with your assets when you pass away. This is conveyed in the will and through trusts. It is imperative that you do handle the creation of these so that your estate doesn't have to be distributed through the intestate process that is set by New York law. We know that this might seem like a daunting task, but we are here to help you through it all.

Estate planning helps your loved ones

Most adults don't like having to think about the end of their life, but there is one thing that they have to do to ensure that they aren't putting undue stress on their loved ones when they pass away. This is to create an estate plan that covers all the basics. You can't leave anything out because failing to create a comprehensive plan could leave your family wondering what to do during a time when they should be handling their emotions.

Smart, Caring Strategy For Seniors: Call 516-466-4422.

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