There are several reasons people delay estate planning. However, none of those reasons mean anything if a person dies without an estate plan. Despite what many people think, there are benefits to having an estate plan, regardless of age, gender or marital status. Fortunately, setting up a simple plan isn’t complicated. Everyone should schedule a brief meeting with Estate Lawyers Nassau County NY residents trust to help them plan what happens to their assets after they die.
Often, people think they are too young to worry about an estate plan. They may not have acquired any assets and think what they own isn’t important. However, if they don’t put their wishes in writing, family members might fight over their belongings and things they would have given to friends might be thrown away because they aren’t important to family members. Healthy young adults die in accidents every day. By setting up an estate plan, they can be confident their wishes are written down and if they acquire assets like real estate or artwork, they’ll have a base plan that may be updated as needed.
Married people tend to assume that if they die, their joint assets will pass seamlessly to their spouse. While this is generally true, spouses sometimes die together and if they don’t have estate plans, their assets will be distributed to their heirs through probate. It’s important for couples who have children from previous relationships to have separate estate plans that ensure their children receive assets if they die prior to their spouse. A separate trust to pass assets to children from another marriage could ensure they receive a portion of their parent’s estate. Estate Lawyers Nassau County NY respects may help married couples make estate plans together and separately. Browse website for more information.
Estate Lawyers Nassau County NY residents trust could help clients draft an estate plan that addresses their current assets and allows room for revisions in future. Every adult should have an estate plan, whether they have assets or not. Whether they have a simple or complex estate, The Law Offices of Peter Morra in Nassau County NY may discuss goals and financial planning for the future to help a client succeed.
2 people like this post.