Estate Planning Lawyer in Brooklyn NY Helping Clients Create an Estate Plan
Nobody enjoys thinking about their own mortality, so many put off making key decisions about what they want to happen when they die until it’s too late. Sadly, this can have a negative effect on loved ones, as they often end up guessing about your wishes if you never created a proper estate plan. An estate planning lawyer also frequently creates living wills or advance healthcare directives that guide an individual’s medical care or treatment should you become unable to provide those directions yourself. Creating an estate plan can make a major difference for your beneficiaries while you’re still alive and after you pass away.
A Brooklyn estate planning lawyer can help you create documents like trusts or wills that distribute assets after you pass on. You don’t want to delay making these pivotal decisions, so schedule an appointment with a caring attorney today.
What is the Process of Creating a Will?
The most common task associated with estate planning is the creation of an individual’s last will and testament. This document, which takes effect once a person dies, distributes assets and property according to the deceased person’s wishes. The document also names a person or entity as executor. The executor is in charge of making sure the deceased’s wishes are honored. A will also make certain distributions conditional, based on specific actions. For example, you could choose to leave your child money on the condition they graduate high school. While wills are popular, they aren’t as simple as you may think, and working with an experienced estate planning attorney is key to ensuring the document is done correctly and filed properly.
What are Revocable and Irrevocable Trusts?
Estate planning attorneys often recommend that individuals in Brooklyn create trusts that can avoid the probate process and pass assets directly to their beneficiaries. Multiple types of assets, including real estate, personal property, stocks, and bank accounts, can all be put into the trust. Individuals who want to protect their assets by creating a trust have multiple options. Each trust offers different tax, legal, or investment benefits. A Brooklyn estate planning lawyer can recommend a type of trust based on your specific needs.
What is Probate?
When an individual dies without an estate plan, or when a deceased family members challenge the will, the estate may need to go through the probate process. During a probate case, the beneficiaries of the estate must prove the authenticity of a will or any other estate-related documents. In this situation, the court will name an executor of the estate who must handle the deceased person’s assets, pay off any debt, and distribute the assets in accordance with the state law or the deceased person’s wishes. The executor must also notify creditors and beneficiaries of the estate of the person’s passing and handle any estate taxes owed. A seasoned estate planning attorney can assist with any step of the process, and working with one sooner than later will make everyone’s life easier.
Can a Brooklyn Estate Planning Attorney Help Me?
While planning for your death may not be fun, it is a necessary task that your loved ones will thank you for. Your family will already be in pain over their loss, a properly planned estate can save them grief and frustration. An experienced Brooklyn estate planning lawyer can help you decide how you want to be treated if you are ever incapacitated, how your assets should pass to your beneficiaries, and what you want to happen to your estate when you die. For assistance with any of these things, contact the Law Offices of Marjory Cajoux today at 347-464-2317 to set up a free consultation to discuss your estate planning needs.