Planning for the future is essential, and estate planning is a crucial part of that process. Estate planning is not just for the wealthy, it is for anyone who wants to ensure their assets are distributed according to their wishes and their family is taken care of in the event of their passing.
If you’re considering estate planning, whether it be making a will, trust, or other plan, or you need to probate or administer the estate of a loved one, Attorney Richard Cary Spivack and his team at Queens Probate Lawyer are ready to assist you with the drafting of your will, living trusts, and much more.
In this article, we’ll cover everything you need to know about estate planning and how queens probate attorneys can help you through the process.
Why Estate Planning is Important
Estate planning is a process that involves making decisions about your property, assets, and medical care in the event of your death or incapacity. It involves creating a will, trust, or other plan that outlines how you want your assets to be distributed after you die, who you want to make decisions for you if you become unable to make them yourself, and what medical care you want to receive if you are unable to communicate your wishes.
Estate planning is important because it ensures that your assets are distributed according to your wishes and that your loved ones are taken care of after you’re gone. It also helps to avoid disputes between family members and can help reduce the amount of taxes that need to be paid.
The Estate Planning Process
Estate planning involves several steps, and queens probate lawyer can guide you through each one.
The first step is to create a comprehensive inventory of all your assets, including your bank accounts, investment accounts, real estate, and personal property. This will help you determine the value of your estate and decide how you want your assets to be distributed.
The next step is to create a will or trust. A will is a legal document that outlines how your assets should be distributed after your death. A trust, on the other hand, is a legal entity that holds your assets for your benefit during your lifetime and then distributes them to your beneficiaries after your death.
Once your will or trust is created, you’ll need to appoint an executor or trustee to manage your estate after you’re gone. This person will be responsible for ensuring that your assets are distributed according to your wishes.
Finally, you’ll need to create a healthcare proxy and living will. A healthcare proxy is a legal document that allows you to appoint someone to make healthcare decisions for you if you become unable to make them yourself. A living will is a legal document that outlines your medical wishes in the event you become incapacitated.
How Queens Probate Lawyer Can Help You
Attorney Richard Cary Spivack and his team at Queens Probate attorneys can guide you through the estate planning process from start to finish. They can help you create a comprehensive inventory of your assets, create a will or trust, appoint an executor or trustee, and create a healthcare proxy and living will.
In addition to estate planning, Queens Probate Lawyer can also assist with estate administration and probate. Estate administration involves managing the estate of someone who has passed away, while probate involves proving the validity of a will in court.
Richard Cary Spivack is a former Queens County Assistant District Attorney with over 30 years of experience in estate planning, criminal defense, and real estate law. He is BV® Distinguished™ Peer Review Rated by Martindale-Hubbell® and accredited by the Better Business Bureau.
Conclusion
Estate planning is an important process that ensures your assets are distributed according to your wishes and your loved ones are taken care of after you’re gone . It involves creating legal documents such as wills, trusts, powers of attorney, and healthcare directives. Proper estate planning can also help minimize taxes and other expenses associated with the transfer of assets.
It’s important to start the estate planning process early and review your plan regularly to ensure it reflects any changes in your circumstances or wishes. Consulting with an experienced queens probate attorneys can help ensure that your plan is comprehensive and tailored to your individual needs and goals.
