Estate planning is an important aspect of preserving your legacy that many people tend to overlook until it’s too late. Estate planning involves the process of preparing for the transfer of one’s assets and wealth to loved ones after death. It allows you to organize your affairs to make sure that the management of all your assets is done in alignment with how you want after your passing
Proper estate planning can help ensure that your assets and loved ones are protected. Contact Ledgewidge & Associates today to schedule an initial consultation and start planning for your future.
In this blog post, we will discuss essential estate planning tips and services from experienced lawyers. Let’s dive right in!
Why is Estate Planning Important?
Estate planning is important for several reasons. Without proper estate planning, your assets may not be distributed how you want them after your passing. Secondly, estate planning can help minimize taxes and avoid probate, which can be a lengthy and costly. It also provides peace of mind, knowing that your loved ones are taken care of after your passing.
Estate Planning Tips
- Keep an Updated Will: Creating a Will once isn’t the end all be all. Make sure you keep reviewing and updating your will periodically if necessary.
- Update Your Beneficiary Designations: Beneficiary designations on accounts such as life insurance policies, retirement accounts, and bank accounts should be updated periodically to reflect your current wishes.
- Consider a Trust: Trusts can help avoid probate and minimize taxes, so It’s always a great idea to have one to secure your legacy.
- Plan for Incapacity: Estate planningalso involves planning for incapacity. You should have a plan in place in case you become incapacitated and cannot make decisions for yourself.
- Review and Update Periodically: You should review and update your estate plan regularly to ensure it reflects your current wishes.
Contact Ledwidge and Associates for Estate Planning Lawyers
Our experienced Brooklyn Estate lawyer can help ensure that all these estate planning tips are incorporated into your estate plan that’s tailored to your specific needs.
At Ledwidge & Associates, we specialize in everything related to estate planning and can help you create a comprehensive estate plan that meets your specific needs. Contact us today to schedule a consultation and start your estate planning NYC journey.
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