Estate planning is a process of making many important decisions and plans over your future and that of your loved ones. specifically, estate plans, concerns what happen to your assets both while you are alive and well or dead, how you want to share your assets to family, children or spouse, who takes over making certain important decisions for you in cases of mental incapability and lastly transfer of ownership of a property. These plans can only be presented, documented and implemented in wills and testament, living trust, revocable or irrevocable trust, advance medical directives and lastly financial power of attorney (power of attorney). An estate planning lawyer is all you need to make file the appropriate document and to also ensure the legal implementation of these plans.
Planning now for the future with an estate lawyer would never be regretted. Preparing now for the future over your financial and medical affairs would save you and your loved ones a whole deal of stress and troubles. One wrong document or inclusion or signatory could mean or signal a whole different thing and may jeopardize your wellbeing or your estates at risk of loss and probate with the beneficiary or trustee not getting it.
It is also important to note that state laws rules over estate plan. They dictates what should be included in will, trust or power of an attorney, this state laws in Brooklyn, also regulates how the documents are filed and its implementation. This emphases the un-denying importance an estate planning lawyer Brooklyn. No matter the financial or medical situation you are in today, contact an estate lawyer Brooklyn to help you solve one of your most important task in life, which is planning for the future, yours and that of your family.
You may want to Consider one or more of the following cases and see if you fit into these categories; you own and manage one or more businesses, you have minor children or you don’t have any children, you have a disabled family member, or you have one or more health issues, you are married, divorced or in a second marriage etc. You are definitely in of the categories mentioned above, any of these above mentioned cases requires you make plans, estate plans. Consequentially, you need vital and legal estate planning documents to ensure you are covered. Contact an estate lawyer today.
Estate planning major documents.
Last Will and testament:
A will based estate plan holds a detailed list of instructions as to how your property should be shared after you die. If you have minor children, it contains provision for appointing a guardian for your children.
Trust are essential when planning your estate. Through trust, you can have anyone whom you solely desire manage and make financial decisions over your assets both while you are alive or dead as well as when you become mentally incapacitated. Trust forms the bases of how your estates are shared or given to beneficiaries, what happens to you when you die and who makes certain financial or medical decisions for you when you are mentally incapable. There are two types of trust, revocable and irrevocable living trust. Both have key importance, however, consult with an estate planning lawyer Brooklyn to make plans for the suitable trust.
Advance medical directive: Through an advance medical directive also known as a medical power of attorney, you get to designate a health agent to make medical decisions when you are unable to do so. This same document could be filed in court to should it be someone needs to be your guardian or conservator.
Financial power of attorney: through this, you can protect your finances and assets through the financial power of attorney. This documents allows you delegate to the person your choice the ability to manage your assets and make important decisions should you become mentally incapable. This documents can be used in two form as a durable power of attorney and a springing power of attorney.
With an experienced estate planning lawyer Brooklyn, you can start planning your estate today.