Estate Planning is a term that often comes with several connotations. For example, you may think only those who have great wealth create Estate Plans, or that you must own a fancy estate and cars to consider making this plan. However, neither of these assumptions are true. Estate Planning is the only direct way to protect yourself and your assets, should anything happen to incapacitate you or upon your demise.
As explained in Kiplinger’s article entitled, “No Children? Why You Still Need an Estate Plan,” which is linked below, the financial magazine goes on to explain a number of circumstances in which you may need an Estate Plan, but don’t realize that it’s the answer to your questions. For example, should you leave behind no spouse or heir, Probate Court will decide who gets what, which may not necessarily align with your wishes. If you’d like a close friend to receive something, or if you’d like to make sure your pets are taken care of, without an Estate Plan, chances are these things will go unmitigated. Oftentimes, Probate Court will take their fees and distribute your assets amongst heirs, if any. If you leave no direct bloodline, the City can then take possession of your assets.
To avoid losing your assets and missing out on leaving behind the legacy you’ve always dreamed of, create an Estate Plan to fulfill all of your wishes. Danna & Associates, PC specializes in both Estate Planning and Elder Law, merging the two fields when offering our experience, knowledge and advice. Since 1994, our firm has created numerous Estate Plans and dealt with a variety of Estate Planning issues, which unequivocally qualifies us to help you set up yours! Call 718.273.0300 for your free consultation today!
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