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Introduction Ever wondered the fate of your assets when you pass on or when you become incapacitated? The truth is that you like most folks
It doesn’t matter if you are planning to get married, a newly married couple or have been married for the years you need an estate plan. You need to understand that things change when you get married and you need to be a bit more careful now. Marriage is a very big responsibility and we know that every person wants only the best, for his or her spouse. If you are newly married then you must understand that estate planning will give you a lot of benefits from the start. Also, the couples who have been married for the years should also enroll themselves in estate planning. First of all, forget the old misconception that you don’t need an estate
Estate planning is the process where you allocate all your assets to beneficiaries. The process also involves planning your retirement so that you can live comfortably. Your aim should be to plan your finances to optimize income and save on taxes. The best way to do this is to hire a good lawyer who can plan for you. A good estate planning lawyer in New York will cost you anything like $800-$1800. If your estate is larger and more complex it could go upwards of $3500 too. You could do it yourself if you are updated about laws and financial matters too. A good book that can teach you DIY planning is available at about $100. You could probably buy
Estate planning is done to protect your assets along with securing the future of your family and loved ones. You spend your whole life in accumulating significant wealth to make your family financially secure and the rest of the time to protect your wealth from probate, taxes, and creditors. However, you forget one aspect of protecting your assets and that is from your own heirs as your assets can be lost very quickly in the lawsuit. It is quite common that the inheritors have a dispute over the estate of a deceased testator after he/she has left an estate plan which may lead to litigation. Estate Planning- The inheritors have various reasons to contest your estate legally due to uneven
Estate planning is not what is talked about much as no one wants to imagine their death, but we all know that it is something that can’t be escaped. While we spend our whole life in accumulating wealth to secure our loved ones, we would definitely want them to be secured after our death. Hence, it’s better to plan your estate ahead of time so that you won’t regret later in the long run and your family won’t have to suffer when you are not around. Estate Planning- Irrespective of your age and value of your estate, you must plan it. Estate planning is not only meant for the property distribution after your demise but it is also to plan
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