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February 2014 Archives

Estate planning protects one's valuable assets in New York

People typically are focused in their efforts to obtain more money or more possessions in order to have a good quality of life in New York. However, they often neglect to think beyond their own lives and pay little attention to what will happen to these valuable assets once they die. This is particularly true for young people, who naturally feel invincible and don't think they'll have to worry about death for several decades. However, death can strike at any time, and having a well-thought-out estate plan can ensure that a person's assets end up in the right hands when death comes.

New York estate planning involves developing a will or trust

People typically don't like to hear the words "too late," as this usually signifies that he or she has missed something desirable. Although putting together a will is hardly regarded as something desirable to most families, who prefer to think about less-morbid topics, the results are highly sought-after when a New York resident ends up dying unexpectedly. Understanding laws related to estate planning may help a person to make the best choices possible when deciding how to pass down one's assets to beneficiaries.

Estate planning protects one's assets, family in New York

People make several mistakes in life; after all, they are only human. However, some mistakes may be more costly than others, and some might have more wide-ranging effects than others do. One mistake that families often make is failing to participate in estate planning in New York. Not doing so can ultimately cause one's valuable assets and property to end up distributed by the state, according to the laws of intestacy.

Estate planning important for all families in New York

When a man and a woman have a baby in New York, putting together a will often is the last thing they want to do. After all, they are consumed with other urgent life demands, or they simply don't want to be bothered with an activity that seems so morbid. The complexity of the process also may deter some individuals from wanting to engage in estate planning -- especially those with blended families. However, wills are typically essential in any family situation, helping to protect one's assets and pass them down to the right beneficiaries in the event of the person's death.

Will execution in New York involves updating beneficiary names

An individual finally got the courage one day and took time to put a will together. The task may have seemed daunting, requiring the person to think about a topic that he or she really would have preferred to avoid: death. However, in the end, the person's beneficiaries will be in the best position to have access to his or her assets in the event of the person's death in New York. The problem, however, is that the beneficiaries' names have not been updated in years; this is perhaps the biggest mistake a person can make during the process will execution.