Estate Planning Attorney Water Mill NY
Why You Need an Estate Lawyer
If you are in need of the services of an estate planning attorney, a trust attorney, a probate attorney, or guardianship attorney, contact the Law Offices of Berwitz & DiTata LLP. Their legal team specializes in estate planning, probate and estate trust administration and litigation, and elder law. They are dedicated to helping Long Islanders and their loved ones establish the best plans for their future.
Many people assume that an estate plan is something that things like living trusts an estate plans are only reserved for the wealthy; however, working with a living trust attorney and an estate lawyer can benefit anyone, no matter what their financial status may be.
An estate refers to anything and everything that you own; your home and any other real estate that you may have, your cars, your bank accounts, your jewelry, and art… All of the personal possessions that you own are considered a part of your estate. It doesn’t matter how meager abundant it is, you’ll want to make sure that the things that your estate is comprised go to the people that you want to receive them, whether it’s your spouse, your children, your business partner, or even an organization.
When you pass away, you can’t take your earthly possessions with you; therefore, it’s important to make plans ahead of time, and an estate plan is the best way to ensure that the things you own are distributed to the right people. That’s exactly what an estate plan does. This legal document serves as a set of instructions that clearly state who you have chosen to receive your possessions, exactly what items you want those individuals to receive, and when you want them to receive them.
Why You Should Have an Estate Plan
Nobody likes to think about their mortality; however, what happens to the things you own after you pass away is something that does need to be addressed because everyone eventually passes away. If you don’t have a plan, you will have no control over your belongings and who receives them, which is the primary reason why creating an estate plan is so important.
Estate planning provides you with more than just a way to manage your assets when you perish. Other benefits include:
- Protection for yourself. An estate plan can protect you and your assets while you are still living. Should you become ill or if you are involved in an accident and are considered incapacitated and are no longer able to make decisions that pertain to your personal care and financial needs yourself, an estate plan can indicate your wishes. For example, you can name a power of attorney or a healthcare proxy within your estate plan; individuals that you would like to make decisions for you if you are no longer able to.
- Protection for your loved ones. An estate plan can protect your loved ones in a variety of ways; for example, it ensures that your heirs receive the assets that you want them to receive. However, an estate plan can do more than just make sure that your survivors receive your assets; it can also ensure that they receive the proper care that they require in the event that you pass away. For example, if you are a parent and you pass away, an estate plan will highlight who will become your children’s guardian, allowing them to avoid a court-appointed guardian who may be an individual that you do not want to have guardianship.
- Avoid probate. Probate refers to the process of distributing your assets after you pass away. The process can be lengthy and costly, and it can negatively impact your surviving loved ones. By establishing an estate plan, your assets and your loved ones can avoid probate; in other words, it can protect your loved ones from a harrowing experience.
These are just some of the benefits of establishing an estate plan. To learn more about why estate planning is important and why it is such a valuable asset for you and your loved ones, contact a reputable estate lawyer. The Law Offices of Berwiz & DiTata LLP will answer any and all questions you may have about estate planning and will help you through the process of planning your estate so that you can protect yourself, the people who matter most to you, and your personal possessions.
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