Estate planning is crucial for anyone who has children or owns property. While most individuals mistakenly believe estate planning is only for the wealthy, it behooves everyone to plan so their estate will be taken care of appropriately when they die or become incapacitated. With this information, individuals will know how to prepare for working with an Estate Planning Attorney Nassau County NY. Being prepared will make the process much easier to go through so no time is wasted.
To prepare for meeting with the Estate Planning Attorney Nassau County NY, it is vital a person brings in several documents, including:
* Property titles
* Insurance policies
* Bank and retirement accounts
* Income tax returns
* Debts owed
* Names and contact information for everyone that will be listed in the will
* Birth certificates and social security numbers.
There are several aspects involved in estate planning, and having these documents ready will be beneficial for allowing the attorney to start the process efficiently. One of the most important aspects is will planning. Without a will in place, the state decides who gets what. A will allows individuals to make the sole decision on how their property is dispersed upon their death. An attorney can also help their client to set up a trust which can sometimes allow a greater level of protection for heirs.
Drawing up a living will is also an integral part of working with an estate planning attorney in Nassau County NY. This will names the person who is given the power to make medical decisions on behalf of the individual who has become incapacitated. Most individuals choose their spouse but this is not required. This document is called a health care proxy.
An individual will also need to decide on the person who will stand as their power of attorney. This individual is given the legal authority to make important decisions regarding finances and other legal matters. An attorney can help a person through each stage in the process of making decisions for their estate plan.
If you are in need of estate planning services, contact Business name. They will be happy to meet with you and go over all of your needs so you can rest assured your estate plan is put into place.