What Is Estate Planning?

In its purest form, estate planning is the process of making sure that your assets pass to your loved ones in a smooth and efficient way. The goal is to make it easy for your loved ones to collect your assets and to give you peace of mind. Our Queens, NY estate planning lawyers work day in and day out to meet all of our clients legal needs.

Estate planning begins with making a detailed list of your assets and liabilities. This requires you to collect your deeds, statements, operating agreements, and other financial documents. While this may be cumbersome to you, you can only imagine the frustration your spouse, children, or beneficiaries will experience when having to piece together your assets without any help.

Once we have a clear picture of your assets, we discuss different strategies we can use to pass your assets when the time comes. For basic estate planning, some clients prefer the ease and cost of wills. For others, we may recommend that they consider living trusts in order to avoid the court process of probate. When minors are involved, we make sure to draft minor trusts to make sure that assets are managed for minors until they turn the appropriate age. We always encourage clients to consider preparing powers of attorney and health care proxies. This ensures that their agent has authority to make crucial decisions such as Medicaid planning if they are unable to do so themselves.

Peace of mind is the name of the game when it comes to estate planning. A good estate planning attorney’s goal is to educate clients so that they know exactly what their options are, and then make recommendations that they can act on. The end result should be a product which the clients understand and which fits their lifestyle and wishes.

Contributed by Roman Aminov, an award winning attorney in Flushing, Queens located at 147-17 Union Turnpike, Flushing, NY 11367. Schedule A Consultation today by calling (347) 766-2685 or visiting https://www.aminovlaw.com/.

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