what is estate planning
DESCRIPTION
This presentation talks about estate planning in New York and why it is important that every capable adult should have at least a basic estate plan in place.TRANSCRIPT
WHAT IS ESTATE PLANNING?
FAQs and Answers
ESTATE PLANNING
What Is Estate Planning?
At its heart, estate planning is about answering the
question of what you want to happen to
your property after you die
ESTATES
What Is an Estate?
Your estate is all the property you leave behind you after you
are dead
It includes all of your assets, as well as your liabilities or
debts
PROBATE
What Is Probate?
Probate is the legal process that applies to your estate
Once you’re dead, your estate will have to go to new owners
New York probate laws govern this process
INTESTACY
What Happens to My Estate If I Don’t Have an Estate
Plan?
If you die without an estate plan, your property will still
have to be transferred to new owners
However, you will not have any control over how this happens
Instead, your property will pass in accordance with
New York’s intestacy laws
INCAPACITY PLANNING
What Is an Incapacity Plan?
Apart from addressing estate concerns, estate planning also addresses what will happen to
you should you become incapacitated
Incapacitated people cannot make choices, and need others to do so on
their behalf
AGE AND WEALTH
Aren’t Estate Plans Only for the Old And Or The
Wealthy?
NO
Every adult has estate planning questions that only
they can answer
If you fail to answer these questions, you leave it to the
laws of the state of New York to
answer those questions for you
CHOICES
What Is the Best Time to Begin Estate Planning?
IMMEDIATELY
EVERY CAPABLE ADULT should have at least a basic estate plan made as soon as
possible
LEARN MORE ABOUT ESTATE PLANNING IN ROCHESTER NEW
YORK
Click to visit:
mrobinsonlaw.com(585) 374-5210