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