Estate planning is an important task to execute. Completing the appropriate documents will ensure that your assets will go to the correct people. Continue reading to learn how one of the proficient New York City wills, trusts & estates attorneys at Zimmet Law Group, P.C. can assist you in developing a comprehensive estate plan that will relieve any burden from the loved ones you will leave behind.
What are important estate planning documents that I should prepare?
Technically speaking, estate planning is the process of deciding who will receive your assets and manage your estate when you pass on. With this comes significant legal documents that should be included in your plan. Some important estate planning documents include, but are not limited to, the following:
- Last will and testament.
- Here, you will specify the beneficiaries who will inherit certain physical assets, like real estate and personal possessions, and intangible assets, like bank and investment accounts. You will also name guardians for your minor children and your pets, and choose an executor to carry out the wishes in your will. For assistance on this, contact one of the talented New York City will attorneys today.
- Trust.
- Here, you will list all your personal property and decide which people or charities you want to receive each asset. You will also name a successor trustee to manage your trust after you pass away. You will transfer your property to the trust, but you can still use and control the property while you are alive. The benefit of this is that it avoids the time and expense of probate. This is also preferable to do if you have a large estate or own a business. For help with this, contact one of the experienced New York City trust attorneys today.
- Power of attorney.
- Here, you will give someone the legal authority to manage your finances and property for you. These tasks may include paying bills, making bank deposits, and managing your real estate property, among other things. Also, if you were in need of medical assistance, this person can use your assets to pay your medical bills and support your family once you pass on. For more details on this, contact one of the skilled New York City powers of attorney lawyers today.
If you are ready to kickstart the estate planning process, do not hesitate in reaching out to our firm today.
Contact Our New York City Firm
If you require the services of an effective New York City attorney of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, or landlord-tenant law, contact Zimmet Law Group, P.C. today to schedule a consultation.
