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Are you planning to divide your property equally so that your partner or family can access them when you expire? Perhaps, you are still wondering
During a down economy, estate planning becomes the lowest priority as their net worth either stagnates or starts decreasing and people start looking for the options with which they can save maximum. However, they are unaware of the fact that some estate planning techniques work specifically during a recession and low-interest period. Expending money on such techniques can prove out to be an excellent option to dispense the asset from your estate while saving the taxes imposed on them. The economic recession can provide you with some opportunities if you approach estate planning with a long term perspective. Estate Planning In the Down Economy- There are many estate planning techniques that you can utilize to make the down economy advantageous
There is a common perception that estate planning only includes a will or a trust in someone’s or some organization’s name. But it is not true at all. There are many features associated with an estate plan. You can definitely do a lot in your estate planning. Also, remember that estate planning is not only about wealthy people. Estate planning means that you are giving your belonging to another person after your death. Now, this belonging can be anything and it does not have to be a very expensive house or a car. So, keeping in mind that estate planning is for all of us, this article is to give you a brief idea of what are the elements that
Estate planning is integral to the peace of mind of businessmen who have spent a large portion of their life building their business. Most businessmen have almost all their wealth tied up in their real estate. A business estate planning lawyer is the best choice for this task as he can help you with this tedious and complicated process. Professionals will ensure that there are no gaps in the plan and your heirs will face no litigation in the future. Entrepreneurs need to take estate planning as a part of their long term business plan. The process is cumbersome and requires taking into account traditional questions. Such ranges from making a will, planning for medical liabilities and disability, tax efficiency,
If you haven’t married, or you are divorced and widowed then you might think that estate planning isn’t your cup of tea but it is. Yes! Estate Planning is important for everyone, especially for a single person. Do you want to leave your whole life’s earnings/assets/property open for the court to decide where it goes? We don’t so! You have worked long and hard for what you have and now you should have a say in who gets to inherit it. With that being said it is vital for you to have a good estate plan which includes a Will or Trust or both. First of all, estate planning comes with its own benefits. Through a properly drafted estate plan
One of the most common questions that people tend to have after the passing of a loved one is, do we need to probate the estate? We all know that the probate process begins when a will is submitted to the court regarding the payment of bills and taxes along with the transferring of the estate to the beneficiaries and the heirs. Well, with the probating of a New York will, the heirs and beneficiaries will be able to ensure that they have the legal right to the property of the deceased as mentioned in the last will and testament that that was created by the deceased. In a city like New York, there are some things that people need