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Are you a single, and you are reaching retirement soon? Well, then this is the right time for you to do some estate planning. Estate planning for people who are single is very essential as after their death there won’t be any proper heir or beneficiary to their assets. Thus, it is highly necessary to make a proper estate panning if you are single or widowed. What Does Estate Planning Include? Following are some of the must-have items which should be there in any estate planning Last will and testament – This last will or testament actually consists of your last wishes regarding your distribution of your assets and who should get it. Power of attorney – You must have
Studies show that nearly 60% of the American population has not indulged in estate planning. This is a gap that you need to address with haste. The misconception is that you do not require having a succession planif your assets are modest. But, the truth is that every person who has an income and asset needs to strategize. The aim is to keep your loved ones safe even after you are not there physically. The average layman has little idea about the constantly changing laws and taxation intricacies. It is important that you should take expert help to plan. The law states that without an estate plan your assets will be under the guardianship of the state at death. Every
With the evolution of technology, we all are living in a digital world with most of the works being done online. We have our business and personal data stored online. We are so much dependent on the online platforms that we ourselves don’t realize the value of the digital records and the loss that we would face if these assets are ever lost or become inaccessible. Thus, the digital assets have become an important kind of property that needs to be taken care of as well and must be included in our estate planning. If not done, your loved ones might face a lot of discomforts, unnecessary burden, and cost with the possibility of the estate lost. Estate Planning For
Estate Planning is something that we often ignore because we don’t find it necessary. There is even, a survey which says that only 4 out of 10 Americans currently have an estate plan which refers to the fact that a lot of people are ignoring the importance of Estate Planning. Believe it, everyone including people who own a car, have furniture, own a home, have saving accounts, possess life insurance, and have a few investments should think about Estate Planning. If you have already thought about it then in that case, an Estate Planning Lawyer in Brooklyn can come in handy. Estate Planning Brooklyn It doesn’t matter if you have modest or large property Estate Planning is required. Let’s say
Estate planning is the process of passing on your belongings to your heirs after your demise in order to safeguard your assets along with your loved ones while avoiding any kind of complications. While most people think that estate planning is meant for the wealthy and older folks only, however, the fact is that it is meant for everyone irrespective of their age or wealth as everyone wants their family to be secured during your life and even after that. Estate Planning- In order to secure your estate, some basic documents of estate planning are required such as a last will, a healthcare proxy, a power of attorney and a living will. A will is required to specify the distribution