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Every individual spends his or her whole life in simulating wealth for a better life for their own self and their family as well. During their lifetime, you are there to take care of your property, however, you also want to be assured that all that you own should be benefiting your loved ones after you pass away. In order to achieve this, it is essential to plan your assets. While talking about estate planning, people think that planning your estate means drafting a will, which is quite normal due to available information around it. The fact is that drafting a will and planning your estate seems to be alike as they normally go hand-in-hand, however, a will is only
We spend most of our life in accumulating wealth and assets, taking care of our loved ones, fulfilling their wishes, and securing their future, however, in between all these we forget ourselves completely. At a certain point of time, we all need someone to take care of us it may be due to severe illness, an accident or after a certain age when we will not be able to do that for ourselves. Estate Planning- Hence, apart from thinking about our loved ones and our estate, we must think about ourselves like what will happen if we ever become disabling to take care of our health and in such a situation who will be responsible for our financial and healthcare
The modern world has turned many old estate planning theories upside down. The digitally-enabled world has many new assets that are available online. You are most likely the owner of a veritable trove of digital assets that you don’t even think of as assets. There are websites, domain names, e-photos, social media accounts, and even blogs. These are capable of being memories or even translate to income. How Are digital Assets Important To Estate Planning The internet age has made all records electronic. The age of paper records is slowly diminishing and there are now all statements of storage of financial dealings on the computer. The eco-friendly paperless ethic is permeating many homes in the USA. Even most of the
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
A lot of people are more interested in planning their vacation trips rather than estate planning. They think that estate planning is only for the wealthiest in the world. But these people couldn’t be more wrong. Estate planning is a most essential plan that should be included in everyone’s life. It is all about the safety and security of your family members even when you are not around. Thus, this article answers the evident questions as to why should you have an estate plan. What Is Estate Planning? Estate planning is the overall transfer of your assets to your loved ones. In estate planning, you can decide about the distribution of your assets among your loved ones, so that when