Wills, Estates and Trusts Law – What Is Estate Planning?
- Estate planning is basically, the steps you take during your lifetime to ensure that your assets are divided properly after you are gone.
- This is not limited to preparing the will. It also includes disposing of assets during your life, making transfers of your property, putting life estates on real property, giving gifts to the people closest to you while you were still alive as well as planning a health care proxy.
- A major concern is how to maximize the value of your estate; trying to avoid a state tax.
- You want to ensure that what you’ve worked so hard for during your lifetime is given to those closest to you and not the government.
- Having a good Estate Plan is a way to make sure that when you are gone, everything goes according to your plan.
This short informational estate planning was provided by Nicholas Mattia, an experienced Jackson Heights Estate Planning Attorney.