One Estate Plan Does Not Fit Every Person
At the Iaconis Law Office, we know that an estate plan is incredibly personal. Just as every person and every family is unique, every estate plan should be unique. That is how we approach estate planning. From our law office in Chittenango, New York, we serve clients throughout the Syracuse area.
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You may have seen ads for "one-size-fits-all" estate plans. It is just not that simple. Estate planning should take into account your long-term plans. Some people want to preserve assets; others want flexibility. Some have children with special needs, or who will need help using an inheritance. What works for the client depends upon their assets and their family commitments.
- What do you want estate planning to accomplish? That's the first question we will help you answer when you talk to an attorney about estate planning. What are your priorities and concerns? Tell us your objectives and we will explain your options. It is essential to know how property should be titled to assure that the needs of the ultimate beneficiaries and spouses are continuously met. We will explain the probate process, its benefits and drawbacks. We can explore the option of trusts.
- Wills and trusts are part of effective estate planning. A will is basic to any estate plan. It will state how assets should be divided, and who will take responsibility for your children and carrying out your wishes after death. Trusts can be set up to deal with specific issues — charitable trusts, special needs trusts — or simply to preserve and transfer assets. What are the benefits of a revocable trust or an irrevocable trust in place of probate? Trusts can also be incorporated into wills to meet special needs of beneficiaries of the wills.
- A living will, healthcare proxy, powers of attorney should fit your needs. How should medical decisions be made if you are unable to make your own choices? If you cannot at some point handle financial affairs or daily living decisions, who can act for you? Talk to your estate planning lawyer about these issues so that your family will know what your wishes are.
By making your wishes clear now, you family may be able to avoid elder law issues such as establishing conservatorships or guardianships. An estate plan can also simplify estate administration and probate.
Contact us for an appointment to discuss estate planning. We accept major credit cards.