Understanding and Caring Attorneys Assisting with Estate Planning in the Long Island Area
Estate planning tends to strike fear in some. After all, it is about planning the future after death. While that sounds morbid, it is a necessity if individuals want to protect their loved ones and their estate.
The process of estate planning is easy when you use an estate planning attorney. However, there may be questions that make you uncomfortable. These hard questions, however, are what will determine the efficiency of your estate plan and ensure that all aspects of your estate are considered.
Who Will Raise the Children?
If you have children under the age of 18, you must designate a guardian for them. The guardian is the individual who cares for your children. You will want to select a guardian who can raise your child with similar values that you and your spouse share. This person does not necessarily have to be a family member, but you want to select someone whom your children know and love.
How or When Do You Want to Die?
If you were to become incapacitated, would you want to be left on life support or would you like a loved one to authorize removal? These are questions you must answer, because without a directive or durable power of attorney, a family member may not be able to remove you from life support or leave you on life support if that was your wish.
By creating a power of attorney, you can remove the burden from loved ones, because your power of attorney dictates how and when for them.
Who Handles Your Digital Assets?
Digital assets are common in today’s society. You may have a social media account, online bank accounts, investment plans, and digital file storage. To ensure that all assets are included, tell your Long Island estate planning attorney about any digital assets you own. Also, designate who will be responsible for them and how you want to handle those digital assets.
Do you want your social media accounts left open or do you want them closed out?
You may want to consider setting up a trust that manages all assets, including digital assets.
Who Are You Missing?
Your estate plan should not leave out loved ones, but also should ensure that you do not accidentally include individuals whom you no longer wish to inherit your estate. For example, you have divorced, but you have not updated your estate plan to reflect your ex-spouse. Perhaps you had another child, but you did not add that child to your beneficiary list.
It is best to review your estate plan annually and any time you have a significant life change to ensure that everyone is included, and no one is forgotten.
Speak with an Estate Planning Attorney Today
To ensure you have the right estate plan drafted, and the tough questions are answered, contact an estate planning attorney. The Law Office of Andrew M. Lamkin, P.C. can help. Schedule a free consultation at 516-605-0625 or request more information online.