One of the most responsible things a person can do is to ensure that his or her final affairs are taken care of. This means that the responsible person will seek the legal help of an attorney for his or her estate. An estate planning lawyer who conducts business in New York and New Jersey helps clients with their final affairs. Here are some things clients should know about estate planning.
The Process of Estate Planning
The process of planning an estate involves deciding who will get what after the person dies, and how the other assets are distributed. It also takes care of who will be in charge in the event the person becomes mentally or physically incapacitated to handle his or her own affairs. All of this includes the power of attorney, beneficiary designation, wills, life insurance, and in some cases, trusts and tax planning. The sooner a person takes care of this situation, the safer his or her assets will be, and the more peace at mind will be about the matter.
Other Matters about the Estate
There are other considerations to take about the planning of the estate. Using an attorney to put together an asset inventory is one consideration to take. Making health care directives, buying enough life insurance to handle any debts that may be left behind, and appointing guardians for minor children are other considerations. These matters and more are important decisions a person should make.
What Happens if Estate Affairs Are Not Handled?
Just in case the affairs of the estate are not handled beforehand, the matter can become quite frazzled with legal complications after death. The wrong person may be put in charge of the estate. Things might not be carried out the way the deceased person intended.
Who Can Help with the Estate?
Any qualified estate attorney should be able to handle the finalizing of a person’s estate. Gartenberg Howard, LLP handles the estate planning of clients in Hackensack, New Jersey and Manhattan, New York. If any persons are interested in finding out more about estate planning, they can contact the law firm by visiting the website at http://gartenberghoward.com/estate-probate/estate-planning.