Your Will or Theirs?

The school year is over and it is time to prepare for the family vacation.  For us, it means we will be receiving last-minute requests to update or set up a new estate plan.  But rushing through the estate-planning process is not a good idea.

The estate planning process includes preparing wills, living trusts and the probate process.  Although it requires careful thought, preparing your estate plan ahead of time brings you peace of mind and spares your loved ones unnecessary expenses and anxiety after you’re gone.

The process of establishing an estate plan and bequeathing your possessions can be complicated. Fortunately, this month’s Item of Value explains the basic principles of estate planning. You will find several important steps to think about when choosing the estate plan that is right for you.

You’ll also find definitions of the most common estate planning terms as well as the three basic methods of owning property and how these affect the process of bequeathing your possessions to your beneficiaries.

Because there are many facets and fine points to consider, an estate planning attorney should always be consulted. Once you push past any reservations you have about estate planning and actually start the process, I know you’ll be glad you did!

Written by Attorney Irving Hymson,

The information contained herein is general information not legal advice. E-mailing attorneys from this website does NOT establish an attorney/client relationship. A formal attorney/client relationship begins after a conflicts check and engagement agreement are signed.

All Rights Reserved - Copyright © 2004-2020 Hymson Goldstein Pantiliat & Lohr, PLLC
ARIZONA - 14500 N. Northsight Blvd. Suite 101 Scottsdale, AZ 85260 Phone 480-991-9077 Fax 480-443-8854
NEW YORK - 525 Chestnut Street, Suite 203 Cedarhurst, NY 11516 Phone 516-596-8366 Fax 480-443-8854