Preserving an Inheritance
Although most of us plan to leave our loved ones with assets from our estate, sometimes expenses at the end of a person’s life deplete the estate and loved ones can be left with virtually nothing. Assets in an estate can be exhausted by medical expenses, funeral expenses, outstanding miscellaneous debt and taxes.
Plan to Protect Your Loved Ones
A properly drafted Last Will and Testament can preserve and protect your estate before unexpected expenses deplete your assets. A trust can help cover unexpected expenses and protect the assets you hope to pass on to your loved ones. A Last Will and Testament can also be drafted to ensure that one beneficiary doesn’t assume more financial liability than another. An estate plan should create a strategy for an estate dealing with things like credit card debt, mortgages, or car loans.
Getting Legal Help
Estate Planning Attorney Elga Goodman has helped people of every income level to create an estate plan to care for beneficiaries while preserving as much wealth as possible. Regardless of the size of your estate, contact us today at 973-841-5111 and make a plan.
Posted in: Estate Planning, New York Estate Planning