What Is Estate Planning?

Estate planning is the process by which a person plans for the management and transfer of his or her assets during life and after death. Everyone has an estate, and it’s important to make arrangements to pass along one’s estate in a manner that minimizes legal fees, taxes, and court interference. Thus, anyone with any property at all should contact an estate planning attorney to begin arranging for the transfer of estate assets. If you would like to learn more about the estate planning process, please review the information below, and contact an estate planning attorney

as soon as possible for a free initial consultation.  

Common estate planning documents

An estate plan often consists of several documents, each of which serves a distinct purpose. Here is an overview of the most common estate planning documents:

  • Will – A will is a legal document that details an individual’s wishes regarding his or her assets, debts, and final expenses. In Florida, a will must be signed by the person making the will (“testator”) in the presence of a notary and two witnesses, each of whom must sign the document in the testator’s presence. Upon the death of the testator, an executor carries out the will’s instructions. 
  • TrustA trust is a legal agreement that provides guidelines for the management and transfer of trust assets. A trust is a way to hold assets and avoid probate administration, which is the process by which a deceased person’s assets are distributed by the court system. 
  • Health care directive – A health care directive outlines an individual’s desires regarding health care in the event that he or she becomes unable to make such decisions independently.
  • Durable power of attorney – A durable power of attorney is a document that gives one person the authority to make certain decisions on another person’s behalf. 

Estate planning is for everyone

These are just a few of the estate planning documents used by people to plan for their futures. Estate planning is for everyone, regardless of an individual’s income, wealth, and life situation. And the best way to get started with the estate planning process is to contact an estate planning attorney to discuss your situation. 

Contact an attorney today to begin the estate planning process 

If you would like to begin the estate planning process, you need the assistance of an experienced Florida and New York estate planning attorney. At the Law Office of Angela Siegel, we provide comprehensive estate planning services to clients who reside in New York, to those who reside in Florida, and to snowbirds who split time between both states. Angela Siegel is licensed to practice law in both New York and Florida, and she regularly assists residents of both states with their estate planning needs. Therefore, if you require estate planning assistance, please contact us today for a free initial consultation.