Table of Contents

Is Probate Required if There is a Will?
When is Probate Necessary in New York?
Best Estate Planning Lawyers in Brooklyn: Why it is important?
Do I need an Estate Plan?
Pros & Cons of Revocable Trust
Estate Planning for a Married Couple: How to do it?
Estate Planning for Business: Why it is Important?
What is Estate Planning?
What does an Estate Plan include?
Is Estate Planning only for the Wealthy?
Estate Planning for Singles: Widowed, Divorced, and Never Married!
Estate Planning for Pets: Why it is important?
Estate Planning for Children: How to do it right?
Estate Planning Checklist: Important Guidelines & Details!
Estate Planning for Business: Why it is Important?
What Is Estate Planning?
What Does an Estate Plan Include?
Is Estate Planning Only For the Wealthy?
Estate Planning for Pets: Why You Need To Do It?
Estate Planning for Children
Estate Planning for Singles
Estate Planning Tips for A Married Couple
Do I Need an Estate Plan?
Estate Planning for Business
Estate Planning Lawyer
Periodontal Disease – You Might Have it and Not Even Know It
Why Hire a Professional Web Development Company
Home Theater Installation NY: Basic Advice is Offered
Cosmetic Dentistry – Powerful Technology Can Give You Your Best Smile
Learn How Dental Implants Could Help Your Dental Health
Periodontal Disease – You Might Have it and Not Even Know It
Kids Teeth Flossing: 5 Top Parents Questions
Tongue Tie Treatment – Pediatric Dentistry Brooklyn
Thumb Sucking: Break the Unhealthy Dental Habit
Smile Makeover- a Fabulous Smile That All Will Envy
Oral Sedation Dentistry for Your Child
Child’s First Dental Visit: What Can You Expect
What Is Pulpitis and How It Is Treated?
Too High Filling: Why It Is Important to Correct
Top 3 Reasons You Shouldn’t Fear Root Canal Therapy
Cosmetic Dentistry- Powerful Technology Can Give You Your Best Smile
Best Option–Zoom Whitening in Brooklyn
Looking After Your Kid’s Primary Teeth
Teeth Whitening – an Incredible Look That’s Effective and Safe
Types of Toothbrush Bristles To Know for Better Dental Hygiene
Dental Implants – Today’s Long-Term Solution of Replacing Missing Teeth
Don’t Let One Missing Tooth Damage the Rest of Your Mouth
Don’t Let One Missing Tooth Damage the Rest of Your Mouth. Dental Implants
Happy Dental Visit in Brooklyn: Child’s Experience
Have You Heard About One-Visit Dental Crown?
Have You Heard About One – Visit Dental Crown?
Invisalign Teen Could Help Your Kid in Brooklyn
Teeth Whitening Treatment: Whiter Smile in Just One Hour
Professional Teeth Whitening for Safe and Effective Results
Crooked Teeth? How We Can Help You
Crooked Teeth? How We Can Help You Invisalign
Learn How Dental Implants Could Help Your Dental Health
Is a Dental Implant Treatment Better Than a Bridge?

As the name suggests estate planning is basically a plan to deal with your estate. Estate planning is an essential tool to manage your assets when you are alive and finally when you die. This planning primarily deals with the aftermath of your death. Like what would happen to your assets after your death or who would you give it to. All these things are decided through estate planning.

What Does an Estate Consist Of?

Estate is actually everything that you own. It can be your car or your life insurance. Your personal possessions and savings account all come under the umbrella of estate. Obviously, all the property that you own also is part of your estate.

The Significance of Estate Planning

Estate planning is a necessary thing for everyone but most people do not opt for it. Some don’t know about it and some just think that it is unnecessary. But in reality, estate planning is for all of us. This is supposed to take care of your loved ones when you are no longer around. Thus, here are some of the reasons why estate planning is a must requirement for all of us.

You Can Choose Who Inherits Your Assets

This is a very necessary step that needs to be taken while you are planning your estate. Often you might think that why do you require to name anyone who inherits your property or other possessions. But it just so happens that after your death, it is the court who decides who should receive your assets. Now you may believe that this will resolve itself as your state’s intestacy laws will take care of it. However, money tends to bring out the worst in people and in our profession, we see a lot of family feuds over inheritance. There are things you may have overlooked for example being on the deed of one of your children’s homes in order to help them qualify for a mortgage. This would create an issue as now your other children can take advantage of the situation and try to claim those shares as part of their inheritance. Thus, it is always better to have estate planning to avoid such a family mess.

You Can Reduce Estate Taxes

A good estate plan can include tax mitigation strategies. For example, the current gift tax exemption is at a record high and can be used to limit your tax exposure. By creating a will and trust you can achieve a hundred percent in step-up basis for your primary home at the death of the first spouse.

Protect the Beneficiaries

Do you have children that are under the age of 18? These children for all intensive purposes are considered minors. It is especially important to have good estate planning in such a scenario. Remember without the proper documents such as a will or trust your beneficiaries are subject to either a probate or administrative proceeding in order to receive their inheritance. Furthermore, a minor who stands to inherit will have no say over such inheritance until they become of age and a guardian will be put in charge of their finances. A good estate plan allows you to choose who that guardian will be and how your monies are to be used for the benefit of your minor children.

This is the reason why estate planning is a must, especially when families have minor children. Thru carful planning you can protect and ensure that your children are well taken care of and hopefully not taken advantage of due to their inheritance.

Protection of Your Assets

Well, we love our belongings. Even it is a small co-op or a big house, whatever we own is dear to us and we want it to be taken care of when we are not around anymore. Estate planning is the perfect tool for making sure that your assets are kept safe. A good estate plan can not only protect your hard-earned wealth from creditors but can also see to it that upon your death when the assets pass to your loved ones they pass outside of marital property and their creditors.

Protection of assets is very important as it makes sure that your heritage is kept safe and it will continue to flourish long after your demise. In this respect, estate planning is the only and best option for asset protection.


We hope that this article has given you a brief idea of how estate planning is important for all of us. The best time for estate planning is actually now. The sooner you do it, the better it is. At the end of the day, you will be at peace knowing that your assets are distributed according to your wishes, safeguarded and preserved for your loved ones. The best time for planning is now, call us to schedule your free consultation.


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