The New Year is right around the corner and residents of Buffalo may be busy making resolutions and plans for 2019. While most people will focus on making changes to their lifestyles that will introduce health and happiness into their lives, everyone should be taking into account an important consideration about the future: their estate plan.
Most people have heard of estate planning and some may even know something about it. A select group of others may have wills in place and others may have more complex plans developed for the protection of their assets. In general, an estate plan is a set of documents that instructs others of how to distribute a person’s assets after that person passes away, what kind of end-of-life care the person wants, and who should make critical health care and financial decisions if the person becomes incapacitated.
Everyone should have an estate plan in place. Even if a reader of this blog believes that the items they own do not warrant an extensive set of planning tools, they can still benefit from having a basic estate plan in place. When a person dies without an estate plan their assets will pass according to the laws of New York, even if those laws conflict with the decedent’s wishes.
The law office of Cohen & Lombardo works with clients of all financial backgrounds to develop and execute estate plans that meet their needs and ensure that their wishes will be effectively communicated at their deaths. To begin the process of creating a personalized estate plan, readers are invited to visit Cohen & Lombardo’s estate planning website. There they can learn more about the tools they can use to prepare their estates.