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Law & Legal
  1. How to Qualify for a Medicaid Waiver
  2. Six Reasons Someone May Be Placed Under a Guardianship
  3. What Can Be Included in a Will?
  4. How Much Should You Put as a Down Payment on a House?
  5. 3 Assets That Can Fund a Trust
  6. Why You Should Have a Life Insurance Policy
  7. Is Real Estate a Good Financial Investment?
  8. S-Corp vs. C-Corp
  9. 5 Reasons Someone Might Disinherit a Child
  10. Benefits of a Testamentary Trust
  11. Steps on How to Sign Up for Life Insurance
  12. What is the Estate Administration Process?
  13. What Types of Government Benefits are Available for the Elderly?
  14. What is the Job of an Executor?
  15. What is a Simple Estate Plan?
  16. Why You Should Have a Will
  17. 3 Things You Need to Prepare Your Taxes
  18. Tips for Planning an Estate
  19. What is Electronic Notarization?
  20. Are There Requirements to Qualify for Medicaid Home Care?
  21. 3 Benefits of Tax Planning
  22. 3 Things to Know About Retirement Planning
  23. How Does Mental Illness Impact Your Estate Planning Process?
  24. What is a Lawsuit for Wrongful Death?
  25. What is The Tax Code?
  26. Guide to Become a Tax Advisor
  27. Does My Parents' Divorcing Impact My Inheritance?
  28. Guide to Understand When You Should and Shouldn't Buy a Home
  29. 3 Things a CPA Can Help With
  30. Tips to Maximize Your Tax Refund
  31. 3 Reasons You Should Have a Tax Accountant on Retainer
  32. Do Self-Employed Individuals Get Taxed Differently?
  33. What are Unclaimed Funds?
  34. 4 Things to Know About Surrogate's Court
  35. 3 Reasons Having Advance Directives is Important
  36. What are Estate Taxes?
  37. What is The Estate-Tax Exemption?
  38. Who Has to File Taxes?
  39. 3 Reasons You Should Have a Trust Protector
  40. Understanding Spousal Impoverishment
  41. Who Files Taxes For Businesses?
  42. Should I File My Taxes Using Turbo Tax?
  43. 3 Ways to Protect Against Financial Exploitation
  44. Who Qualifies for a Special Needs Trust?
  45. Guide on How to Write Off Business Expenses When Doing Your Taxes
  46. 3 Things Every Small Business Should Know
  47. Why Updating Your Will is Important
  48. What is the Probate Journey?
  49. What Happens if I Don't File My Taxes?
  50. Tax Accountant vs CPA
Tips for Planning an Estate {{ currentPage ? currentPage.title : "" }}

Many people think that estate planning is only something that people with high incomes or valuable assets need to worry about, but the truth is that virtually everyone can benefit from estate planning. The process of estate planning can involve something as simple as drafting a will, but it can also be as large as creating multiple trusts to which your assets will be given upon your passing.

No matter who you are or what you want to happen to your estate after you pass away, below are some tips you can use to plan your estate and gain peace of mind:

Draft a Will

As mentioned above, drafting a will can be a part of your estate planning. Having a will in place can keep your estate largely out of the probate process, and this can make it easier for your loved ones to ensure your wishes are carried out. You can work with an estate planning professional to draft a will, but there are also online services available that allow you to handle some of the details yourself.

Follow Local Laws

State and local laws can also affect your estate planning. This is why you’re encouraged to work with a local estate planning professional however you decide to pursue the process. Keep in mind that your estate plans may need to be reevaluated if you move. An NYC estate planning professional can create a solid strategy for your plans in New York. If you move, however, the plans made by your NYC estate planning partner may not apply the same in your new state.

Do What You Want

Lastly, remember that your estate plan is yours and yours alone. You don’t have to include anyone in your estate plan that you don’t want to include. You’re discouraged from working with an estate planner who doubles as a salesperson because these types of estate planners often try to steer people into certain types of investments or accounts. When you create your estate plan, you have a chance to leave behind a legacy, and it’s your right to protect this legacy however you see fit.

Author Resource:-

Mark writes often about tax and estate planning. His articles may include topics like tax planning, estate planning, business accounting or any other tax service to help the people in needs. You can find his thoughts at estate planning blog.

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