Estate Planning

Having a comprehensive estate plan in place is beneficial to every adult at every stage of life. Being prepared when you head into your retirement years, however, is especially important for several reasons. Unfortunately, a surprising number of retirees are not prepared, according to a recent survey. To help ensure that you are prepared, the Long Island attorneys at Eghrari Law Firm discuss common estate planning documents that all retirees should have in place. Survey Shows that Retirees …

Would you be surprised to learn that the State of New York has over $18 billion in unclaimed funds? That is certainly a staggering number. Some of that money comes from unclaimed inheritances. Whether you are working on your own estate plan or you have reason to believe that you might be entitled to some money, it helps to know what happens to assets that go unclaimed after a death. Toward that end, the Long Island estate planning attorneys at Eghrari Law Firm explain what happens to an …

All adults should have at least a basic estate plan in place given the numerous benefits an estate plan offers. For women, however, estate planning can take on a heightened importance. The Long Island estate planning attorneys at Eghrari Law Firm explain how estate planning is difference for women. Why Is Estate Planning More Important for Women? Statistically, women are more likely to outlive their spouse, ultimately leaving them to be the one to pass down the marital assets to children …

Failing to plan for your own funeral and burial could cost your loved ones, in more than one way, after you are gone. First, your loved ones may end up paying more than they should for your funeral services. Moreover, in the absence of concrete guidance from you, the chance of confusion or conflict increases dramatically.  Ultimately, loved ones could end up in a contentious battle over the details of your funeral that could cause a rift in the family for many years to come. Finally, …

Estate planning can be an intimidating prospect for most people given the importance of the final product. It doesn’t help that most of the tools and strategies used in an estate plan are unfamiliar to the average person. Narrowing down the focus of your estate plan can help. With that in mind, a Long Island estate planning attorney at Eghrari Law Firm discusses things to consider when creating your first estate plan. 5 Things to Consider Although every estate plan is as unique as the …

Once you have your estate plan finished, you may start thinking about sharing – or not sharing -- the details of that plan with your loved ones. It is a very personal decision and there is no “right” or “wrong” way to look at the issue. There are, however, advantages and disadvantages to both choices. A Long Island estate planning attorney at Eghrari Law Firm discusses whether to discuss the details of your estate plan or keep them private. Discussing the Details of Your Estate …

Every estate plan should be uniquely designed to meet the needs of the individual creating the plan. Once that plan is in place, some people choose to share the details with loved ones. Others, however, prefer to keep those details private. If you are among those who prefer not to divulge the details of your estate plan, the Long Island estate planning attorneys at Eghrari Law Firm discuss how to keep your estate plan private. Your Last Will and Testament A Last Will and Testament is a …

Like many people, you may have spent considerable time thinking about the details of your estate plan but spent very little time deciding who should serve as fiduciaries within that plan. Unfortunately, that increases the likelihood that you already have, or will, choose the wrong person for a fiduciary role within your estate plan. To help keep you from making this common mistake, a Long Island estate planning attorney at Eghrari Law Firm urges you to be careful when appointing fiduciaries in …

Every year in October, the LGBT community and their supporters celebrate LGBT History Month.  If you will be among those who are celebrating the importance of LGBT history this October, you should also take the time to review and revise your estate plan. LGBT History Month reminds us that while great strides have been made in the fight for equality, protecting yourself, your assets, and your loved ones through comprehensive estate planning remains essential. With that in mind, the Long …

Although your initial estate plan may consist of nothing more than a Last Will and Testament, that plan will likely grow and expand over the years to include numerous estate planning documents. Where you keep those documents is more important than you may realize. Your safety deposit box may seem like the logical choice if you keep other valuable documents there; however, that is not the best place for your estate planning documents. The Long Island estate planning attorneys at Eghrari Law Firm …

Deciding how your estate assets are to be distributed after you are gone may be a primary estate planning goal; however, it should not be your only goal.  Making sure that your loved ones can access those assets when they need them after your death, for example, should be an equally important estate planning goal. To achieve that goal, your estate needs sufficient liquid assets. Toward that end, the Long Island estate planning attorneys at Eghrari Law Firm explain the need for liquidity …

Estate planning is important for everyone, especially parents with young children. As a parent, you undoubtedly want to protect your children and provide for them. A well thought out and constructed estate plan ensures that you can continue to do both if something happens to you. With that in mind, the Long Island estate planning attorneys at Eghrari Law Firm discuss estate planning for parents with young children. How Is Estate Planning Different When You Have Minor Children? While you …