Long Island Elder Law & Estate Planning

People have a lot of questions about estate planning, and we understand that. As a response we have assembled a library of free reports that you can access through our website. We pass along a steady stream of information on this blog, and we also offer free estate planning seminars.

We encourage you to attend one of our seminars, and please feel free to download any of our free reports that you may be interested in.

In this post we would like to answer three frequently asked questions about estate planning.

Is estate planning only for the rich?

The answer to this question is no. The vast majority of people work throughout their lives, accumulating financial assets along the way.

It’s not always as simple as leaving everything to your spouse.

Many people get divorced after having children, and a lot of these people remarry. You may have a special needs person in the family. Perhaps you are a small business person and succession planning is a factor.

Even if you are not extraordinarily wealthy a carefully tailored, individualized estate plan is a must.

Can I plan my own estate?

There are downloads and worksheets on the Internet that you can buy. They enable you to construct legal documents, including last wills.

However, last year Consumer Reports advised against DIY estate planning for a number of different reasons, and you may want to take this advice to heart.

Is estate planning only important for senior citizens?

To be totally fair, of course senior citizens die with greater frequency than young adults. However, it is unlikely that you will total your car but you carry automobile insurance. Young adults do in fact pass away every day, so it is better to be safe than to leave your loved ones in a difficult financial situation if you do in fact pass away before your time.

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About Eghrari Wealth Training Law Firm

Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.