Mullen and Iannarone, P.C.
Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

Creating a sensible estate plan

Most people in New York understand the importance of developing an estate plan. They know that having a will and establishing powers of attorney not only protects their interests and wishes, it can also help prevent family conflict during what is usually a tough time. Unfortunately, sometimes individuals establish estate plans that are overly complicated and do not meet their needs nor those of their loved ones.

Many individuals feel uncomfortable around estate planning issues. This is because they may not wish to talk or think about their eventual death or the possibility of becoming so ill that others have to make decisions for them. In addition, close family members may also find such discussions upsetting. This discomfort is understandable, but it has its dangers. When people delay the process, there is a risk of dying without a will, which can result in assets passing under state intestacy laws to recipients that the decedent may not have wanted to receive them or, conversely, decisions being made under a great deal of pressure.

Ideally, estate planning should be done when an individual or couple is in good health, relaxed and can communicate their wishes, concerns and needs to legal and financial professionals. This allows for the creation of documents that truly make sense for the them as well as their loved ones. In situations where people feel rushed or are panicking, they may agree to provisions that are unnecessary, and that may deplete the estate of needed funds.

Estate planning is not a one-size-fits-all proposition, which is why people with even the simplest of estates should work with an experienced attorney rather than using an online will service. An attorney can point out that a will may not cover the entirety of a client's goals and desires.

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