Long Island Attorney for Will and Estate Planning
Get professional will and estate planning when you turn to Elsie Acevedo, Attorney at Law. Our law office has been helping clients across Suffolk County, Long Island with excellent will and estate planning to help people get their situation in order. These legal matters can become quite complicated, so having someone on your side will make sure that everything is in order.
It is important to note that estate planning and will writing are two different endeavors. Oftentimes they are linked due to their similarities and the circumstances leading up to them, but they are different terms. On the whole, estate planning is a broader plan of action to set assets both during a lifetime and for after death. Whereas a will is strictly dictating where the assets go after death.
So it is not uncommon for a will to be a part of an estate plan, but that is how it works. The will goes into the larger, broader, estate plan. These areas are difficult to navigate and often need a lawyer to accomplish. Elsie Acevedo is proud to help many across Suffolk County, Long Island with professional will writing and estate planning. When you turn to us, you will be getting reliable and trustworthy services. Know your will and estate plan are in order and get some peace of mind knowing it is effectively handled.
How Is Estate Planning Different from Will Planning?
As mentioned, will planning is different than estate planning. Wills are ultimately part of an estate plan. But an estate plan incorporates much more than simply a will. However, they both fall under the broad umbrella of estate planning. So understanding each allows you to get the most benefits from them. And having our law office help with each also goes a long way. You can ensure that everything is in order and set for the future without a worry.
The main difference between a will and an estate plan is the fact that a will is a legal document and an estate plan is a collection of legal documents. So an estate plan includes wills, trusts, and other types of powers of attorney. In short, an estate plan covers matters that a will simply cannot.
With that said, a will is a great place to start when beginning this process and ensuring that plans are set in place for the future and for after death matters. But to cover all grounds, creating an estate plan is highly recommended. They make sure that all heirs are fully covered in the event of a death.
A common misnomer about estate plans is that they are simply for rich people. That is not correct. No matter how big an estate is, there are always important areas to cover. Such as making sure the beneficiary designations on the insurance policies are set, property transfers are included, retirement accounts in order, and more. Getting all of this done legally allows for less stress and grey area in the event of someone’s passing.
By only choosing a will, there may be areas left undeclared, which may lead to headaches and potentially legal action. Such as the estate going into probate, which is often an expensive process and one everyone should want to avoid. On top of that, the leftover assets could end up being subject to hefty taxes. And at the end of the day, when there is no will or estate planning, then assets could end up in the wrong hands.
Why Wills Are Important
Wills are very important legal documents that specify how assets get divided out upon someone’s death. And the estate plan is simply a more comprehensive and broader way of handling assets regarding the death of an individual. And proper estate planning utilizes multiple legal documents, such as trusts, advance directives, powers of attorney, and yes, wills.
So having a will is great, but it is often just the first step when it comes to creating an estate plan. If you want to leave your heirs in the best position possible, make sure you have both a detailed will and a comprehensive estate plan. This way all of your assets end up in the right hands.
When you turn to Elsie Acevedo Attorney at Law, she can help with estate planning and legal will writing for clients across Suffolk County, Long Island. Get expert help in legalizing these documents and plans. And get some peace of mind that everything is in order.