WHAT IS ESTATE PLANNING?

FAQs and Answers

ESTATE PLANNING

What Is Estate Planning?

At its heart, estate planning is about answering the

question of what you want to happen to

your property after you die

ESTATES

What Is an Estate?

Your estate is all the property you leave behind you after you

are dead

It includes all of your assets, as well as your liabilities or

debts

PROBATE

What Is Probate?

Probate is the legal process that applies to your estate

Once you’re dead, your estate will have to go to new owners

New York probate laws govern this process

INTESTACY

What Happens to My Estate If I Don’t Have an Estate

Plan?

If you die without an estate plan, your property will still

have to be transferred to new owners

However, you will not have any control over how this happens

Instead, your property will pass in accordance with

New York’s intestacy laws

INCAPACITY PLANNING

What Is an Incapacity Plan?

Apart from addressing estate concerns, estate planning also addresses what will happen to

you should you become incapacitated

Incapacitated people cannot make choices, and need others to do so on

their behalf

AGE AND WEALTH

Aren’t Estate Plans Only for the Old And Or The

Wealthy?

NO

Every adult has estate planning questions that only

they can answer

If you fail to answer these questions, you leave it to the

laws of the state of New York to

answer those questions for you

CHOICES

What Is the Best Time to Begin Estate Planning?

IMMEDIATELY

EVERY CAPABLE ADULT should have at least a basic estate plan made as soon as

possible

LEARN MORE ABOUT ESTATE PLANNING IN ROCHESTER NEW

YORK

Click to visit:

mrobinsonlaw.com(585) 374-5210