Long Island estate planning attorney Seth Schlessel releases a new article (https://www.schlessellaw.com/) explaining the costs involved in estate planning in New York. The lawyer mentions that it can be confusing to decide what strategy to use when planning how to distribute one’s wealth and assets. Even with a will, knowing how to fully maximize its purpose can be difficult.
“Trusts and Wills are two important documents to include in planning for estates. They both serve distinct purposes. On Long Island, clients usually only use Wills or only use Trusts to settle their estates, depending on their needs. However, a well-designed estate plan should be able to cover both unexpected and expected events. In some cases, it may be necessary to mix both,” says the Long Island estate planning attorney.
The lawyer mentions that a Will is a legal document that is part of an estate plan. It is the manual that will be used when it comes to property distribution once the owner of the estate passes away. On the other hand, a trust holds the assets and manages them for the trustor.
Attorney Seth Schlessel also explains that on Long Island, there is no fixed cost for planning an estate. The cost of the estate planning usually depends on what documents are required and who the owner of the estate chooses to represent them. Simple estate plans can cost from $1,000 to $3,500 or more.
In the article, attorney Schlessel adds that full estate planning can cost a person around $1250. Often, it can be difficult to determine the cost of an estate plan. The estate planning lawyer must be able to understand whether their client needs a Trust or a Will.
According to the Long Island estate planning attorney, “Careful planning of estates helps individuals avoid lengthy litigation processes and also helps the surviving loved ones avoid disputes. Seeking a lawyer whose practice focuses on comprehensive planning for estates and avoiding probate litigation should be the first step for anyone who is looking to plan their future.”
Lastly, attorney Schlessel emphasizes that having an estate planning lawyer is important in order for the client to save money while also planning their future in an efficient manner.
About Schlessel Law PLLC
Seth Schlessel is the founder of Schlessel Law PLLC. As a skilled estate planning attorney, Mr. Schlessel understands the importance of a comprehensive estate plan to a family’s future. He and his team have helped many families preserve their assets and ensure that a person’s wishes are carried out the way they want. Aside from estate planning, the firm also helps with elder law, personal injury law, and startup/corporate law. Contact us today to learn more.
Schlessel Law PLLC
34 Willis Ave Suite 300, Mineola, NY 11501, United States
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(516) 574-9630
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For more information about Schlessel Law PLLC, contact the company here:
Schlessel Law PLLC
Seth Schlessel
+15165749630
seth@schlessellaw.com
Schlessel Law PLLC
34 Willis Ave Suite 300, Mineola, NY 11501, United States
