Resnick & Moss, P.C.

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We pride ourselves on our commitment to practice law with the utmost competence, the highest standard of ethics and to always provide our services at a reasonable cost. CONTACT OUR FIRM Estate Planning Estate planning is planning for life and death. Since we're all a little squeamish about death, especially when we're the ones involved, there is a natural tendency to avoid the Estate Planning process. It is this discomfort that leads to procrastination and results in the fact that only about two out of every five Americans have a will. The fact that so few Americans have a will is ironic. We spend most of our lives working hard to earn enough money and property to make the lives of our children and spouses, friends and business associates happier, wealthier, and more secure than our own. Yet, most of us fail to do the one thing that's essential to make sure those we care about receive the fruits of our labor - we fail to plan for them because we fail to plan our estates. Estate planning pays real dividends in results achieved, in dollars saved, and most important, in security and peace of mind. Moreover, estate planning doesn't have to be expensive, traumatic, or even especially time-consuming. Estate planning often saves money by reducing taxes and the expenses of death. It saves time by speeding the process by which property passes from you, at your death, to your family, friends, or anyone else you want to have it. Finally, estate planning allows you to make the critical decisions about the disposition of your property and the care of your family. In a very real sense, estate planning makes you the Boss. Estate Planning Questionnaire ESTATE PLANNING BASICS I . What is an "estate?" Almost everyone, single or married, has an estate. It consists of all your property, including for example: * real estate, for example, a home; * personal property such as cars and furniture; * intangible property such as bank accounts, stocks and bonds, and pension and social security benefits, and the face value of your life insurance policies. An estate plan is your instructions for the distribution of all your property after you die. II. Isn't a will all I need'? Not necessarily. While a will often is the most important piece of an estate plan, it's not the only part. A Will distributes your assets upon your death. Yet, there are a number of options in addition to, or in place of, a will for distributing property. Beneficiary designations, joint ownership, and trusts can also be used to transfer property upon your death. In addition to other estate planning objectives of the client, choosing an appropriate asset transfer method is a crucial part of a properly planned estate. III. How can an estate plan distribute my property quickly? Everyone's estate is different and requires individual attention. Many people need to control, or even stagger, payments to their loved ones for various reasons. Some people want their beneficiaries to receive the property left to them as quickly as possible. The various factors in each individual's life need to be considered when planning your estate.

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