Estate Planning: One Size Does Not Fit All

If you are like a lot of people, when you first start to recognize the fact that you should have an estate plan in place you may do some research on the Internet. The reality is that these days you can take care of a lot of things on your own due to the fact that there’s so much information out there, and this has helped to spawn the DIY craze. So, when you do browse the web looking for estate planning information you see will sites that would like you to believe that estate planning is a simple, one-size-fits-all endeavor that you can easily take care of for yourself. That is, if you buy one of the handy dandy estate planning kits or software programs that the website is selling.

The reality is that estate planning is not a universal endeavor that is the same for everyone. There are a number of different ways to transfer assets to your loved ones, and the optimal approach will depend on a number of factors that are going to vary on a case-by-case basis. Even a simple last will should be prepared with the realities of the probate court in your jurisdiction in mind. Each state has somewhat different parameters, so one generic template document can’t possibly be perfectly appropriate in every case.

Every family is unique, and each situation must be given personalized attention. There are those who would like to include incentives toward constructive behavior in their heirs; others have concerns about spendthrift family members; and people who are members of blended families often want to make provisions for children from previous marriages. Same-sex couples have a specific set of concerns that others may not have to address. And if you have a loved one who is physically or mentally challenged specialized planning may be called for.

Planning your estate is a serious matter that requires expert advice and guidance. One size does not fit all, and this is something to keep in mind when you hear Internet marketers talking about how easy it is to plan your own estate.

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Barry D. Horowitz, Estate Planning Attorney

Founding Partner and President at Nirenstein, Horowitz & Associates PC

Barry D. Horowitz is a founding partner and president of the law firm of Nirenstein, Horowitz & Associates, P.C. He received his diploma from the Loomis Chaffee School and his Bachelor of Arts from Bennington College, where he dual majored in philosophy and music. Mr. Horowitz was awarded his Juris Doctor degree with honors from the University of Connecticut School of Law. While attending law school, Mr. Horowitz received the American Jurisprudence Award in Legal Ethics and the Nathan Burkan Award...Read More!

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