• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Law Offices of Kobrick and Moccia

Long Island Estate Planning Attorneys

ESTATE, TRUST PLANNING &
ELDER LAW INFORMATION CENTER

Call Now: (800) 295.1917

  • Attend Our Free Webinars
  • Home
  • Our Firm
    • About Our Firm
    • Client Testimonials
    • Meet Our Team
  • Services
    • Blended Family Planning
    • Elder Law
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Guardianship
    • Medicaid Planning
    • Nursing Home Planning
  • Resources
    • Articles
    • Elder Law Resources
      • Commack Elder Law
      • Elder Law Reports
      • Harrison Elder Law
      • Hauppauge Elder Law
      • Rockville Centre Elder Law
      • White Plains Elder Law
    • Estate Planning Definitions
    • FREE Estate Planning Worksheet
    • FREE Seminars
    • Frequently Asked Questions
      • Elder Law
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Is My Estate Plan Outdated?
    • Legacy Wealth Planning Consultation Form
    • Medicaid Resources
    • Probate Resources
      • Harrison Probate
      • Hauppauge Probate
      • Long Island Probate
    • Probate Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Top Estate Planning Techniques
  • Communities We Serve
    • Nassau County
      • Garden City
      • Lynbrook
      • Malverne
      • Rockville Centre
    • Suffolk County
      • Commack
      • Dix Hills
      • Hauppauge
      • Nesconset
      • Smithtown
    • Westchester County
      • Harrison
      • Mamaroneck
      • Rye Brook
      • White Plains
  • Webinars
  • BLOG
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
Home » Estate Planning » The Intimacy of Estate Planning

The Intimacy of Estate Planning

January 22, 2014 by Anthony Moccia Leave a Comment

The last thing many people would equate to intimacy is estate planning. Just ask anyone who’s ever had to face reality after a terminal illness or devastating accident, they will tell you that things become very personal faster than you can say power of attorney. This week, we shed the logistics and focus on the ties that bind and the intimacy of estate planning.

Facing Mortality

Most of us realized long before we began preparing our will that we wouldn’t live forever. Whether that brutal fact (or sometimes not so brutal) hits us right smack dab in the middle of a proper midlife crisis or if it occurred to us as we watched our youngest child walk up to accept her college degree, forever isn’t an option when it comes to living.

Ideally, those realities are enough to prod us into our estate planning lawyer’s office to cover the legal bases. Specifically, that means our will, any necessary powers of attorney and trusts should take priority in our lives. In fact, the point could be argued that we have a responsibility to our families to keep these documents current.

Estate Planning Isn’t Only for the Wealthy

You’ve lived modestly, saved for retirement and played by the other rules financial analysts insist are crucial. Even then, many believe they don’t have the wealth to justify estate planning. Once you begin delving into your assets, it becomes clear that estate planning isn’t just for millionaires.

Remember the purpose of estate planning is to distribute assets among your beneficiaries. It’s also important for tax purposes and not to mention the avoidance of a lengthy probate process. The probate process will only affect assets in the deceased’s name. It doesn’t include joint property since that goes to the surviving owner. Those who die testate (with a will), the courts will simply acknowledge and properly file the will. Intestate, on the other hand, is when a will doesn’t exist; the courts then make the decisions applicable to state law. By memorializing your wishes, it can help prevent too many hurt feelings within your family – or at least minimize any suspicions of ulterior motives.

The Intimacy of Estate Planning

Before you begin the planning process or if you’re updating a will, it’s always a good idea to list your assets. Don’t forget to include property you own, retirement accounts, stocks, cash on hand, jewelry, antiques and life insurance policies; it simply provides perspective as you move forward. Also, you might want to start thinking about who will inherit your estate. This way, once you meet with your estate planning lawyer, you’re more likely to provide her with a complete snapshot, so to speak, of what your estate looks like.

Even as the tax laws change often – both on state and federal levels – those whose estates do not exceed $5 million don’t have to worry about federal estate taxes. Keep in mind, some states have their own estate taxes, again, this is something you’ll want to discuss with your estate planning lawyer.

It’s really important to cover these bases and put the wheels in motion that can save your family a lot of unnecessary stress. It’s challenging, of course, but because estate planning is very personal and intimate, the last thing you want to do is put this into a court’s hands to decide for you.

  • Author
  • Recent Posts
Anthony Moccia
Anthony Moccia
Anthony Moccia is an attorney and partner at The Law Offices of Kobrick & Moccia.His practice focuses on estate planning and elder law.He is a member of the New York State and Nassau County Bar Associations.He frequently presents free seminars on wills & living trusts to area residents and his seminars are said to be “informative, entertaining & easy to understand.”
Anthony Moccia
Latest posts by Anthony Moccia (see all)
  • “Last Will and Testament” Origin - April 1, 2021
  • Do I Need a “Durable” Power of Attorney? - April 2, 2020
  • Joint Tenancy Pros and Cons - March 31, 2020

Filed Under: Estate Planning Tagged With: Asset Protection Planning, assets, Creating a Will, Estate Planning Lawyers, Inheritance Taxes, power of attorney, probate, trusts, wills

Other Articles You May Find Useful

“Last Will and Testament” Origin
Joint Tenancy Pros and Cons
Joint Tenancy Pros and Cons
Planning for the Sandwich Generation
Planning for the Sandwich Generation
Best-Places-to-Retire-State
Best Places to Retire: State Taxation
men writing on paper
Whom Do You Want to Get Your Assets?
men writing on paper
Beneficiary Designations and Other Non-Probate Transfers

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

Law Offices of Kobrick and Moccia

Download our free estate planning worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

GARDEN CITY

1305 Franklin Avenue Suite 170
Garden City, NY 11530
United States (US)
Phone: (516) 248-9500
Fax: (516) 248-7606

HAUPPAUGE

150 Motor Parkway Suite 401 (Regus)
Hauppauge, NY 11788
United States (US)
Phone: (631) 941-3400
Fax: (516) 248-7606

HARRISON

600 Mamaroneck Avenue, 4th Floor
Harrison, NY 10528
United States (US)
Phone: (914) 701-0777
Fax: (516) 248-7606

MAP

kobrick_sidbr_map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Footer

footer-logo
  • Facebook
  • LinkedIn
  • Twitter

The information on this Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Kobrick and Moccia, Attorneys at Law. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

Law Offices of Kobrick and Moccia
Attorney Advertisement
© 2023 American Academy of Estate Planning Attorneys, Inc.