Long Island Estate Planning Lawyer Seth Schlessel Discusses How Often a New York Estate Plan Should Be Updated
Sep 8, 2022
September 08, 2022 - /PressAdvantage/ - Long Island estate planning lawyer Seth Schlessel releases a new article (https://www.schlessellaw.com/how-often-should-you-update-your-new-york-estate-plan/) on how often estate plans should be reevaluated and updated. Attorney Schlessel notes that estate plans should be revisited every five years as a general rule of thumb but can also be done after significant milestones in an individual’s life.
The Long Island estate planning lawyer adds that building a family is a life event that should prompt updating an estate plan. An individual should look into including any children they have or adopt into an estate plan, especially if the children are less than 18 years old. Including stepchildren in an estate plan is also something that needs to be addressed.
On the matter of marriage, attorney Schlessel advises that “Getting married and getting divorced both create massive changes to the way that you may want to handle your estate in the future. You’ll need to remove your ex and add your new spouse.” For unmarried couples, there is still the possibility of including a life partner in an estate plan under New York law.
Attorney Seth Schlessel also emphasizes the need to update estate plans after significant financial changes in one’s life. These include starting a business, purchasing real estate, or getting additional sources of income. Retirement is also considered something that could affect an individual financially, and planning for retirement should be included when evaluating an estate plan.
“If you get diagnosed with a terminal illness or an illness where the prognosis is poor, it’s time to update your estate plan right now. You need to know that both your death plan and your long-term care plan are firmly fixed in place,” the Long Island estate planning attorney adds.
Should an individual move across state lines, evaluating whether the estate plan is still legally binding would be beneficial. Learning about differences between state laws would ensure that the estate plan is as airtight as possible, and there would be no issues executing the will under the new state’s laws.
The lawyer clarifies that a comprehensive estate plan's goal is to ensure families and their assets are protected. Planning to ensure that assets are distributed accordingly is an excellent way to ensure that beneficiaries are protected should the unexpected happen. Federal and state estate taxes can also significantly impact the assets that would eventually be passed on to the beneficiaries. Learning more about available options can help in finding the best estate plan that suits one’s needs.
Attorney Seth Schlessel emphasizes the importance of consulting with a qualified New York estate planning attorney. The help of an experienced attorney can make the difference between a poorly thought-out estate plan and one that would ensure one’s family and estate are protected.
About Schlessel Law
Schlessel Law PLLC, founded by the skilled Long Island estate planning attorney Seth Schlessel, is a firm dedicated to providing quality estate planning services to families and individuals on Long Island. Consulting with their experienced estate planning attorneys may help ensure that families and their loved ones are equipped for the future. The firm also practices startup/corporate law, personal injury, and elder law. To schedule a consultation, contact (516) 574-9630.
###
For more information about Schlessel Law PLLC, contact the company here:
Schlessel Law PLLC
Seth Schlessel
+15165749630
[email protected]
Schlessel Law PLLC
34 Willis Ave Suite 300, Mineola, NY 11501, United States
ReleaseID: 60054769
More News
Inde Navarrette Wins Halloween With Penis-Destroying Robot ‘SNL’ Sketch ‘The Inventor’s Wife’
After a pretty weak cold open that was crashed by Tom Hanks’ David S. Pumpkins, Donald Trump (who admitted he “might be gay”) and his MAGA minion Nicki Minaj, and an amusing opening monologue where host Inde Navarrette took a swipe at Shane Gillis, the Halloween edition of “Saturday Night Live” aired a surprisingly fun […]
Jennifer Lawrence reveals biggest nightmare on X-Men set: 'My least favorite part'
Jennifer Lawrence reveals biggest nightmare on X-Men set: 'My least favorite part'Jennifer Lawrence has revealed that she has no plans to return as Mystique, due to the extremely exhausting makeup process for the Marvel character.For those unaware, the Oscar-winning actress played the...
Inde Navarrette dresses up Saturday Night Live for Halloween
Inde Navarrette seemed more psyched to be hosting Saturday Night Live than anyone else so far this season. The show was more hesitant.
Kourtney Kardashian's Family Pics Are the Most Interesting to Look At
Roughly six years ago, Kourtney Kardashian decided to take on a new challenge: Discovering if her longtime friendship with Travis Barker could be a little something more. And, yes, they're doing...
'Shameless' star Emmy Rossum shares why she's done fighting her natural curls
'Shameless' star Emmy Rossum shares why she's done fighting her natural curlsEmmy Rossum is proudly embracing her natural curly hair and no longer worries about frizz caused by humidity.The Shameless star made a recent appearance at the 2026 WSJ Magazine Innovator Awards and Page Six inquired...
Chad Lowe moves on from daughter Fiona death with heartbreaking decision
Chad Lowe moves on from daughter Fiona death with heartbreaking decisionChad Lowe and his wife, Kim Painter, lost their daughter Fiona, to suicide in September this year and now the couple has decided to bring a change in their life after the tragic incident.The couple have put their home up for...
Robert Downey Jr. & Pedro Pascal Serve MCU Role Reversal For Halloween: “Costume Swap!”
With less than two months left on the Avengers: Doomsday clock, Robert Downey Jr. and Pedro Pascal swapped sides for Halloween. The pair traded off their MCU roles in a paired costume, with Downey dressing as Pascal’s character Mr. Fantastic and Pascal as Downey’s Dr. Doom, ahead of the movie’s Dec. 18 premiere in theaters. […]
Mariah Carey Goes Punk Before Declaring ‘It’s Time’ for Christmas – Watch Now!
Mariah Carey has defrosted and declared “It’s Time”! The Elusive Chanteuse took to social media to share her annual video […] The post Mariah Carey Goes Punk Before Declaring ‘It’s Time’ for Christmas – Watch Now! appeared first on Just Jared - Celebrity News, Entertainment News & Photos.
Heidi Klum’s Star-Studded Annual Halloween Party in New York City – Guest List Revealed!
Heidi Klum celebrated Halloween on Saturday (October 31) with a star-studded event! The 53-year-old supermodel hosted her 25th annual party […] The post Heidi Klum’s Star-Studded Annual Halloween Party in New York City – Guest List Revealed! appeared first on Just Jared - Celebrity News, Entertainment News & Photos.
Gracie Abrams Channels Baz Luhrmann’s ‘Romeo + Juliet’ For ‘SNL’ Halloween Performance
As Gracie Abrams celebrated Halloween with Saturday Night Live, she gave viewers a 2-for-1 costume special during her performances. The 2x Grammy nominee channeled Baz Luhrmann’s Romeo + Juliet (1996) as she serenaded the Studio 8H live audience, dressing as Leonardo DiCaprio and Claire Danes’ doomed lovers from the ultra-stylized adaptation of William Shakespeare’s tragedy. […]
‘Godzilla Minus Zero’ Stars Relive Hollywood Ovation and Fan Chants for Yamazaki Takashi at Tokyo Festival
The cast of “Godzilla Minus Zero” brought the glow of a Hollywood standing ovation to the 39th Tokyo International Film Festival on Sunday, two days before Yamazaki Takashi’s follow-up to his Oscar-winning “Godzilla Minus One” opens in Japan. Kamiki Ryunosuke, who returns as lead character Shikishima Koichi, and Hamabe Minami, who reprises the role of […]
Kelly Osbourne's feud with sister Aimee takes new turn amid rare family reunion
Kelly Osbourne's feud with sister Aimee takes new turn amid rare family reunionKelly Osbourne is reportedly hurt after her mother, Sharon Osbourne, and brother, Jack Osbourne, reunited with her estranged sister, Aimee Osbourne, after she announced she had broken off ties with Aimee.According to...
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.