How to Start the Year with a Strong Estate Plan in Brockport, NY

As we step into 2025, now is the perfect time to take control of your future and start the year with a strong estate plan. Whether you’re planning for retirement, securing your family’s financial future, or ensuring that your assets are distributed according to your wishes, having an estate plan in place is essential. If you live in Brockport, NY, or the surrounding Rochester area, Klafehn, Heise & Johnson P.L.L.C. is here to help guide you through the process. In this article, we’ll discuss the importance of estate planning and the key steps you should take to get started.

Why Estate Planning Is Important in Brockport, NY

Estate planning isn’t just for the wealthy—it’s for anyone who wants to ensure their family, property, and finances are taken care of after they pass. Without a proper estate plan, your loved ones could face a lengthy and costly probate process, and your assets may not be distributed as you intended.

A well-crafted estate plan can:

• Protect your assets: Ensure that your property, savings, and investments are distributed to your beneficiaries.
• Designate guardianship: If you have minor children, estate planning allows you to name a guardian for them in the event of your death.
• Avoid probate: Some estate planning tools, like living trusts, can help your estate avoid the lengthy probate process.
• Provide for loved ones: Ensure your spouse, children, and other family members are financially secure after you’re gone.

Start the Year Strong by Taking These Key Steps

Creating or updating your estate plan can seem overwhelming, but with the right guidance, it doesn’t have to be. Here are the essential steps to take to ensure your estate plan is strong and ready for 2025.

1. Create a Will

A will is the foundation of any estate plan. It’s a legal document that outlines how your assets will be distributed after your death. Without a will, New York state law will determine how your assets are divided, which may not align with your wishes.

What should your will include?

• Asset distribution: Who gets what? Make sure to clearly state who receives your assets, including property, bank accounts, and personal belongings.
• Guardianship: If you have minor children, your will should designate a guardian who will take care of them.
• Executor: This is the person you trust to carry out the terms of your will. Choose someone reliable to manage your estate.

Contact Klafehn, Heise & Johnson P.L.L.C. to get help drafting a legally sound will that ensures your wishes are carried out.

2. Consider a Trust

While a will directs how assets will be distributed, a trust can be a more flexible option for avoiding probate and minimizing taxes. A trust allows you to place assets in the care of a trustee, who will manage and distribute the assets on behalf of your beneficiaries.

Why should you consider a trust?

• Avoiding probate: Assets in a trust can be transferred directly to your beneficiaries without going through probate.
• Reducing estate taxes: A trust can help reduce estate taxes, allowing more of your estate to go to your loved ones.
• Flexibility: Trusts can be customized to fit your specific needs, whether you want to leave money for education, healthcare, or other purposes.

Let our team at Klafehn, Heise & Johnson P.L.L.C. help you explore whether a trust is right for you. Contact us today to schedule a consultation.

3. Review Beneficiary Designations

Many assets, like life insurance policies and retirement accounts, have beneficiary designations. These assets pass directly to the named beneficiary, regardless of what’s stated in your will. It’s important to review these designations regularly to ensure they reflect your current wishes.

Make sure your beneficiaries are up-to-date

• Life insurance policies: Are your beneficiaries still the people you want to provide for?
• Retirement accounts: Confirm that your IRA or 401(k) accounts have the right beneficiaries listed.
• Bank accounts: Some accounts may allow you to name a payable-on-death beneficiary.

Regularly reviewing these designations can save your loved ones time and hassle when handling your estate.

4. Consider Healthcare Directives

A comprehensive estate plan doesn’t just cover what happens after your death—it also addresses what happens if you become incapacitated and can’t make decisions for yourself. Healthcare directives, such as a living will or healthcare proxy, are essential for ensuring your wishes are respected during critical moments.

What should your healthcare directive include?

• Living will: Specify your preferences for life-sustaining treatments if you are terminally ill or in a vegetative state.
• Healthcare proxy: Appoint someone you trust to make medical decisions on your behalf if you’re unable to do so.

Klafehn, Heise & Johnson P.L.L.C. can help you create a healthcare directive that ensures your medical wishes are respected. Reach out to us to learn more.

5. Review and Update Regularly

Estate planning isn’t a one-time task. Life changes, such as marriage, the birth of children, or the acquisition of significant assets, can affect your estate plan. It’s essential to review your plan regularly—at least every few years—and after any major life changes.

When should you review your estate plan?

• After the birth or adoption of children
• When you acquire or sell significant assets, such as a home or business
• After a change in marital status (e.g., marriage, divorce)
• After the death of a family member or beneficiary

Stay ahead of any changes by regularly updating your estate plan. If you’re unsure when to update, contact us for advice.

Start Your Estate Planning Today

Creating or updating your estate plan is one of the best things you can do for your future and the future of your family. Whether you’re in Brockport or Rochester, Klafehn, Heise & Johnson P.L.L.C. is here to help guide you through the process and ensure that your estate plan reflects your wishes.

Start 2025 with peace of mind. Contact us today to schedule a consultation and ensure that your estate planning is complete and comprehensive.

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Legal Disclaimer: This article provides general information about legal strategies and guidance for estate planning and probate law in New York State. It should not be construed as legal advice or a substitute for consulting with an attorney. Each individual’s situation is unique, and laws can vary from state to state. For specific legal advice and guidance tailored to your transactions and circumstances, consult with the attorneys at Klafehn, Heise & Johnson PLLC in Brockport, NY. You can contact us here. Portions of this account are considered ATTORNEY ADVERTISING under the New York State Unified Court System Rules of Professional Conduct (22 NYCRR Part 1200). Prior results do not guarantee a similar outcome.