Administering your estate with an eye toward the future

by | Jun 2, 2015 | Estate Administration |

Proper estate planning includes attempting to foresee many potential problems and prevent them before they actually occur. That’s because once you are gone your estate will depend on those you have entrusted to look after how your affairs are handled in the future. It’s important for you to know that the individuals you select as your estate’s administrators and trustees are required by law to always act in the best interests of your estate. Obviously, this can be nearly impossible to enforce after your death.

That’s why it’s important to establish the groundwork now so that your relatives and other beneficiaries will continue to enjoy the things that your estate plan bestows to them. Although some probate issues regarding your estate plan can be unavoidable, there are some things you can do now to prevent many future problems.

Frequent readers of our online blog may recall an article we wrote previously regarding some hidden online financial hazards. In that article we talked about bills that are currently set using auto-pay systems. These accounts may continue to draw money from your bank unless you have previously taken the time to notify relatives or otherwise specify them in your estate plan.

That’s only one example but it shows why naming your attorney as the administrator of your estate can have several advantages. Your attorney can ensure that your interests are safeguarded against all potential contingencies. This can include challenges creditors may make against your estate. Your attorney can also represent your interests when determining heirs, paying taxes on your behalf, or even just keeping an accurate accounting of your estate’s value as the years go by.

Based in Rochester, our law firm has over 50 years of legal experience representing clients in Monroe County and throughout New York. We know how to help you avoid many probate issues and reduce conflict regarding your estate plan. Prospective clients should also know that our law firm offers free confidential initial assessments regarding their particular estate planning needs.