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Financial health is about more than just saving and investing. It’s also ensuring your assets are protected, your wishes are carried out, and your loved ones are cared for after you’re gone. This is where estate planning comes into play. By preparing a will and using other estate planning tools, you can safeguard your financial future and reduce stress on your family.

Why Estate Planning Is Crucial for Financial Health.

When we think about financial health, it’s common to focus on income, savings, and investments. But without proper estate planning, your financial legacy can be at risk. A will is a legal document that lets you control how your assets are distributed after your death. Without a will, New York State law determines how your estate is divided, which may not align with your preferences. For example, if you have minor children, a will can designate a guardian for their care and specify how their inheritance should be managed. This ensures their financial security, preventing mismanagement. It also helps avoid family disputes over sentimental items, giving you control over how meaningful possessions are passed down.

Powers of Attorney and Healthcare Proxies: Protecting Your Health and Finances.

Estate planning isn’t just about what happens after you pass away; it’s also about making sure your wishes are followed if you can’t make decisions for yourself. A healthcare proxy and durable power of attorney are two powerful tools to consider. A healthcare proxy lets you appoint someone to make medical decisions on your behalf, ensuring your preferences for treatment are respected. This reduces stress on your family during difficult times. A power of attorney allows a trusted individual to manage your finances if you become incapacitated, ensuring your bills are paid and assets protected.

The Mental and Emotional Health Benefits of Estate Planning.

Estate planning doesn’t just protect your financial health — it also provides peace of mind. Knowing your affairs are in order can reduce anxiety, for you and your family. By having a solid plan in place, you can help your loved ones avoid the stress of navigating legal challenges after your passing, giving them the space to focus on healing and moving forward.

Estate Planning: Start Early, Revisit Often.

It’s never too early to start thinking about estate planning. Life circumstances change over time — whether it’s the birth of a child, the purchase of a new home, or even changes in tax laws. Reassessing your plan regularly ensures it stays up- to-date and continues to protect your financial health.

Contact Us for Guidance.

At Long & Paulo-Lee, PLLC, we understand how personal and important it is to protect your financial health and your legacy. Our experienced attorneys can guide you through every step of the estate planning process, from drafting a will, to setting up trusts and powers of attorney. Visit us at www.LongPauloLee.com, or call 716-634-7400 to schedule a consultation.