Much of estate planning involves preparations that can streamline matters in the aftermath of a death. The probate process can be long and drawn-out, forcing families to wait months before working out the basic details of asset transfer. Alternatively, by using trusts, the process can be far more seamless, saving time and taxes. Trusts are important for all New York families, not just those with significant assets.
While it is prudent to handle legal and financial details in a timely fashion following a death, as a practical matter, it is important to not “overdo” it. A helpful article from Mondaq offers a few thoughts on ways that family members can “jump the gun” and cause more complications by rushing to deal with various matters.
Causing More Complications