As the year winds down and families begin planning for the holidays, many people start to reflect on what they’ve accomplished and what still needs to be completed. While estate planning probably isn’t the first thing on most people’s holiday to-do lists, it should be something that gets a second look before the new year arrives. At Estate Planning Law Center, this is the time of year when we hear a lot of questions, assumptions, and myths about estate planning. Some are understandable, many are common and a few can cause catastrophic problems if left unaddressed. So today, we’re tackling the five biggest misconceptions we hear around this time of year and what the truth really is. Misconception #1: “Estate planning is only for the wealthy.” This is the most common myth we hear, especially around the holidays, when people feel their finances are stretched thin or they’re comparing themselves
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The holidays in New Hartford are a special time—filled with snow-covered streets, warm family gatherings, and the search for the perfect gift. But what if the best gift wasn’t wrapped in shiny paper? At The Estate Planning Law Center, we believe that estate planning is the ultimate gift for your loved ones. It’s a way to protect their future, honor your legacy, and provide peace of mind that lasts long after the holiday season. Consider the story of Tom and Susan, a couple who came to us last December after a particularly challenging year. They had spent decades building their life together but realized they didn’t have a plan in place to protect it. By creating a comprehensive estate plan, Tom and Susan ensured their children wouldn’t face uncertainty or stress in the future. They also included provisions to support local charities they cared about, reflecting their values in their
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