Some people think that estate planning is complex and will cause family disputes while others simply do not want to think about asset distribution. Unfortunately, too many New York residents die without wills, a health proxy or power of attorney in place. The National Association of Estate Planners and Councils explains that it is important to have a living will and trusts in place not only to preserve assets but also to make estate administration and asset distribution easier on the family.
Some people say they want to be immortal. But even they may not want the immortality that lingers in cyberspace. Accounts on websites like Facebook, Twitter and YouTube may outlive the person who creates them. The ownership of digital assets has become an important topic in estate planning.