Our estate planning attorneys are here to offer you the services you need. From preparation of your wills and trusts to asset protection and estate tax minimization, we’ve got you covered.
Our estate planning attorneys 14218 have years of experience serving clients throughout New York, and we are just a phone call away from helping you. Simply call us to get a proper, personalized, and comprehensive estate planning in New York 14218.
Estate planning attorneys 14218 — services we render
Creation of estate planning documents
By discussing your situation and goals with you, we determine the right documents to create for you. Basic estate planning documents you should have include:
- A will: by which you declare your wishes concerning the transfer of your assets when you pass away. We ensure the right terms are used in your will and that it complies with New York laws.
- A living trust: if your estate is complex or highly valuable, we may recommend executing a trust. A living trust is also used for transferring assets, but it doesn’t have to go through the probate process as wills do. Probate is complex, lengthy, and expensive for complex and valuable estates, and you wouldn’t want that.
- Power of Attorney: We recommend including a power of attorney to help you plan for incapacity. This document allows you to name a competent and trusted person who will help you manage your financial affairs when you become incapacitated in the future (most likely during old age)
- Medical power of attorney: Also known as a healthcare surrogate, this document enables you authorize someone to make healthcare decisions for you during incapacity.
- Living will: Here, you get the chance to lay out your healthcare preferences for end-of-life situations.
Asset protection
Asset protection is the act of shielding your assets from estate tax and creditor claims. Typically, your estate will be subjected to New York estate tax if the estate exceeds $5.85 million at your death. The amount can reach up to 16% of your estate and must be paid before your loved ones can inherit.
Also, your creditors would come after your beneficiaries for what you owe them. To avoid making your beneficiaries give up a huge part of what they should be getting, we can help you carry out asset protection. We can do this by setting up an irrevocable trust, etc.
Guardianship
If you have minors and wish to leave assets specifically for them, we advise naming a guardian for them in case you pass away before they reach 18. This guardian will manage and use the assets for your minors’ benefit until they come of age to inherit.
In the event you become incapacitated in the future and you have no trust or power of attorney, then you would need a guardian yourself. Guardianship application is a legal and often tedious process, but we can work with you and your family to ease things up.
Probate
Our estate planning attorneys 14218 are also proficient in probate administration. If you’ve recently found out you’re the executor of your deceased loved one’s will, we can guide you through your administrative duties. We ensure you carry out your roles efficiently and disburse the estate as quickly as possible.
The best time for estate planning is now
No one knows when the inevitable will happen, so the best time to plan is now. If you die without having an estate plan, your estate will be declared intestate. Your wishes will not be known, and the probate court will make decisions for you instead.
New York Intestacy
By New York intestacy, the probate court gives the first $50,000 and half of the remaining estate to your spouse, and the other half to your children.
If this is not how you’d like your estate shared when you pass away, then you have to plan now.
Let our estate planning attorneys 14218 help you. Call us to get started.
Estate planning attorneys near me 14218
Are you in need of estate planning services near you 14218 NY? Our New York estate planning attorneys are here to help you. Contact us to get in touch with our estate planning attorneys 14218.
