Our estate planning attorneys serving Long Island are experts in creating an estate plan that protects your best interests. Using the legal provisions under estate law of NY, we will establish your will, trusts, powers of attorney, and other strategies in a way that offers you the best benefits.
A estate planning attorney from our law firm always works with your best interests at heart. Contact us today to get help from an estate planning attorney near you in Long Island.
How your estate planning attorney Long Island will assist you
It is our approach to offer you a free consultation where you can tell us all your needs and goals. You can tell us about:
- Your family and estate situation
- How you would like your assets distributed amongst your loved ones when you pass on
- Who you would like to manage your financial affairs when you become unable to handle things yourself
- The kinds of property you own
- How your properties are owned
- And lots more.
From this information, we can then determine what strategies are required to be put in place that would cover all your needs.
And even most importantly, our estate planning attorneys have assisted several Long Island residents for years and know the common issues that apply to their estate. So we help you consider and plan for even those things that may not be obvious to you.
To get the best of estate planning in Long Island, contact our law office today.
Drafting your will
A last will and testament is a basic estate planning document on which you express your wishes concerning how you want your assets distributed when you are gone. You can decide to leave assets for anyone of your choice, including your spouse, parents, children, grandchildren, friends, charity, or even strangers. However, your will must be written in the right terms to say exactly what you mean. This is where an estate planning attorney comes in.
Your attorney will help you draft your will using the standard terms as recognized by Long Island law to avoid things going in a way you didn’t plan for when you die. They also help you determine what assets you should address in your will and those best left out.
Incapacity planning
By establishing a document known as power of attorney, an estate planning attorney Long Island can help you appoint a competent agent to manage your affairs when you become unable to manage them yourself. The agent may make financial or healthcare decisions for you as you authorize in the document.
Living trust and probate minimization
While every will is subject to probate, a complex and expensive court process that takes place after you pass away, a living trust avoids this process. Your beneficiaries can therefore inherit quickly and cost-effectively if you use a living trust to bequeath assets to them.
Since living trusts are complex estate planning instruments, it’s crucial you seek assistance from an estate planning attorney near you.
Tax savings
In NY, if the estimated value of your entire possession (your estate) exceeds $5.93 million at the time of your death, an amount known as estate tax must be paid to the state of New York. But through proper planning, an estate planning attorney Long Island can help you prevent this, ensuring your valuable money goes to your loved ones who deserve it.
Guardianship
If you leave behind minors, these ones are not allowed to inherit by NY laws. To protect their interests, your lawyer will help establish guardianship in your will, whereby your appointed individual will manage assets for your minors until they come of age to inherit.
If you also have an elderly loved one who needs to be looked after because of their disability, we also represent you in guardianship application.
Planning for digital assets
In today’s world, digitalization is taking center stage. Almost everyone now has at least one digital asset or the other, and it is important you address these in your estate plan to prevent valuables getting lost just like that.
Digital assets we can help you include in your estate plan includes but are not limited to:
- Monetized social media channels
- Cryptocurrency wallets
- Important account passwords and emails, etc.
- Tokenized investments
Get help
Looking forward to the future is easier when you have a solid plan in place. Ensure you get it right by seeking assistance from an estate plan attorney Long Island. Call us.