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What is Elder Law in New York 2024?
elder law

WHAT IS ELDER LAW?

Understanding Elder Law in New York 2024 As individuals age, their legal needs evolve, requiring specialized expertise in areas affecting their health, assets, and legacy.

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All About Trusts and Wills in New York
Estate Planning

All About Trusts and Wills in New York

Understanding Trusts and Wills in New York: Essential Tools for Estate Planning Planning for the future requires careful attention to detail, especially when it involves

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Attorney for Wills and Trusts
Estate Planning

Attorney for Wills and Trusts

Discover expert guidance for Wills and Trusts in New York. Morgan Legal Group provides personalized estate planning for peace of mind.

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Different Types of Wills in New York
Estate Planning

Different Types of Wills in New York

Understanding Different Types of Wills in New York Wills are critical estate planning documents that allow individuals to express how they want their assets distributed

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Common Probate Issues In New York
Estate Planning

Common Probate Issues In New York

Common Probate Issues Probate is a legal process that occurs after an individual passes away, involving the distribution of their assets according to their will,

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Estate Planning Tips in New York - Morgan Legal Group
Estate Planning

Estate Planning Tips:

Estate Planning Tips in New York Estate planning is a vital process for ensuring that your assets are protected, your healthcare decisions are respected, and

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Guardianship Attorney in NYC
Guardianship

Guardianship Attorney

Guardianship Attorney in NYC In New York City, the need for guardianship arises when an individual can no longer make decisions for themselves due to

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As you get older in life, several questions begin to pop on in your mind: “How should I distribute my possessions amongst my loved ones? How sure am I that each person is going to get just what I want for them? Can I still give to charity when I die? What about taxes? Will a part of my estate go to the state? If I fall terminally ill now, who will look after my estate and make necessary decisions for me?”

All these and so many more are the kind of questions that may already be running through your mind. This quite possibly may be the reason you are in search of an estate planning attorney near you. The good news is, that is the best step you can take right now.

We are here to help

At our law firm, our estate planning attorneys are proficient and have assisted several clients all over New York in creating the best fit estate plan for their particular situations. When you come to us, we take a good look into your heart through personal discussions, identifying your wishes and concerns. This we do with the hope of creating a personalized estate plan that covers all your concerns and offers you the best benefits. Be you a young entrepreneur wishing to secure your life’s work, a man or woman going into a new marriage with kids from the previous, or an elderly looking forward to long-term care and eventual death, we would help you meet your needs.

If you live around Brooklyn, 11220, kindly place a call to our office to get in touch with a lawyer.

Essential documents for estate planning

In your estate plan, the following documents are necessary to give you a well-rounded coverage.

1.      Will

A will is an asset transfer document. With it, you can leave assets for a relative, friend, charity and even a stranger. It gives you freedom to choose beneficiaries as best fit for you. It is our duty to guide you in putting down your wishes to ensure that they are executable when you pass away. Some people who opt for do-it-yourself often put their survivors into jams because there was a discrepancy, omission or ambiguity in their will.

If you have minors, then we can advise naming a guardian in your will. This is because minors are not allowed to inherit until they turn 18. The guardian would manage the assets you leave for them until they can inherit.

2.      Living Trust

This document is mostly preferred over a will because of its characteristic probate avoidance. Assets held in a trust will not pass through probate — a rather complicated, expensive and time-consuming legal process carried out after you die before your assets can be distributed. A trust quickens asset bequeathal and reduces cost in the long run. As it is more complex than a will, get an attorney to execute your trust for you. By naming a successor trustee in your living trust, you would have someone to represent you during incapacity, as well as manage funds for your minors when you die before they come of age.

3.      Powers of attorney

These documents are effective for incapacity planning. We would help you create a durable financial power of attorney to appoint someone to make financial decisions for you during incapacity.

4.      Advance healthcare directives

This document, also known as healthcare proxy/surrogate, enables you name a surrogate to manage your healthcare during incapacity. Your surrogate will be in charge of speaking with your doctor and making healthcare decisions for you since you can no longer make them yourself These documents prevents the need for guardianship, therefore saving cost and preventing the court from deciding for you.

Ensuring your documents are compliant with state laws

There are state laws that determine how each document is to be created. For example, the requirements for a valid will in New York are as follows:

  • The testator must be 18 years or more;
  • Having a sound mind at the time of signing the will;
  • With at least two witnesses who must verify their presence by each signing on the will in the presence of each other.

Also, your personal representative or fiduciary must be a domiciliary or non-domiciliary resident of New York before they can represent you. Flouting any of these statutes may render your document invalid and throw your family into trauma amidst the grief of losing you.

It is our duty as your attorney to ensure your documents are legally established.

Get help

There is peace of mind when you know your wishes will be known and honored when you die or become incapacitated. Get help from an estate planning attorney near you by calling us today.

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