Our estate planning attorneys are experts in estate laws and have assisted a plethora of clients around Brooklyn and all of New York create the right estate plans that cover all their needs and wishes. An estate planning attorney’s job is to take in into consideration the nature of the client’s estate as well as their goals, and then strategically apply the provisions of estate laws to serve the client’s best interest. This is what our team of estate planning lawyers is known for.
Our holistic approach to estate planning involves planning for the proper management of your estate during incapacity, creating documents for that and the effectual disposal of your assets at death, and how best to minimize liabilities. If you need an estate planning attorney near Central Brooklyn, then you are at the right place. Simply put a call through to our office to speak with one of our attorneys.
Reasons why you need to hire an estate planning attorney
As with so many activities in life, sometimes we feel there are aspects of it we can do ourselves. With a clear mindset of who you want your assets to go to when you die, you can draft a basic Will. But is that all there is to estate planning? The answer is “no.” So let us find out some top reasons for hiring an attorney.
1. Estate laws are broad and changing
By the fact that you have no training in legal matters, there are so many provisions available in NY estate laws that you may not be aware of. These provisions can help you minimize some challenges your family may face when you pass away. For example, you may have so many assets and think you can address all of them in your Will. Doing this may do more harm than good since probate would become even more traumatic than necessary for your loved ones. But an estate planning attorney by default has insight into these areas and would discuss with you how best to transfer your assets without making things more difficult for your family.
2. Customizing your Will
For some simple estates, a basic will may be sufficient. But in more complex cases, critical thought must be put into drafting your will. You may have downloaded a Will template online but remember that Wills are never one-size-fits-all. The wordings of a Will would have to vary with the nature of your estate and the assets you are addressing. In trying to alter a Will template, you may even end up ruining its validity. On the other hand, an experienced estate planning attorney will sit you down to discuss your estate goals and family situation. This may even bring to your mind things you haven’t considered before. If you have minors, then provisions such as guardianship should be included in the Will. Your attorney will tailor your Will to suit your unique situation.
3. Prepare for contingencies
A core aspect of estate planning is contingency planning. It is possible that in the future, you may fall into sudden incapacity. This may be due to an accident, a brain disease or terminal condition. Who would then be in charge of managing your affairs and making decisions for you? You want this person to be someone you trust to be of the same ideology as you and would make the same decisions you would have made had you been able to. Through estate planning, you can appoint such a person. To this end, your attorney would establish powers of attorney and an advance healthcare directive.
4. Tax planning
In New York, considerable amounts of money from your estate would have to be paid for state and/or federal estate tax if the estate surpasses a certain value. An estate planning attorney will notify you if your estate will face such liabilities and help plan towards reducing the amount below the threshold.
5. Updating your estate plan
Making an estate plan is not a once-and-for-all affair. As you live on, situations will change that would warrant consequent changes to your estate plan; a divorce, new marriage, birth, death of a loved one, acquired or lost properties — even estate laws change frequently. This is why it is advised to keep in touch with your attorney for them to periodically review your estate plan to know if it meets with your current situation and goals.
Get peace of mind by consulting an estate planning attorney near Central Brooklyn
So are you ready to create that estate plan that covers all your needs? Why not call us today? Get the peace of mind you seek by consulting a Central Brooklyn estate planning attorney from our law firm.