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Wills vs. Trusts in NYC: Choosing the Right Estate Plan for You
Estate Planning

Wills and Trusts NYC

Wills vs. Trusts in NYC: Choosing the Right Estate Plan for You Regarding estate planning in New York City, a fundamental decision arises: Will a

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Protecting yourself and your partner
Estate Planning

Protecting yourself and your partner

Protecting Yourself and Your Partner: A Comprehensive Guide to Estate Planning in New York At Morgan Legal Group, we understand the complexities involved in safeguarding

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The importance of a living will
Estate Planning

The importance of a Living Will

Why a Living Will Matters in NYC: Your 2025 Guide As we move further into 2025, advanced healthcare planning has become more critical than ever,

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Medicaid Trust NYC
Estate Planning

Medicaid Trust NYC

Medicaid Trusts in NYC: Safeguarding Your Assets from Long-Term Care Costs For residents of New York City, planning for long-term care is a critical component

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Probate Lawyer Cost
Probate

Probate Lawyer Cost

Understanding Probate Lawyer Costs in NYC: A Clear Guide When facing the daunting task of estate administration in New York City, one of the first

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Estate Planning in NYC
Estate Planning

Estate Planning in NYC

Estate Planning in NYC: A Comprehensive Guide For New York City residents, estate planning is not merely a suggestion but a necessity. Indeed, living in

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Living Trusts in NYC: Your Expert Guide
Estate Planning

Living Trusts in NYC

Living Trusts in NYC: Your Expert Guide For New York City residents, planning for the future and securing your legacy is critical. Estate planning, therefore,

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Digital Estate Planning in New York
Asset Protection

Digital Estate Planning NY

Securing Your Digital Legacy: Digital Estate Planning in New York In today’s increasingly digital world, our lives extend far beyond the physical realm. We conduct

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Medicaid Planning and Asset Protection
Asset Protection

Medicaid Planning and Asset Protection

Safeguarding Your Assets: A Comprehensive Guide to Medicaid Asset Protection Trusts in New York for 2025 Preparing for long-term care can be an overwhelming process

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Estate Planning Guide 2025
Estate Planning

Estate Planning Guide 2025

Estate Planning Guide 2025: A Comprehensive Resource for New York Residents As we approach 2025, the need for a solid and comprehensive estate plan becomes

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New York estate planning attorneys are professionals with years of experience handling estate matters in New York. Well vast in New York estate laws, estate planning lawyers offer their clients personalized services, tailored to meet the individual estate situation of each client. Having an estate plan is very important as all your assets have to be accounted for when you die and then passed on to your beneficiaries. To ensure that this process is smooth as can be, and to avoid creating confusions and conflicts among your surviving loved ones, it is highly crucial you put an estate plan in place to handle the estate distribution process, and doing this requires you creating estate planning documents such as a New York will or trust, or both. While each of these estate documents have their advantages as well as their downsides, an estate planning lawyer specialized in wills and trust NYC will help you combine these powerful documents in your estate plan in the best possible and most cost-effective way to handle every asset of yours.

Services which the New York estate planning attorney offers

The importance of having the professional services of an estate planning attorney can never be overemphasized. When you get old and weary, incapacitation may render you incapable of handling your own affairs yourself. Then you would need someone else, bound by legal agreement, to step up and handle your estate affairs on your behalf. That person has to be of your choosing, someone you trust, and you have to make such decisions now that you’re healthy. To do this, an estate planning lawyer will help you create a legal document such as a financial power of attorney, naming whoever you so choose as the person to handle your finances on your behalf.

If you have children who are minors, then there is need to plan for their financial well-being in the event of your death. Such minors would need someone of your choosing to look after their finances until they come of age, and you have to name such a person — known as a trustee — now that you’re alive. An experienced estate attorney in New York will help you create trust documents for your minors and even plan for disability.

Typical services which the NY estate planning lawyer offers include:

  • Preparation of estate planning documents such as wills, trusts, durable power of attorney, living will, advanced health care directive, etc.
  • Asset protection
  • Helping to avoid probate through the use of revocable and irrevocable trusts
  • Tax planning
  • Estate administration
  • Planning for charity
  • Business succession planning
  • Use of wealth transfer devices for easy transfer of assets, life insurance planning
  • Taking advantage of the gift tax exemption law and annual exclusion
  • Disability planning and heath care decisions.

Importance of having a Will

When you die leaving a valid Last Will behind, rest assured your wishes will be carried out just as you have stated. Everyone has those closest to him or her. Most commonly, these are the persons who you’d want to receive the largest portion of your estate when you pass away, but if you do not express these wishes in your estate plan, then whatever you desire would be null and void. In New York, when you die without a will, your spouse is automatically entitled to $50,000 of your estate or one-third of it as the case may be, while the rest goes to the children. If you left no kids, then your spouse receives the whole estate. The point is, this might not be exactly how you wish your estate to be disposed. To ensure your wishes are carried out and your assets distributed exactly according to your desires, do contact an estate planning lawyer NYC to help you create a valid last will in accordance of the New York state laws.

Hiring an Estate Planning Attorney near me 10027

It is in your best interest to hire an estate planning attorney that puts your interest foremost. Are you having complex assets that are difficult to value and probate, or dealing with estate tax audits? A competent estate planning attorney has experience in handling complex assets and can help you cut down on estate taxes.

Estate attorneys specialized in areas of probate may also be hired by the decedent’s family or executor to represent them in a Surrogate’s Court in matters such as will contest, settling family dispute over property disposal, and contested accountings. For help in any of these personal legal and estate matters aeound area code 10027, contact the New York estate planning attorney 10027 today.

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