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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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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.

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