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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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To get the best of estate planning, it’s crucial you work with a proficient estate planning attorney that can understand your needs and employ estate planning strategies that protect your best interests. And that’s what we offer.

At our NY law firm, we have the best estate planning attorneys in Queens, lawyers having your best interest at heart and delivering impeccable estate planning services.

From asset transfer to tax planning and every thing between, we are committed to serving you better.

Get expert guidance from the best estate planning attorneys in Queens by contacting us today. We offer a free first, no obligation consultation. You tell us your estate situation and goals and we prepare a comprehensive estate plan that addresses all that affects you and your estate.

Give us a call.

Our Estate planning services Queens

Drafting a customized will for asset transfer

A last will and testament, simply called a will, is a basic estate planning document on which you express your wishes concerning how you want your assets distributed when you pass away.

While you can download will templates online, it is important you use only a New York will if you live in Queens. There are also several things to consider when drafting your will. It’s not all about allocating assets to beneficiaries. If you own property in multiple states, own a complex estate, are in a blended family, or look to avoid taxes, probate and possible complications, there are strategies an experienced estate planning attorney in Queens will employ to help you achieve your goals.

And there are local legal requirements for writing a valid will. If you are not familiar with these laws, it’s best to consult an estate planning attorney near you.

Minimizing probate and the issues that come with it

Probate is a problematic legal process that takes place when someone dies leaving estate. It is typically lengthy, costly, and time-consuming in Queens. But all of that depends on the nature of the estate passing through probate. The higher the value, the more complex probate tends to be. If that’s your case, you wouldn’t want your survivors to go through the stress before they can inherit your property.

Typically, all assets passed via a will will pass through probate. Depending on the complexity of your estate, a good estate planning attorney will suggest handling your valuable assets in a living trust so that those passing through probate will be minimized (if all can’t go through the trust). All assets passed in a trust avoid probate.

 

Probate administration

Probate in Queens, NY is often complicated, expensive and time-consuming. The personal representative is faced with overwhelming responsibilities, including managing the decedent’s estate, filing tax return forms and dealing with creditors of the estate, and distributing assets to beneficiaries. Our lawyers experienced in Queens, NY probate can assist personal representatives and families to make the process proceed smoother and faster.

Tax planning

In NY, if the estimated value of your entire estate exceeds $5.93 million at the time of your death in 2021, an amount known as estate tax must be paid to the state of New York. But through proper planning, an estate planning attorney Queens can help you prevent this, ensuring your valuable money goes to your loved ones who deserve it.

Incapacity planning

By establishing a document known as power of attorney, an estate planning attorney Queens can help you appoint a competent agent to manage your financial and/or medical affairs when you become unable to manage them yourself. Incapacity can strike at anytime, and it’s important you plan for it now that you are still competent so that your wishes can be honored when the time comes.

Asset protection

Asset protection involves legally shielding your wealth from entities which may have a claim against it, such as creditors, tax, nursing home, Medicaid eligibility, etc.

If you have too many debts, chances are your loved ones would have almost nothing to inherit when you pass away. But you can avoid that by holding your valuable assets in an irrevocable trust. Irrevocable trusts offer asset protection in that you, your creditors, tax, nursing home, and others who would normally have a claim to your property would no longer be able to reach it. Hence, your beneficiaries would receive the full value of your possession tax-free when you die. Also, even when you are involved in a lawsuit, your shielded assets cannot be used as settlement.

How do I find the best Estate planning attorney near me Queens?

Contact us to speak with one of the best estate planning attorneys serving Queens.

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