A wills, trusts, and estate attorney is an attorney that offers expert assistance in creating wills and trusts to address the disbursement of your estate when you pass away.
As everybody has different needs and situations, there is no one-size fits all approach to estate planning. However, it is fundamental to begin estate planning by creating a will and trust. This sets the pace for how your estate plan will look like.
Although you can draft a will yourself, it’s advisable to get expert guidance from a wills and trusts attorney 10017. They would know the laws that apply to your estate and how best to plan for you, especially when you have a complicated estate.
Furthermore, trusts are more complicated estate documents and typically require professional hands.
Things a Wills, Trusts and Estates Attorney 10017 will help you do
1. Customizing your last will and testament
A last will and testament is a basic estate planning document on which you express your wishes concerning how you want your assets distributed when you are gone. You can decide to leave assets for anyone of your choice, including your spouse, parents, children, grandchildren, friends, charity, or even strangers. However, your will must be written in the right terms to say exactly what you mean. This is where an estate planning attorney comes in.
We typically help you draft your will using the standard terms as recognized by New York law to avoid things going in a way you didn’t plan for when you die. We also help you determine what assets you should address in your will and those best left out.
2. Executing trusts and probate avoidance
While every will is subject to probate, a complex and expensive court process that takes place after you pass away, trusts avoid this process. Your beneficiaries can therefore inherit quickly and cost-effectively if you use a living trust to bequeath assets to them.
Since trusts are complex estate planning instruments, it’s crucial you seek assistance from an estate planning lawyer near you. Notably, our estate lawyers will always assess your situation to determine what kind of trust to establish, as there re different types with each type having its distinct benefits.
3. Establishing Guardianship
If you leave behind minors, these ones are not allowed to inherit by NY laws. To protect their interests, your lawyer will help establish guardianship in your will, whereby your appointed individual will manage assets for your minors until the come of age to inherit.
If you also have an elderly loved one who needs to be looked after because of their disability, we also represent you in guardianship application.
4. Asset protection
If you have too many debts, chances are your loved ones would have almost nothing to inherit when you pass away. But we can help you 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.
5. Planning for digital assets
In today’s world, digitalization is taking center stage. Almost everyone now has at least one digital asset or the other, and it is important you address these in your estate plan to prevent valuables getting lost just like that.
Digital assets we can help you include in your estate plan includes but are not limited to:
- Cryptocurrency wallets
- Monetized social media channels
- Tokenized investments
- Important account passwords and emails, etc.
6. Estate litigation
During probate, lawsuits may arise between heirs, creditors and the estate, or even the family and the personal representative. We offer legal representation to concerned parties to ensure justice prevail and the best interest of all parties involved are protected.
How can I get a wills and trusts attorney near me 10017?
Are you looking to hire a wills and trust attorney in NYC, 10017? We are here for you.
Our attorneys have years of experience creating comprehensive wills and trusts for New York residents and are ready to give you all the help you need.
Give us a call today to get in touch with a highly knowledgeable wills and trust attorney near you.
