Estate planning Attorney New York city
The estate planning attorney New York is a well-trained and experienced lawyer in New York, trained and dedicated in helping you plan for you future, protect your assets and guarantee your family’s security. This attorney helps design personalized estate plans that are tailored to your best interests, minimizing the burden of estate taxes and gifts, as well as protecting you from the financial threat of your creditors.
Are you a business owner, corporate executive, or an individual who has amassed estates in New York? Then you need to hire to hire an estate planning attorney New York to help you in:
- Designing an estate plan,
- Writing your will,
- Avoiding probate and estate taxes
- Protecting your assets,
- Preparing and signing a trust document,
- Estate administration,
- Medical assistance planning, etc.
An estate plan goes beyond just writing your will and stating who gets what when you die. Even if your wishes are clear-cut — such as “I want half my asset to go to my spouse, and the other half to charity” — ensuring that these wishes will be legally effective when you die can be more complicated than you can imagine. There are state laws which back these legal actions, and for this reason, your estate plan must conform to the laws of New York before it can be legally effective. Otherwise, i.e in the absence of a legally valid estate plan, the state will have total control of your estate administration when you die. Not that the state would claim possession of your estate, but they’ll become responsible for distributing your estate according to the state laws. Quite frankly, these laws might not benefit just who you want to benefit most from your estate. To avoid such scenarios, it’s highly recommended you seek the esteemed services of an estate planning attorney New York.
The estate planning attorney New York, being vast in the estate matters of New York city, will offer services in the following areas:
- Customizing your will
These days, the world has gone highly digital such that you’d even find already prepared will templates online with blank spaces which you’re to fill with the names of your beneficiaries. But most people’s lives, assets and families, don’t fit into these generic mass produced templates. If you need to change a particular portion of the will, you’re running a great risk which can render invalid not just that portion but the entire will. Assuming you do not know this then when you die, your will will be declared invalid during probate and your desires for your loved ones will become null. To avoid this, better have a qualified lawyer do it for you, such as the estate planning attorney New York
- Avoiding probate and estate taxes
There are several options which the attorney will tell you about if you desire to avoid probate and estate taxes. This includes use of gifts, death of beneficiary, joint property ownership, but the most widely used is Trust. Just like the will, there are templates available online which you can simply fill but if you make any errors, just like the will your Trust document will be rendered useless. Hence you need professional assistance from the estate planning Attorney.
- Determining what legal instruments best suits your situation
In most cases, writing a will is enough to settle your estate before you go. But in some particular cases several types of trusts may be required. The estate planning attorney will advise you on this issues. He can also help you prepare other legal documents such as health care, durable power of attorney and a living will.
- Knowing when to update your estate plan
The estate plan you made months ago may not be suited for today’s reality. There may have been a shift in your family, change of location or even a change in the value of your assets, which would require you to make changes in your estate plan.
- Keep up with the state laws.
The probate code of the state is constantly changing but you wouldn’t know. Only the practicing estate planning attorneys of New York will know about the latest changes, and would advise you if there’s need to change your estate plan as well.
For these services and so much more, kindly contact an estate planning attorney New York today.