Estate Planning Attorney near me 10280

Estate Planning Attorney near me 10280

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As a result of estate planning, many people are made to think about things that may occur during life and after death, things which normally are never pleasing to think about. However, not thinking about such things at all doesn’t mean they won’t happen and so, it is better to be forearmed. It is therefore expedient to ensure that assets are carefully managed and that these assets pass down to heirs in the easiest, smoothest and most cost-effective way possible, and this is the job of the estate planning attorney. 

The estate planning attorney New York is a professional attorney specially trained in estate law, and providing legal services to client all over New York in matters of estate planning and estate litigation, creating revocable and irrevocable trusts, providing assistance during probate, updating up wills and transferring assets into trusts, asset protection and tax planning. 

A Last Will and Testament is the most fundamental estate planning document and can be drafted solely by the testator or with the help of an attorney. However, for more complex estates, a basic Will may not suffice to handle all your assets and so consulting an estate planning lawyer near you becomes mandatory. The estate planning attorney 10280 assists clients within 10280 and throughout NYC, and is only a click away. Put a phone call through today. 

Things the estate planning lawyer can do for you

1. Customize your will to suit your particular estate

Will templates can be obtained online but you should know estate planning is never a one-size-fits-all affair. Your estate might not fit into a general template made for the most basic asset disposal. When you try to adjust a will template to fit your particular estate goals and needs, you may eventually end up ruining the will. There are laws backing the validity of Wills and when these laws are broken, your will becomes invalid. On the other hand, an estate lawyer in aware of this, and knows just how to create a will tailor-made for you without violating estate laws.

2. Minimizing estate taxes

With the use of gifts, joint property ownership, trusts and estate tax exemption laws, the estate planning attorney can help you minimize or avoid taxes imposed on your property.

3. Helping you update your estate plan

An estate plan should not just be created and left on the shelf till death comes knocking. As long as you live, situations and events may occur which warrants certain changes to your estate plan. You create an estate plan today and name your wife and kid as your beneficiaries. Two years later, you enter into another marriage l, have a new kid and new real properties. This warrants you to update the beneficiaries you’ve named in your estate plan. When you have an estate planning attorney working with you for long-term, he’ll know just the right time to update your estate plan.

4. Avoiding probate

The estate planning attorney can help you avoid probate through the use of trusts. Trusts are quite delicate and you shouldn’t try dabbling into them without prior knowledge. It is better you let the estate law professional do it for you.

5. Knowing the right estate planning tools to employ

For simple estates having simple assets, a simple will may suffice. But estate planning involves other things like Guardianship, incapacity planning, tax planning and others, things which need other legal instruments other than a will. The estate planning lawyer will help you create those documents that address these issues.

6. Keeping abreast with state laws

State laws are ever changing, and these laws affect your estate plan. For example, in 2018, the New York estate tax exemption for an individual was $5.25 million. Currently in 2020, the estate tax exemption has increased to $5.85 million. This and other factors may require some changes to your estate plan as well, and by reason of the estate lawyer being a law practitioner in New York, he is always up-to-date with the dynamics of NY laws and would inform you when necessary.

Contact the Estate Planning Attorney Near You 10280

Dabbling into estate planning matters with inadequate knowledge in legal and fiscal matters can be quite detrimental to you and your family on the long run. If you live in New York area 10280, then the estate planning attorney is literally within arm’s reach. Put a call through today.

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DISCLAIMER: The information provided in this blog is for informational purposes only and should not be considered legal advice. The content of this blog may not reflect the most current legal developments. No attorney-client relationship is formed by reading this blog or contacting Morgan Legal Group.

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