There is no such thing as litigation without a proper proceeding. To avoid any such long processes and probate over your estate, you need to make proper plans on your estate. Estate planning New York lawyer are experienced lawyers, whom through the years have guided and assisted New York residents with their estate plans. Estate planning is a process of making many important decisions and plans over your future and that of your loved ones. It concerns what happen to your assets both while you are alive or dead, how you want to share your assets to family, children or spouse, who takes over making certain important decisions for you in cases of mental incapability and lastly transfer of ownership of a property.
These plans can only be presented, documented and implemented in wills and testament, living trust, revocable or irrevocable trust, advance medical directives and lastly financial power of attorney also known as durable power of attorney.
There are several reasons while you need an estate planning New York Lawyer. One important reason is that New York Lawyers are conversant with state laws over what should be added to an estate document. New York State laws regulated the whole process of estate planning right from the documentation, to its implementation, summarily, the whole formalities of estate plans. One wrong inclusion could lead to probate, loss of properties, investment and even retirement benefits.
Furthermore, estate planning New York lawyers can help solve complex financial or family issues. Consider the following; you own and manage one or more businesses, you have minor children or you don’t have any children, you have a disabled family member, or you have one or more health issues, you are married, divorced or in a second marriage, you have one or more estate in different states, you have a taxable estate, etc. these situations requires legal backings and proceeding so a prevent loss of proper.
Preparing now for the future over your financial and medical affairs would save you and your loved ones a whole deal of stress and troubles. No matter the financial or medical situation you are in today, contact an estate planning New York lawyer to help you solve one of your most important task in life, which is planning for the future, yours and that of your family.
Estate planning documents
There are several types of estate planning document; namely, Last Will and testament, Living trust, durable power of attorney and advance medical directives. Each type of estate documents has its unique importance basically in protecting your assets and ensuring your family gets their expected benefit.
Living Trust – one of the major benefit of documenting a living trust on your estate plan is elimination of probate process when distributing assets. . Through trust, you can have anyone whom you solely desire manage and make financial decisions over your assets both while you are alive or dead as well as when you become mentally incapacitated.
Last Will and testament
Advance medical directive
Advance medical directive: It is a legal document that expresses a person’s health care preferences for events where you are unable to make such decisions
Durable power of attorney
Durable power of attorney – grants a person of your choice power to make key financial decisions for you when you are unable to do so.
An estate planning New York Lawyer can help with the following estate plans:
- Preparing a Living Trust to avoid the probate process along with its hassles.
- Advising you on the best type of Trust to establish, such as an Irrevocable Trust
- Preparing a valid Will according to the state laws.
- Helping to reduce or rule out estate taxes.
- Preparing a valid legal power of attorney.
- Ensuring that your property is protected from the ravaging clutches of your beneficiaries’ creditors.
- Distributing your estate to your beneficiaries in the manner you so wish.
- Help prevent guardianship for minors and those incapacitated.
- Drawing out the best and most suitable retirement plan.
- The estate planning New York lawyer will also help in putting your brokerage accounts, debt, personal properties, business and partnership interests, as well as insurance policies into business entities or Trusts.
- Establish a healthcare plan that suits your needs as well as help you file an advance medical directive. Through this, you can designate a health care agent or a trustee to make medical decisions for you when you become mentally incapable.
- Help you know when best to update your estate plan. (Your estate plan can always be adjusted so far you’re still alive.
Contact an estate planning New York Lawyer today.