FEATURES & NEWS

Elder Law in NYC
elder law

Elder Law in NYC 2024

Elder Law in NYC 2024: Navigating Legal Challenges with Morgan Legal Group As 2024 approaches, navigating the complexities of elder law in New York City

Read More »
Probate in New York
Probate

Probate in New York 2024

Comprehensive Guide to Probate in New York 2024 As we step into 2024, the probate process in New York City continues to be a pivotal

Read More »
Estate Planning
Estate Planning

Estate Planning in New York 2024

Estate Planning in New York 2024: A Comprehensive Guide by Morgan Legal Group The landscape of estate planning in New York is ever-evolving, with 2024

Read More »
Article 81 Guardianship New York
Estate Planning

Article 81 Guardianship New York 2024

Article 81 Guardianship in New York Article 81 guardianship in New York plays a crucial role in safeguarding the interests of incapacitated individuals. As we

Read More »
Is trust better than inheritance?
Trusts

Is trust better than inheritance?

Is Trust Better Than Inheritance in New York? When planning to transfer assets to future generations in New York, individuals often decide between establishing a

Read More »
Can I do my own probate?
Estate Planning

Can I do my probate?

Can I Handle Probate on My Own in New York? Probate is the legal process of validating a will and administering the estate of a

Read More »
An Overview Of Elder Law In 2024
Estate Planning Law

An Overview Of Elder Law In 2024

An Overview of Elder Law in New York 2024 Elder Law is a specialized legal field that addresses the unique needs and challenges faced by

Read More »
How do I organize my estate documents?
Estate Planning

How do I organize my estate documents?

Organizing Your Estate Documents in New York Organizing your estate documents is a crucial aspect of responsible financial planning and ensuring that your wishes are

Read More »
Who decides if probate is needed?
Estate Planning Law

Who decides if probate is needed?

Who Decides If Probate Is Needed in New York? The probate process plays a crucial role in estate administration, but not all estates require it.

Read More »
LGBTQ Divorce in New York
Family law

LGBTQ Divorce in New York 2024

LGBTQ Divorce in New York Divorce is a complex and emotional process for anyone, but for LGBTQ couples, it can come with its own set

Read More »
Elder Law in New York
elder law

Elder Law in New York 2024

Explore the latest updates and changes in Elder Law for 2024 in New York. As we enter 2024, it’s essential to stay informed about the

Read More »

There are so many issues that would likely cross your mind as you get older. You begin to think about all the assets you’ve toiled all your life to achieve, and how you would like them disposed when you pass away. You also think about the family and loved ones you would leave behind. How do you ensure you are able to provide for those who depend on you financially even when you are no more? How do you protect your estate to ensure only those who are deserving get a hold of it?

All these questions are addressed during estate planning. And the best way to secure your financial future and that of your loved ones is by doing estate planning now.

Our estate planning attorneys in Bronx are ready to help you

An estate planning attorney Bronx can help you harness the estate laws and provisions of Bronx to your advantage. Your attorney can help you establish estate planning documents that would represent your wishes when something happens to you, thereby giving you a say in your affairs even when you become incapacitated. An estate planning attorney in Bronx will know the local laws applicable and will ensure your estate plan is legally valid and compliant.

To get peace of mind for your future and that of your loved ones, contact us for a free consultation with an estate planning attorney Bronx, NY.

Things an estate planning attorney will do for you

Creation of a 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.

Your attorney will help you draft your will using the standard terms as recognized by Bronx law to avoid things going in a way you didn’t plan for when you die. They also help you determine what assets you should address in your will and those best left out.

Executing trusts

Trusts are very powerful, complex, but highly advantageous estate planning document. An estate planning attorney in Bronx will most likely advise you to establish a living trust because trusts avoid probate.

Probate is a legal process that takes place when you pass away before your assets can be inherited. Probate in New York is most often complicated, lengthy, and expensive, but unfortunately, all wills are subject to it. But by passing your assets in a trust rather than a will, those assets will pass outside probate.

Hence, by using a trust, your attorney can enable your beneficiaries inherit without stress.

Plan for incapacity

By establishing a document known as power of attorney, an estate planning attorney Bronx can help you appoint a competent agent to manage your affairs when you become unable to manage them yourself. The agent may make financial or healthcare decisions for you as you authorize in the document.

Offer you asset protection

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.

Avoid huge taxes

In NY, if the estimated value of your entire possession (your estate) exceeds $5.93 million at the time you die 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 Bronx can help you prevent this, ensuring your valuable money goes to your loved ones who deserve it.

Get help from an Estate Planning Attorney Bronx

You have peace of mind when you know you have a solid practicable plan for the future. And you get this peace when you work with a professional. Call us today to speak with an experienced estate planning attorney Bronx.

Most Popular: