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How long is a will valid after death?
Estate Planning

A valid will after death

Drafting a Will & Validation Meeting with an estate planning lawyer lasts is a tremendous promoting point because few human beings seem forward to it.

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How much does probate cost in NYC?
Estate Planning

How much does probate cost in NYC?

Estate Planning Lawyers & Probate Services Near Me Probate is a legal procedure that ensures a deceased person’s property is distributed according to their needs

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Types of Guardianship in NYS
Estate Planning

Types of Guardianship in NYC

Guardianship for a minor A minor might require a lawful gatekeeper when a parent bites the dust, leaves the nation, or ends up being too

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Wills Attorney Long Island
Estate Planning

Wills Long Island

Wills and how it Works A will is an estate planning document that allows a testator to designate the way in which their property will

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How To Find A Good Estate Planner
Estate Planning

How To Find A Good Estate Planner

Best Estate Planning Firms Are Here For You. Whenever you’ve tracked down a couple of potential outcomes don’t spare a moment to ask the domain

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immigration lawyer in NYC
immigration

Immigration lawyer in NYC

Immigration Lawyer NYC Near Me An immigration lawyer is a lawyer who specializes in the law of immigration. Immigration legal professionals are legal professionals who

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Retirement Planning
PRACTICES

Retirement Planning

All About Retirement Planning in New York Welcome to Morgan Legal Group P.C., your trusted resource for comprehensive information on Retirement Planning in the state

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So many persons may happen to have estates across countries with families and loved ones elsewhere or in some situations where some get married to a foreigner or invest in foreign countries and all these could make estate planning quite challenging. However, synchronizing your international estates will require legal experts with vast knowledge, understanding and wealth of experience in such issues as estate succession and tax laws in the relevant countries that will affect the effectiveness of a will in the event of death. Difficulties In Estate Planning For Expatriates And Multinational Families In spite of the different estate tax laws in different states in America, however, these differences are barely noticeable because they all are founded on the same foundation in legal matters. But the contrary is the case across nations or internationally. While the Americans use the common law, the Europeans and Africans use the civil law. The common law is a legal system developed by judges through decisions of courts and similar tribunals (also called case law), as distinguished from legislative statutes or regulations promulgated by the executive branch. Whereas civil law is Roman law based on the Corpus Juris Civilis; it is the body of law dealing with the private relations between members of a community; it contrasts with common law. It contrasts with criminal law, military law and ecclesiastical law as well. Common Law Offers Significant Planning Pliability As regards estate planning, common law allows or gives an individual (the trustor) the freedom to decide who and who to receive what and what, he or she has the liberty to decide how his or her properties or estates should be distributed when he or she dies. Hence, a will is very vital as it determines how the estate of the decendent is to be distributed via the probate process. However, a trust can help avoid the probate process and the taxation of the estate likewise. Also based on common law, the estate is normally taxed before it is transferred to the beneficiary or named heir. Meanwhile, in a situation where there's no will, the estate becomes intestate and it is distributed based on the state laws. Civil Law Operates Based On Succession This is similar to the intestate laws followed in common law in the absence of a will when an individual dies. This implies that even while alive an individual cannot determine how his or her estate should be distributed in the event of his or her death. So, a will is almost of no use in civil law unlike in common law. Again, taxation of the estate takes place during distribution unlike in common law where the estates are taxed before distribution. That is, the heirs or beneficiaries of the estate are being taxed in civil law. Meanwhile, a trust is of no relevance when civil law is in operation. Citizenship and Residency An expatriate should have a good understanding of the laws and requirements concerning citizenship and residency in any country he lives and in which he possess properties. The estate plans of an expatriate will not only be altered by relocating to a new place with different laws, but also how long he or she intends to stay in the new location is another contributing factor and likewise how much of his riches he invests in the new location. International Transfer of Tax Credits The transfer tax for an expatriate is determined by the following factors; 1. The type of assets 2. The location of the assets 3. The accessiblity of tax credits in significant areas where there is an overlap of levied taxes 4. The relevance of an estate tax agreement or protocol between the US and the country of residence Usful techniques for international tax estate planning includes; Wills, Trusts, Life insurance, Gifting, personal investment companies, college savings etc. Estate Planning In The Case Of A Non-citizen People live, work and own properties overseas and happen to marry from their country of residence or a foreigner altogether. Sadly, the difficulties in taxation faced by American expatriates also occurs in a situation where they marry foreigners. In spite of having a permanent resident in the US, spouse who are foreigners do not enjoy the unlimited marital deduction on gifts and inheritance transferred to them by their spouse. Although they enjoy the 2019 $11.4 million lifetime exclusion.
Estate Planning

Inheritance tax

Having a will and planning your estate is important. Here we are going to consider why. Before we delve into that, let’s look at what

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Trust Types
Estate Planning

Trust Types

Protect Your Assets With A Trust Revocable Trust A revocable trust can be changed or dropped whenever by the maker, the trustee. The grantor as

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Immigration lawyer NYC review
immigration

Immigration lawyer NYC review

Immigration Lawyer NYC An immigration lawyer is an expert who offers on the regulation that applies to migration between states. This can also encompass both

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immigration visa lawyer NYC
immigration

Immigration visa lawyer NYC

Immigration Lawyer Near Me The United States of America is beautiful, with many possibilities for humans from all cultural, religious, and ethnic backgrounds. For many

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Due to the nature of an estate plan, and how complicated it can be, you may need the help of an estate planning attorney when planning your estate. An estate planning attorney is an expert in the estate planning process. You stand to benefit a lot if you contact one when planning your estate. They are experienced, familiar with loopholes in the estate planning process, they know the court processes well, have important resources at their disposal, and can offer you the best advice when you need one.

Estate planning mistakes exist. Sometimes these mistakes alter the intent of the estate owner regarding his or her estate. The main purpose of an estate plan is to mirror the wishes or intentions of the estate owner; an estate plan that doesn’t do this has failed. To avoid unnecessary mistakes it is best you contact a professional.

Qualities of a good estate planning Attorney

When hiring an estate planning attorney, ensure you go for the best, one that can defend your interest and that of your estate beneficiaries after your demise. Below are some things you should look out for in an estate planning attorney in New York.

Must be able to create estate plan to suit your situation.

A good estate planning attorney should be able to help his or her client create an adequate estate document capable of meeting all of the client’s needs. There is no one size or fit estate plan. The estate document that works for client A might not necessarily cover the needs of client B. As such, an estate attorney should take into consideration the specific need of individuals before advising or proposing a particular estate document.

Must be competent

Not all attorneys can help in preparing an estate plan. Some attorneys specialize in handling divorce, personal injury and civil cases. If you want to plan a topnotch estate plan, you need to hire the best. Ensure that whomever you are hiring is an experienced estate planning attorney.

Should be able to carry out an extensive array of tasks

Estate planning involves panoply of topics, these topics range from trust administration to probate. A competent estate planning attorney should be able to plan an estate that avoids probate by creating trusts for loved ones. He or she must be able to help in reducing estate taxes, make plans for disability, and help in creating a will that mirrors your intentions for your estate.

Bottom line.

Estate planning mistakes exist. Sometimes these mistakes alter the intent of the estate owner regarding his or her estate. The main purpose of an estate plan is to mirror the wishes or intentions of the estate owner; an estate plan that doesn’t do this has failed. To avoid unnecessary mistakes it is best you contact a professional. Contact us, and we will provide you with the best New York estate planning attorney for your estate plan.

The nature of an estate plan, sometimes makes it complicated planning or creating estate document all by yourself, you may need the help of an estate planning attorney when planning your estate. An estate planning attorney is an expert in the estate planning process. You stand to benefit a lot if you contact one when planning your estate. They are experienced, familiar with loopholes in the estate planning process, they know the court processes well, have important resources at their disposal, and can offer you the best advice when you need one.

Contact an estate planning near you today.

When planning your estate, you may require the help of an expert. An estate planning attorney boast of the necessary skills, knowledge, and experience to walk you through the estate planning process. With the assistance of the attorney, you will plan an estate that conforms to your wishes and the laws of your state.  If you live in New York and you have finally decided to plan your estate but you need advice or assistance on how to get it done easily, you can contact us. We will provide you with the best estate planning attorney.

 Contact an estate lawyer near you, 11218, New York.

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