Are you looking to hire an estate planning attorney near you in Bronx? We are here to help. Our estate planning attorneys serving Bronx are highly knowledgeable in the estate laws of Bronx, NY. For the last decade, we have assisted a plethora of New York citizens with their estate plan, ensuring they get peace of mind for their financial future and that of their loved ones.
We know you want to have a solid plan towards the distribution of your assets when the inevitable happens. We will help you do that and more. Having garnered experience working with other clients in Bronx, our estate planning attorneys know the common estate issues people usually face in this location. Hence, we will do all it takes to avoid complications while enabling the efficient management, protection, and transfer of your assets.
Need to speak with a Bronx estate planning attorney near you now? Give us a call.
Why you need to hire an estate planning attorney near you Bronx
There are many reasons why hiring an estate planning attorney may be the best thing you do concerning your financial future. Even more importantly, it is beneficial to work with a local attorney near you.
1. You are in a complex estate situation
Drafting a will for asset transfer is one aspect of estate planning. You could do that yourself if you have a simple estate with a typical family. However, you would need a more comprehensive plan and hence the assistance of an estate planning attorney if you find your in any of the following situations:
- You are in a blended family and need assurance that your own kids from the previous marriage get a share in your inheritance when you pass away
- You have a child with special needs
- You have minors (children below 18 cannot inherit under New York laws)
- Incapacity can happen at anytime, and we need to plan for your care and asset management
- Your debts are heavy and would drain your estate significantly if they are to be paid
- You have a large estate that’s subject to huge estate taxes
- You wish to shield your assets from liens, nursing home costs, etc, while qualifying for Medicaid
- You have property in multiple states
- You have complexly owned assets and are unsure how they will pass on your death.
2. An estate planning attorney ensures your documents are legally valid
It is not enough to make a plan. Your documents must be compliant with state requirements to be valid so that your wishes can be honored. For instance, if your signature cannot be attested to by at least two witnesses, your will may be discarded when the time comes. There are seemingly trivial yet very important laws that apply to different locations, and it is our duty to ensure your documents are compliant with all estate laws applicable to Bronx.
3. Saving your loved ones the hassles of probate
Probate is a problematic legal process that takes place when someone dies leaving estate. It is typically lengthy, costly, and time-consuming in Bronx. But all of that depends on the nature of the estate passing through probate. The higher the value, the more complex probate tends to be. If that’s your case, you wouldn’t want your survivors to go through the stress before they can inherit your property.
Typically, all assets passed via a will will pass through probate. Depending on the complexity of your estate, a good estate planning attorney will suggest handling your valuable assets in a living trust so that those passing through probate will be minimized (if all can’t go through the trust). All assets passed in a trust avoid probate.
4. Help you save on tax
Across states, there is an amount known as estate tax exemption amount. In New York, this amount is $5.93 million as at 2021. If the estimated value of your your estate falls below this amount at the time of your death, you estate can pass to your inheritors tax-free. But if your estate exceeds that value, an amount known as estate tax must be paid to the state of New York.
However, through proper planning, an estate planning attorney in Bronx can help you prevent this, ensuring your valuable money goes to your loved ones who deserve it.
5. Ensures your documents align with state laws
State laws often change, and these laws determine the validity of your plan. It therefore requires someone deeply rooted in the estate laws of New York to ensure each document you prepare is always compliant with these ever-changing laws.
6. 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.
Hiring an estate planning attorney gives you peace of mind for the future. Get that peace of mind by talking with an expert lawyer near you.
Call us to get in touch with an estate planning attorney near Bronx.