Our estate planning lawyers Bronx, NY are committed to offering you impeccable estate planning services that serves your best interests. We take a holistic assessment of your estate, personal situation, and goals to determine what needs to be addressed and the best strategies to apply.
Our lawyers are experts in asset transfer, asset protection, incapacity planning, guardianship, long term care planning, probate administration, estate litigation, etc.
We are all about giving you peace of mind for your future and the loved ones you would leave behind.
Get expert help by speaking with one of our estate planning lawyers Bronx. Contact us.
Our estate planning services
Estate planning is a sum total of decisions, plans, and actions made towards the efficient transfer of a person’s assets during life or after death, management of their estate (financial and personal) during life, and minimizing cost, complications, and possible risks associated with the management and transfer of those assets.
And to cover all of that, we offer you the following services:
You most likely are already thinking about how you would want your hard-earned possessions transferred when you die. You possibly have a spouse and children with a list of assets. While you can rush and state who receives what, your lawyer is there to assess your assets and situation to know how best to distribute these assets.
For asset transfer, our estate planning lawyers can either use a will, trust, or both.
- Will: A will 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. It is easy and cheap to create but is not efficient for complex estates.
For example, if you own property in multiple states and you allocate them in your will, then probate will be conducted in each state for the property owned there. Probate in one state is problematic and expensive enough, talk more of having a multiple. To avoid such complexities, it’s best to use a trust.
- Living trust: In addition to transferring assets quickly, living trusts offer other benefits like probate avoidance. They are best for complex estates since the court, which makes things more complex, will no longer be involved in the asset transfer.
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.
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.
If you leave behind minors, these ones are not allowed to inherit by NY laws. To protect their interests, your lawyer will help establish guardianship in your will, whereby your appointed individual will manage assets for your minors until the come of age to inherit.
If you also have an elderly loved one who needs to be looked after because of their disability, we also represent you in guardianship application.
Long term care planning
Looking forward to staying or putting your elderly loved one in a nursing facility is a big step that requires empathy and planning. Our elder law attorneys are always ready to assist you, ensuring you get the right care from the facility without being taken advantage of.
Probate in Bronx, NY is often complicated, expensive and time-consuming. The personal representative is faced with overwhelming responsibilities, including managing the decedent’s estate, filing tax return forms and dealing with creditors of the estate, and distributing assets to beneficiaries. Our lawyers experienced in Bronx, NY probate can assist personal representatives and families to make the process proceed smoother and faster.
During probate, lawsuits may arise between heirs, creditors and the estate, or even the family and the personal representative. We offer legal representation to concerned parties to ensure justice prevail and the best interest of all parties involved are protected.
Estate planning lawyers near me Bronx, NY
To get in touch with an experienced estate planning lawyer in Bronx, contact our law office today.