Estate planning Buffalo
Estate planning is a legal process involving making plans towards the management of your estate during life, as well as the disbursement of same estate when you pass away. It also involves making plans to minimize the cost, taxes, and complications expected to arise in the management and distribution process.
As you get older in life, there is a great need to make decisions on how your properties will be disposed. Who will inherit your hard-earned possessions, and how do you ensure your estate is well-run in the event you become incapacitated? Through proper estate planning, you can make these decisions, protect your best interest, and ensure your wishes will be honored.
But to get the best of estate planning in Buffalo, it is recommended you seek the professional services of an estate planning lawyer near you.
Estate planning lawyers near me 14208 Buffalo, NY
Looking for an experienced and reliable estate planning lawyer in Buffalo? Our estate planning lawyers are just a call away. Contact us today to speak with one of our highly-skilled estate planning lawyers 14208, Buffalo, NY.
How we can help you
We offer a personalized approach to estate planning. As no two persons are the same, their wants are different, and consequently their estate plans. There are certain goals you have for your estate (possibly you want all your possessions to go to one person or charity), and the situation in your family or business may be quite complicated. It’s therefore our approach to engage you in detailed discussions to understand your needs so as to determine how best to assist you. We are happy knowing you have peace of mind, and this peace of mind comes with knowing that your best interests and those of your loved ones are protected even when you’re no longer around to provide for them.
Important documents we include in your estate plan
1. Last Will and Document
A will is a simple and the most popular estate planning document. On your will, you name your beneficiaries and what portions of your estate you want bequeathed to them. If you have minors, you can also name a guardian for them in your will. Although a will is often simple, you would require the services of an estate planning lawyer if you own complex assets, own property outside New York, or your family is complicated or estranged, etc.
The downside is that every will in New York must be probated before your beneficiaries can inherit, and probate is a lengthy legal process.
If you have a complex or valuable estate, we advise holding some part of it in a living trust. Assets held in a trust will pass immediately and directly to the beneficiaries outside of probate. When a considerable portion of your estate is held in trust, then that which will go through probate (via your will) becomes less, hence the cost and time taken will significantly be less.
If you wish to avoid probate altogether, we can as well hold your estate in entirety in a living trust. This offers so many benefits. Although somewhat complicated, it is very much practicable.
3. Power of attorney
The power of attorney is a powerful legal document by which you grant authority to an agent to manage your financial affairs on your behalf. Should you become incapacitated at any time, you would have someone making decisions and running your business for you. Their fiduciary obligation binds them to always act in your best interest.
4. Medical power of attorney
Your healthcare surrogate or Medical power of attorney enables you authorize an individual to make medical decisions on your behalf when you become unable to make them yourself.
5. Living will
Not to be confused with a last will, your living will is only effective until death. With it, you can lay down instructions for your end-of-life medical care. You can specify what you want done or not done when you fall into a delicate or critical condition. By so doing, you’d be ridding your loved ones of confusion and conflict of choice.
The time for estate planning is now. You have rest of mind when you know you there will be no confusion as to your needs when something happens to you. Your wishes will be known, and executed effectively, and you can continue to provide for your loved ones even when you’re no more. Let is help you achieve this.
If you live around Buffalo, NY 14208, call us today to speak with one of our estate planning lawyers near you.