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Estate Planning

Estate Planning for Minors

Estate Planning for Minors in New York At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder law,

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Estate planning at different ages
Estate Planning

Estate planning at different ages

Estate Planning at Different Ages At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder law, wills, and

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Probate litigation
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Probate litigation

Probate Litigation: New York Probate Lawyer Dealing with the loss of a loved one is challenging enough without the added stress of handling their estate.

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Inheritance Dispute
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Inheritance Disputes

Inheritance Dispute Lawyer in New York Inheritance disputes can be highly complex and emotionally charged, particularly when family members are involved. If a loved one

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Will contest
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Will Contest

Will Contest Lawyer in New York Challenging the validity of a will can be a complex and emotional process. At Morgan Legal Group, located in

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Guardianship Proceedings
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Guardianship Proceedings

New York Guardianship Proceedings Guardianship proceedings are crucial in protecting the rights and assets of incapacitated individuals. In many cases, an incapacitated person may fall

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Accounting

Navigating Estate Litigation and Trust Administration in New York Estate and trust administration issues can be complex, especially when dealing with asset accounting and managing

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Estate Litigation Law
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Estate Litigation Law

Expert Estate Litigation in New York with Morgan Legal Group Estate litigation involves numerous challenges, particularly when you’re coping with the loss of a loved

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Trust Reformation
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Trust Reformation

New York Trust Reformation Lawyer Trust reformation is a complex process that involves modifying a trust to correct issues and ensure it aligns with the

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Spousal right of election lawyer New York
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Spousal Right of Election

Spousal Right of Election in New York Understanding the spousal right of election is crucial for protecting the inheritance rights of a surviving spouse. At

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Real Estate Partition Action
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Real Estate Partition Action

Real Estate Partition Action Real estate partition actions can be complex and emotionally charged, particularly when multiple parties own property and cannot agree on its

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Protection of Beneficiary Rights
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Protection of Beneficiary Rights

Protection of Beneficiary Rights Ensuring the rights of beneficiaries is a critical aspect of estate planning and administration. At Morgan Legal Group, located in New

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Fraudulent Transfer Attorney
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Fraudulent Transfers

Fraudulent Transfer Attorney in New York Cases involving fraudulent transfers and undue influence in estate law can be complex and emotionally charged. These situations often

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Contested Powers of Attorney
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Contested Powers of Attorney

Contested Powers of Attorney in New York A power of attorney (POA) is a crucial document that grants legal authority to another party (agent) to

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Estate Litigation
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Estate Litigation

Comprehensive Estate Litigation Services by Morgan Legal Group At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder

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Real Estate Litigation
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Real Estate Litigation

Comprehensive Real Estate Litigation Services by Morgan Legal Group At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship,

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Fireworks laws NY
Estate Planning

Fireworks Laws

Understanding Fireworks Laws in New York At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder law, wills,

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Family Law
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Family Law

Comprehensive Family Law Services at Morgan Legal Group At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder

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Divorce Practice
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Divorce

Understanding Divorce in New York Divorce is the legal dissolution of a marriage by a court. In New York, divorce can be complex, involving various

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What is Credit Life Insurance in New York 2024?
Estate Planning

What is credit life insurance?

What is Credit Life Insurance in New York 2024? At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship,

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Life Insurance and Probate
Estate Planning

Life insurance and probate

Life Insurance and Probate: Understanding the Connection At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder law,

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How to make good estate plans
Estate Planning

How to make good estate plans

How to Make Good Estate Plans in New York 2024 At Morgan Legal Group, located in New York City, we specialize in estate planning, probate,

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The Importance of Estate Planning in New York
Estate Planning

Importance of estate planning

The Importance of Estate Planning in New York At Morgan Legal Group, located in New York City, we specialize in estate planning, probate, guardianship, elder

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Although one can create a simple will on their own, it’s always better to seek professional help when dealing with a complex estates. There are laws binding the creation of wills and trusts in NY 10013 such that when these laws are violated, your documents can end up being discarded.

To ensure your estate plan is properly prepared in New York, it’s advisable to consult a Wills, Trusts, and Estates Attorney 10013.

Our attorneys will listen to your goals and help you strategically design your documents in a way that offers you the best benefits. For instance, if we see that you have a complex estate such as owning real property outside New York, we can help you retitle such property into your living trust. By so doing, we would be making the probate process less complicated than it would have been for your survivors.

Get help from our wills, trusts, and estates attorney by contacting our law office today.

5 Reasons why you need to hire a wills, trusts, and estates attorney 10013

1. Your attorney will help you plan towards Incapacity

By establishing a document known as power of attorney, an estate attorney NY 10013 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.

2. Help you make relevant considerations and plan accordingly

There are certain complex estate situations your wills, trusts and estates attorney can help you address. These include but are not limited to the following:

  • You have complexly owned assets and are unsure how they will pass.
  • 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 must be paid
  • 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 wish to shield your assets from liens, nursing home costs, etc, while qualifying for Medicaid
  • You have a large estate that’s subject to huge estate taxes
  • You have property in multiple states

3. Ensuring your will does exactly what you want it to do

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 New York 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.

4. Saving your survivors from the complications 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 New York. 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 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.

5. Saving you and your loved ones from huge estate 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 estate falls below this amount at the time of your death, your 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 attorney in NY 10013 can help you prevent this, ensuring your valuable money goes to those who deserve it most.

Wills and trusts attorney near me 10013

Contact our law office today to get in touch with a wills, trusts and estates attorney near you. Your first consultation is free.

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