ILITs Unveiled: Estate Planning
Estate Planning

Why Is Everyone Talking About ILITs?

Why Is Everyone Talking About ILITs? In the evolving landscape of estate planning, Irrevocable Life Insurance Trusts (ILITs) have emerged as a buzz-worthy topic among

Read More »
About Elder Law in New York
elder law

About Elder Law in New York 2024

Elder Law in New York 2024: A Comprehensive Guide As the population ages, the importance of elder law—an area focusing on the legal needs of

Read More »
Will And Trust In New York
Wills and Trusts

Will And Trust In New York 2024

Wills and Trusts in New York: Your 2024 Comprehensive Guide As we approach 2024, the estate planning landscape in New York continues to evolve. Understanding

Read More »
Elder Law in NYC
elder law

Elder Law in NYC 2024

Elder Law in NYC 2024: Navigating Legal Challenges with Morgan Legal Group As 2024 approaches, navigating the complexities of elder law in New York City

Read More »
Probate in New York

Probate in New York 2024

Comprehensive Guide to Probate in New York 2024 As we step into 2024, the probate process in New York City continues to be a pivotal

Read More »
Estate Planning
Estate Planning

Estate Planning in New York 2024

Estate Planning in New York 2024: A Comprehensive Guide by Morgan Legal Group The landscape of estate planning in New York is ever-evolving, with 2024

Read More »
Article 81 Guardianship New York
Estate Planning

Article 81 Guardianship New York 2024

Article 81 Guardianship in New York Article 81 guardianship in New York plays a crucial role in safeguarding the interests of incapacitated individuals. As we

Read More »
Is trust better than inheritance?

Is trust better than inheritance?

Is Trust Better Than Inheritance in New York? When planning to transfer assets to future generations in New York, individuals often decide between establishing a

Read More »
Can I do my own probate?
Estate Planning

Can I do my probate?

Can I Handle Probate on My Own in New York? Probate is the legal process of validating a will and administering the estate of a

Read More »
An Overview Of Elder Law In 2024
Estate Planning Law

An Overview Of Elder Law In 2024

An Overview of Elder Law in New York 2024 Elder Law is a specialized legal field that addresses the unique needs and challenges faced by

Read More »
How do I organize my estate documents?
Estate Planning

How do I organize my estate documents?

Organizing Your Estate Documents in New York Organizing your estate documents is a crucial aspect of responsible financial planning and ensuring that your wishes are

Read More »

A wills, trusts, and estate attorney is an attorney that offers expert assistance in creating wills and trusts to address the disbursement of your estate when you pass away.

As everybody has different needs and situations, there is no one-size fits all approach to estate planning. However, it is fundamental to begin estate planning by creating a will and trust. This sets the pace for how your estate plan will look like.

Although you can draft a will yourself, it’s advisable to get expert guidance from a wills and trusts attorney NYC. They would know the laws that apply to your estate and how best to plan for you, especially when you have a complicated estate.

Furthermore, trusts are more complicated estate documents and typically require professional hands.

Reasons to hire a wills and trusts attorney NYC

A Wills and trusts attorney ensures your documents are state compliant

One typical reason why you should consult an estate attorney is because estate laws differ across states.

For example, in NYC, a non-resident of New York can’t be your executor or trustee. Your spouse or child also cannot serve as a witness to your will. These among other laws do not bind all states, so it becomes important you consult an attorney in NYC to ensure your wills and trusts are compliant to New York laws.

Requirements for writing a will in NYC

  • The will must be in writing.
  • You (the testator) must be 18 years or above.
  • You must be of a sound mind at he time of writing the will.
  • There must be at least two witnesses concurrently present who must each sign and attest to the presence of each other.
  • The will must also contain the written signature of the testator.

Complicated situations that require assistance from an attorney in drafting your will

As we have said, you may not always need an attorney to draft your will for you. But there are complicated situations that you may need professional assistance to address.

  • You have a child with special needs
  • You have minors (children below 18 cannot inherit under New York laws)
  • 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 complexly owned assets and are unsure how they will pass on your death.
  • Incapacity can happen at anytime, and we need to plan for your care and asset management
  • You wish to shield your assets from liens, nursing home costs, etc, while qualifying for Medicaid
  • You have property in multiple states
  • 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

Your Do-it-yourself wills and trusts may be inadequate

It is true that you can get New York estate documents online, print, and fill them out yourself. But there are problems with using these documents yourself:

  1. Documents you get online are stereotypical, typically handling only one estate.
  2. You would not have anyone to advise or you on what to do and explain things you don’t understand.
  3. You may make mistakes which may prove costly to amend.
  4. You may makes mistakes in your will no one would know about until you pass away. Then there would no longer be any chance to rectify things.

Updating your estate plan

Another reason why it’s best to hire a wills and trust attorney NYC is because estate planning is not a once-and-for-all affair. You would need to revisit these documents anytime your estate situation changes. For instance, you may acquire new assets, lose some, get divorced, lose a beneficiary, or get a new child or grandchild you would like to include as a beneficiary. It’s a great idea to keep a wills, trusts, and estate attorney close who can always make those updates without ruining the validity of the document, or its overall goal.

Furthermore, even people who think they have a simple estate may later find that they need support as their situation changes. Hence, it’s always beneficial to keep an attorney close who you can always rely on.

Contact our team of estate planning attorneys for your wills and trusts NYC

Our estate planning attorneys are highly experienced in creating wills and trusts for NYC residents. We would help you prepare your documents to ensure they are legally valid and protect your best interests. Call us to speak with a wills and trusts attorney near you in NYC.

Most Popular: