The best estate planning services Bronx

The best estate planning services Bronx

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Estate planning Bronx

What is estate planning, you may ask.

Estate planning is more than writing a will for the transfer of your assets when you pass away. Estate planning also has to do with the management of these assets when you’re yet alive but unable to manage your affairs yourself possibly due to a disability or incapacity.

Furthermore, proper estate planning must take into account the efficient ways to perform your affair management and asset transfer at minimal cost and risks. These are typical job descriptions of an estate planning lawyer.

However, an estate planning lawyer in Bronx will help you ensure your estate plan aligns with local estate laws, while harnessing these laws to your best benefits. And at our law firm, we give this priority.

Our estate planning lawyers in Bronx are mostly concerned about your best interests and will always come up with appropriate strategies to give you peace of mind for the future.

For the best estate planning services in Bronx, contact our law office to get in touch with our expert lawyers.

Top things an Estate Planning Lawyer in Bronx will do for you

1. Consider your estate situation to discover how best to help you

It is your estate planning lawyer’s duty as your legal professional to address every issue you may face that falls under the estate laws of Bronx.

We would typically consider the following:

  • 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 must 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.

2. Establish the required estate planning documents

After assessing all that pertains to you and your estate, we then draft out estate planning documents to address each issue. Our estate planning lawyers serving Bronx are known for their attention to detail, ensuring each line and instruction in your document is clear and works towards your estate goals. As the case may be, we will help you create a will, living trust, living will, durable power of attorney, healthcare surrogate, irrevocable trust, special needs trust, etc.

3. Ensure 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 in Bronx.

4. Plan for digital assets

In today’s world, digitalization is taking center stage. Almost everyone now has at least one digital asset or the other, and it is important you address these in your estate plan to prevent valuables getting lost just like that.

Digital assets we can help you include in your estate plan includes but are not limited to:

  • Cryptocurrency wallets
  • Monetized social media channels
  • Tokenized investments
  • Important account passwords and emails, etc.

5. Tax minimization

Minimizing cost is a crucial aspect of estate planning. Without proper planning, a huge part of your estate will go down as tax and other probate expenses. Our estate planning lawyers Bronx will also consider ways to help you and your survivors avoid huge tax burdens.

6. Updating your estate plan

Your documents will need to be checked from time to time if they align with your current situation and goals. For instance, 5 years ago, you may have named Joel as a beneficiary in your will. But it’s possible that Joel predeceases you, so you would need to remove their name. If not, it becomes confusing who their allocated inheritance will go to. You may also have new assets that you need to address in your estate plan. While being busy with your life, you may forget to d all these so it’s always best to have an estate planning lawyer working with you to ensure everything is as it should be.

Get help

Our estate planning lawyers Bronx are available to give you all the help you need. Give us a call.

DISCLAIMER: The information provided in this blog is for informational purposes only and should not be considered legal advice. The content of this blog may not reflect the most current legal developments. No attorney-client relationship is formed by reading this blog or contacting Morgan Legal Group.

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