As you get older, you need to set your house in order and lay down your wishes. Death can come at any time, and it is good to be prepared for it by declaring your wishes concerning what you want to be done about your assets. How should they be distributed, and who gets what? And how can cost be minimized? For the fact that you’re on this page, you’re ready to make that big step of estate planning.
We are here to offer you a personalized estate plan that works best for you.
A highly seasoned estate planning lawyer from our law firm will work with you, discussing your goals and estate situation, and come up with an estate plan that addresses all your issues.
We’ve helped countless clients all over Buffalo City, NY, to achieve proper estate planning that left their surviving loved ones happy and satisfied. Let us do the same for you. For your estate planning services in Buffalo, NY, kindly call us today.
Estate planning documents to include in your estate plan
- Will
Wills are a basic yet very powerful estate planning document. With a will, you can leave assets to whoever you wish to benefit from your estate. To draft an effective will, we consider all your assets, including those you own outside New York and those best left outside a will.
- Power of attorney
This document is used to authorize a trusted agent to make financial decisions on your behalf during incapacity. This agent, known as your attorney-in-fact, will step into your shoes to manage your estate, bound by law to always act in your best interest.
- Healthcare proxy
A healthcare proxy, just like the power of attorney, allows you to appoint an individual to make medical decisions on your behalf when you can no longer make them yourself. It is also known as medical power of attorney. It prevents your family from arguing about the kind of healthcare you would have wanted since you have authorized only one person to make decisions for you.
- Living will
On your living will, you write down instructions on what you want or do not want during a near-death condition. If you desire or do not desire resuscitation, life support, or organ donation, you can say so on your living will, and your instructions will be strictly adhered to.
- Living Trust
A living trust is a very powerful document by which you can avoid probate. Assets held therein will pass to your named beneficiary without any court involvement, and the transfer is immediate; no time wastage, no court expenses. We can combine a trust and a will depending on the nature of your estate for the best benefits.
Reasons why you should consider hiring an estate planning lawyer Buffalo
1. Customizing your will
Of course, technology has made almost everything available online. And so, DIY has become the norm. Wills are now downloadable online, and you can draft your will in the comfort of your room.
However, wills are not a one-size-fits-all thing. If your estate is a complex one, with property in multiple states, businesses, you’re in a blended family, or you have specific issues you want to address in your will, then you want to customize it to suit your goals. But doing so with inadequate knowledge may complicate or invalidate your estate plan, and it becomes essential you seek the professional assistance of an experienced estate planning attorney.
2. Estate planning laws are complex and changing
Only an estate planning lawyer in Buffalo will understand the estate laws thereof and draft your documents accordingly. If you’re not familiar with these laws, your document might end up invalid, and your wishes not be honored.
3. Planning for tax
Tax planning is another major area in which an estate planning lawyer will assist you. To ensure your estate’s full value goes to your loved ones and not the state, you want to have your estate planning done with an eye towards tax avoidance or minimization.
4. Probate avoidance
If you desire to avoid probate, then you would have to execute trusts and hold properties jointly. These things are complicated, and to get it right, it’s in your best interest to seek professional assistance from an estate planning lawyer.
Get started by calling us today
Estate planning is the only way to secure the future of your estate and loved ones. To ensure your wishes are honored and your loved ones get the financial support you desire for them, call us today to get started.
