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We have the knowledge and experience to resolve virtually any type of estate planning issue.
Our dedicated team of attorneys know the issues of wills, trusts, and probate issues specific to the laws of the State of New York. We provide the local expertise needed to maximize the assets transferred to your heirs.
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Attorneys in New York
Estate Planning Personified
Our office is conveniently located on Broadway, just a few blocks from the New York Stock Exchange.
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New York, NY, US 10004
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Sometimes a lifetime isn’t enough to care for the ones you love. This is why Estate Planning.
Key Elements of Estate Planning
Last Will & Testament
Commonly known as a will, this document records your last wishes about how your assets need to be handled after your passing. It lets you name the people you’d like to leave your possessions to.
Healthcare Power of Attorney
An HPOA documents your decision of naming a single person as the decision makes for your healthcare in the event when you are not able to make those for yourself.
Also called an Advanced Medical Directive, this document lays down your wishes about medical care should you at any point in life become terminally ill, or unable to communicate.
Financial Power of Attorney
This document names the one who you want to be responsible for your financial decisions. This person is to act on your behalf in the event you should become incapacitated.
Establishment of Trust
This legal entity needs to be established so that it can own your assets (while living or at the time of death). It is controlled as per your wishes as documented in a legal document which created the trust.
Why you Need a Experienced Estate Planning Attorney New York
Estate planning appears to be simple to a novice. But the truth is that most people who plan it themselves end up committing a number of mistakes.
There are more reasons than one why you will need to hire a seasoned estate planning attorney in Los Angeles to do the job for you.
They will enable you to:
What Makes Us Different
Frequently Asked Questions
Estate planning is the process that defines clearly how one’s estate (possessions) will be handled after the person has passed on. One’s estate includes everything they possess including property, movables, savings & investments, life insurance, personal possession, and, in fact, everything you possess.
This plan controls how your estate is given to the people or entities you want them to be given to.
A proper estate plan should cover:
- Distribution or property
- Tax planning
- Probate avoidance measures
- Healthcare planning
- Guardianship clauses for minors or special needs individuals
- Powers of attorney
- Charitable gifting
It is recommended to hire only an experienced estate planning attorney in Maryland to ensure that your plan is foolproof.
It’s a good idea to start estate planning as soon as possible, regardless of your age or current health status. Estate planning involves creating a plan for the management and distribution of your assets after you pass away, as well as planning for your own potential incapacity. Here are a few reasons why it’s important to start estate planning sooner rather than later:
- Unexpected events: No one knows when unexpected events can occur that may result in incapacity or death. Estate planning can help you be prepared for the unexpected by having a plan in place for your assets and care.
- Protect your assets: Estate planning can help protect your assets from being lost to creditors or other parties. It can also help minimize taxes that may be imposed on your estate.
- Protect your loved ones: Estate planning can help protect your loved ones from potential conflicts over your assets, and ensure that they are provided for according to your wishes.
- Peace of mind: Having an estate plan in place can give you peace of mind, knowing that you have taken steps to protect your loved ones and your assets.
In short, it’s never too early to start estate planning. The earlier you start, the more time you have to refine your plan and make any necessary changes as your life circumstances change.
While there is no clear answer to that, the truth is that if you are not a minor and possess anything in your name, you should ideally go for estate planning. A great start could be consulting an estate planning lawyer in Maryland and discussing if you need one yet.
We can help you figure it out. We’d be happy to consult you free of cost. Book your FREE consultation here.
In that case, ideally your estate will be distributed fairly among your “heirs at law” or your family as per the law of the state. You can save them this trouble of planning and executing later simply by investing now in a solid estate plan.
The estate tax rate for New York starts at 3.06% and goes up to 16%. New York is just one of a handful of states with estate taxes that are owed on top of Federal Taxes