Although none of us can predict what happens next, taking the time to create a comprehensive estate plan can ensure that you and your family will be protected.
Alatsas Law Firm will work with you to create an estate plan that fits your unique needs- explaining your options in jargon-free terms so you can make informed decisions.
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- Last Will and Testament
- Trusts
- Power of Attorney Documents
- Probate, Estate & Trust Administration
- Long-Term Care Planning
- Financial Power of Attorney
- Healthcare Power of Attorney
You need to have a will even if you don't have substantial assets
In the event of your death:
Your will names an executor for your estate.
If you have minor children living at home, it also names a guardian.
Estate Planning, Wills & Trusts
Estate Planning Handbook: What You Can Do to Protect Your Family and Your Legacy
Have questions about NY estate plans? Our free estate planning guide provides vital info on your options & how we can help protect your assets, family & legacy.
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Trust
A trust can be used for a number of purposes:
- Protect assets.
- Asset protection tools because the assets contained in the trust are no longer legally owned by you.
- This prevents them from being seized by creditors or subject to legal judgments.
- Minimize taxes.
- Trusts can be used to minimize taxes
- Prevent your assets from going through the probate process
- Protect your personal privacy
- Prevent mismanagement of assets.
- Have greater control over how your beneficiaries will spend the assets
- Avoid poor decisions based on age, mental health, addiction or a past history
- Provide for a loved one with special needs.
- Physical or mental disability-shelter their claim to valuable government benefits.
- Pay for expenses that will improve their quality of life
- Allow them to access necessary healthcare services
- Support charitable giving.
- Leave a lasting legacy for a cause that you support.
Please keep in mind that a trust is not a substitute for a will. A trust expands your estate planning options, but you will still need to create a Last Will and Testament.
To learn more about our probate-avoidance plans, click here.
How Estate Planning Protects Your Loved Ones
Estate planning is an absolute necessity for New Yorkers of any age, no matter your wealth level or current health status. Dying without an estate plan in place can leave your children and spouse in limbo—unsure of how to cover costs or what will remain within the family at a time when they are already in a state of grief.
You can start working with an experienced attorney today to craft a comprehensive estate plan that covers:
- Assigning guardianship for children
- Creating trusts for dispersing assets according to your wishes
- Drafting a will and naming an executor
- Ensuring heirlooms go where you want
- Granting power of attorney if you become incapacitated
- Making sure special needs dependents are cared for after you are gone
- Planning for health emergencies with advanced medical directives
- Preparing for long-term care through Medicaid
- Protecting your family by avoiding tax liability
Schedule a Consultation Today with our New York Estate Planning Attorney
Alatsas Law Firm is conveniently located for residents of Brooklyn, Queens, and Staten Island.
Life events such as a significant increase or decrease in income, marriage, divorce, the birth or adoption of a child and changes in tax laws can all affect your estate plan.
We know that dealing with legal issues affecting your family can be stressful, but we will proactively work to provide you with peace of mind as you move forward. If you’re in need of assistance with a divorce or family law concern, contact us today at 718-233-2903 to schedule a free, no-obligation initial consultation.