Estate Planning Lawyers in Manhasset NY, Helping Safeguard Your Assets and Plan for the Future
Regardless of how many assets you own, it’s important to make smart decisions about them. In some cases, this means protecting your savings from expensive healthcare costs. In other situations, this could mean designating certain heirs to receive an inheritance when you’re gone. For these and many other tasks, seeking the help of an estate planning lawyer in Manhasset, NY is likely in your best interest.
At Marchese & Maynard, LLP, our attorneys have served the citizens of Long Island and beyond for years. We know how daunting it may seem when you’re trying to create an estate plan, but our law firm has the experience necessary to help you through the process. Don’t let others make important decisions about your assets. Contact us today to schedule a free, no-obligation consultation to learn how we can assist.
Why Is Estate Planning Important?
Over two-thirds of Americans do not have an estate plan. When you hear this statistic, you may begin to wonder whether you even need one. After all, aren’t there laws in place that ensure your assets are properly distributed when you’re gone? This is only partially true. While there are laws dictating what happens to any assets you may have, there’s no guarantee that these laws will work in your best interest.
The law is strict and straightforward. There is very little room for nuance. For instance, your spouse will receive the lion’s share of your assets if you die without an estate plan — even if you were in the process of separating. Additionally, estate planning lawyers in Manhasset, NY handle more than just end-of-life issues. In fact, there are a variety or reasons why having an estate plan is so important:
Making Healthcare Decisions
There may come a time when you can’t make medical decisions on your own. This could happen due to a long-term disease or a sudden accident. Having a living will in your estate plan can help you specify important decisions in advance and designate a certain person to make other medical decisions.
Probate is handled through the Surrogate’s Court in New York, and most estates will go through this process. However, this doesn’t have to be a difficult endeavor. Through trusts, beneficiary designations, and other estate planning tasks, it’s possible to keep many of your assets out of probate.
When people turn 65 years old, their expenses come dangerously close to outpacing their income. When they turn 75, those expenses do outpace income and continue to do so. An estate planning lawyer in Manhasset, NY can help by utilizing trusts, Medicaid planning, and other asset protection mechanisms meant to safeguard your money from the growing cost of living.
What Are the Important Aspects of Estate Planning?
By now, it should be clear that an estate plan will involve many legal specialties. Not all of these areas will be relevant to your situation, but it’s important to recognize which ones are. This is one of the most important reasons to work with estate planning lawyers in Manhasset, NY. At Marchese & Maynard, LLP, our law firm can handle various legal tasks for you. These include:
- Estate Planning
- Elder Law
- Medicaid Planning
- Asset Protection
- Special Needs Trust
- Power of Attorney
These legal specialties show that estate planning is about more than just what happens after someone dies. While your plan should certainly include details regarding who receives your assets when you pass, it’s equally important to plan for healthcare needs, asset protection, and other elder law issues. Let the Manhasset, NY estate planning attorneys at Marchese & Maynard, LLP, assist.
Contact an Estate Planning Lawyer in Manhasset, NY Today
You’ve worked hard for everything you have. Unfortunately, healthcare costs could render a lifetime of devoted employment and smart fiscal decisions meaningless. And even if this doesn’t happen, failing to plan ahead could result in a judge deciding what happens to your assets when you’re gone. Having an estate plan is the only way to avoid these unfortunate outcomes.
At Marchese & Maynard, LLP, our dedicated team of legal professionals is committed to safeguarding your assets and ensuring you decide what happens to them. We know this process involves talking about some difficult subjects, but we’re here to assist you through the process. Contact us today by calling 516-447-2144. Our estate planning lawyers in Manhasset, NY are ready to help.