Estate Planning


Estate Planning Lawyers in NYC, Helping Our Clients Plan for the Future of Their Assets

Whether you've got hundreds of different assets tucked away or little more than a car, home, and money in the bank — you have an estate to make decisions about. After all, we can't take anything with us when we leave this world. Deciding what happens to your assets after you're gone may sound like a simple process, but there are actually a variety of legal issues you must consider. Proper estate planning takes time and effort, and more importantly, it requires a solid knowledge of the legal nuances of New York law. Fortunately, you don't have to do this on your own. An estate planning lawyer in NYC can help.

At Marchese & Maynard, LLP , we've spent years helping people with the planning and administration of estates. The professionals in our law office spend considerable time in the Surrogate's Court, and they've handled some of the most complex estate issues you could imagine. This experience has provided the in-depth knowledge necessary to simplify the estate planning process while ensuring all your "ducks are in a row." You don't want courts deciding what happens to all your hard-earned property when you're gone, so reach out to our skilled team of attorneys today to schedule a free estate planning consultation.

What Is New York's Estate Planning Law?

There is no quick answer to this question. There are various laws and statutes that fall under the estate planning umbrella in New York. In fact, you probably encountered various legal specialties by simply searching estate planning attorneys in NYC on Google . You likely saw ads focusing on probate lawyer services, do-it-yourself-will writing, estate administration attorneys, and many other offerings to safeguard and distribute your assets. However, there are a few important things about New York estate planning lawyers that you should know. A skilled attorney can better assist you with these, but a basic understanding can also be helpful:

  • It's not always about death: Estate planning doesn't just include what happens after you die. What if you become incapacitated or otherwise unable to make financial decisions for yourself? Proper planning can help you let your wishes be known in advance.
  • Make healthcare decisions: An estate planning lawyer in NYC will let you know that making a plan doesn't just focus on finances and assets. You can also make important medical decisions for yourself in advance, so such difficult choices aren't left to loved ones.
  • Safeguarding assets: New York law also has options in place to protect your assets from a significant tax burden and other potential issues that could reduce your estate.
  • Choosing executors: One of the most important decisions you will make is choosing the executor of your estate. A will isn't enough to make things go smoothly. You should select someone you trust to administer your estate when you're gone.

Each of these requirements and nuances under New York estate planning law is important, but they're really just the tip of the iceberg. Even if you don't have many assets, it's important to have a proper estate plan in place. Fortunately, this could be a simple process with minimal work involved if you don't own much. More complex estates can require a large amount of work, and this will often continue years after a person passes on. Regardless of your unique situation, though, the legal team at Marchese & Maynard, LLP has the experience necessary to help you in this process. Contact us today for a free estate consultation.

What Do NYC Estate Planning Services Involve?

Any services you use for estate planning in New York will have specific goals and utilize certain processes. In many cases, these goals are the same. They include taking actions that will minimize taxes, simplify a potential probate proceeding, reduce the risk of estate plan documents being contested, and ensure that your assets go where you intend. However, many of these services focus on only one or two issues. For instance, there are countless do-it-yourself options for will writing online. However, most legal professionals warn against using such DIY sites. Additionally, you'll often end up spending more since there are many other estate planning documents that you'll need to consider.

That's why each NYC estate planning attorney at Marchese & Maynard, LLP has the experience to assist you with each of the following:

  • Estate planning
  • Probate
  • Wills
  • Trusts
  • Elder law
  • Medicaid planning
  • Asset protection
  • Special needs trust
  • Conservatorship
  • Power of Attorney

Unfortunately, we cannot speak to the effectiveness or legal knowledge of other estate plan services in New York. When you work with an estates lawyer at Marchese & Maynard, LLP, though, you're getting years of devoted experience. You'll also be able to have all your estate needs to be handled in one place. We'll work hard to ensure your wishes are met in a variety of situations, and we'll help create the necessary documents to simplify what your family members have to deal with when you're gone. Every estate planning attorney in our law firm is committed to helping you, so contact us today to learn more.

What Are the Important Estate Planning Documents?

Estate planning involves the creation of a variety of important legal documents. It is these documents that will dictate how your assets are divided and several other important decisions. Not all estate plans will involve the same paperwork. In many cases, it's the size of your estate or how you want it divided that will dictate which records need to be created. If you don't have experience in estate planning, you may be unsure of which documents you'll need. A skilled attorney can help in this process, but in most cases, the following are the most important for your estate:

  • Last will and testament (asset distribution)
  • Power of attorney (asset management)
  • Advance care directive (healthcare management)
  • Living trust (asset distribution while saving money)

These are the most important estate planning documents you'll need. However, there are many other steps to creating an appropriate estate plan. For instance, you should designate beneficiaries for things like your bank account, life insurance policy, pension, and retirement accounts. This is an easy way to simplify a potential probate proceeding during estate administration — because it will not be necessary to decide who those particular assets go to. It's also important to realize that there are various versions of some of these documents (e.g., irrevocable living trust vs. revocable living trust). This is just one of the many reasons an estate planning lawyer in NYC can be so beneficial during the process.

What if You Die Without a Will?

When a person dies without a valid will, they're considered intestate. This means that state law will dictate how their assets are distributed. An administrator will need to file for probate in the Surrogate's court of the county where the decedent lived. This administrator would have the same responsibilities that would've been handled by an executor if one had been designated in a will. From there, assets will be distributed according to New York law. This means that an estranged adult child who had no contact with the decedent would be entitled to more than a beloved sibling that provided long-term care for their loved one.

Some people think they don't need a will if they have one or more trusts with designated beneficiaries. However, this can also prove problematic. That's because the trusts themselves can be affected by intestacy laws. To put it simply, there's no situation where having a will isn't in your best personal interest and the best interests of your family members. Whether you have a few minor assets or own hundreds of properties and a business, an estate planning lawyer in NYC can prove vital. In addition to helping with the creation of an enforceable will, the law firm of Marchese & Maynard, LLP can assist in all your other estate needs as well.

Do You Need an Experienced Estate Planning Attorney?

With so many do-it-yourself options now available, you may wonder whether you really need an estate planning attorney in NYC. This is especially true if you have minimal assets and already have designated beneficiaries for your bank and other accounts. However, it's important to realize just how complex this area of law is. If every possible scenario isn't considered, your assets may end up being divided by a probate court. Additionally, your loved ones might end up losing properties due to unscrupulous creditors or other individuals acting in bad faith. It's important to consider every estate matter that may come up, and that's what an experienced attorney can help with.

Just envision a situation where a simple mistake in your will leaves your assets up for grabs. For instance, did you know that two people must witness you signing your will? Were you also aware that handwritten wills are typically invalid in New York? If you overlooked either of these legal provisions, the court might give your assets to someone who you didn't intend. Even worse, they may assign an estate administrator who you wouldn't have chosen yourself. Mistakes have serious and costly consequences when it comes to estates. That's why you should speak with NYC estate planning attorneys to handle these complex matters on your behalf.

Contact an Estate Planning Lawyer in NYC Today

If estate taxes, elder law, the probate process, and other areas of estate law seem complicated to you, you're not alone. This is an extremely complex legal area, but it has to be when the implications are this important. An estate plan will dictate what happens to everything you currently own once you're gone. And if you fail to create such a plan or make mistakes while doing so, it may not be you or your family members who make important decisions about your assets. With the right legal counsel on your side, your loved ones can avoid a lengthy probate proceeding, estate litigation, and other issues that might arise.

At Marchese & Maynard, LLP, we're committed to representing clients and ensuring their wishes are met after they're gone. We've seen far too many surviving loved ones face difficulties trying to administer their mother's or father's estate — or that of other family members — and this is often due to a lack of planning on the decedent's part. There's no need to leave your family struggling to handle your estate — or to let the courts decide what happens to your assets. Our estate planning lawyers in NYC will work diligently to create a proper plan that can help you rest easy. Contact us today by calling 516-869-1111 to schedule a free consultation. We're here to help.

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