Estate Planning Lawyers in Brooklyn
When you hire a probate attorney Brooklyn at our law firm to help with your estate planning needs, we can offer many services to you. For example, we can help you create a living will that states what kind of medical treatments or end-of-life care measures should be taken if you become incapacitated and unable to communicate your wishes on your own. We also offer wills that allow an individual to designate how his or her property should be distributed upon death among loved ones and other beneficiaries.
What is estate planning?
Estate planning Brooklyn includes wills, trusts, and other methods of transferring property when the owner dies. Brooklyn probate attorney at Brooklyn can help you draft your will to protect what matters most to you in case something happens unexpectedly. We all want our children or loved ones to be provided for after we die but it is difficult to think about how this should happen if those people are not yet born into the world. Brooklyn probate attorney experts will provide peace of mind by helping prepare an inheritance plan that preserves family wealth while respecting individual wishes.
Why it's important to have an estate plan
Estate lawyers in Brooklyn are needed for all people, at every stage of life. It is never too early or late to start planning your affairs. The earlier you do so the better prepared you will be and the less likely you'll need a court-appointed guardian if something should happen to you. Why? Because our profession has seen how difficult this process can be on families who don't make preparations themselves before they're incapacitated. If you've been wondering when to get started, now is as good a time as any! Many people know that having wills helps ensure their wishes about property division and inheritance go according to plan but many forget about these other documents which can be just as important.
What can you do with your estate plan?
What can you do with your estate attorney Brooklyn plan once it’s drafted and executed? There are many options available to adults who want to make a will, which is the document that outlines what they would like to have done with their property. You might be interested in having all or most of your assets go directly to one person while setting up some provisions for others (such as life insurance). This type of provision is called “beneficiary designation.” A beneficiary designation allows an adult who has appointed someone else as a beneficiary under his/her will or trust agreement; to designate the person or organization that will receive property from a policy, account, contract, pension plan, annuity, etc.
The different types of wills and trusts available
All of Brooklyn’s law firms specializing in estate planning offer a variety of wills and trusts, including living trusts, will trusts, charitable trust wills, irrevocable life insurance trust (ILIT), testamentary annuity trust (TAT) for the children and grandchildren. Lawyers can also provide you with strategies to protect your assets from creditors should a lawsuit arise against you. Brooklyn probate attorneys who are experts in this area know how these tools work together to ensure that as little money is spent on taxes as possible while protecting all your assets so they go where they're needed most after death.
Who should be involved in the process
The traditional approach to estate planning in Brooklyn is to involve two or more people, with one person acting as the "designated individual" who will take on this responsibility. This designated individual should be someone you trust implicitly and who shares your values.
One of those involved estate attorneys near me can be a professional fiduciary such as an executor, trustee, or personal representative; if not then another trusted party may serve in that capacity (such as a close friend). Other family members also need to know about your wishes for dealing with the property at death - what do you want them to do with it during their lifetime if you die before they are able-bodied adults? How much money have you set aside so far for retirement purposes? Whatever else needs attention.
Law Offices of Patel, Soltis, Cardenas, & Bost
26 Court St #2511, Brooklyn, NY 11242