Estate Planning

Many elders become incapacitated late in their lives. Some people become unable to communicate due to physical conditions, maybe you’ve already been diagnosed with a disease like Alzheimer’s that makes such a situation likely. Seniors have to be proactive in using legal tools to achieve a secure future. The issues affecting seniors, however, are not exclusive to the elderly. Everyone faces risks of illness, injury, incapacity, or death and everyone should have a plan in place.

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Many families suffer financially – or lose their whole nest egg – when costs for an elderly or incapacitated loved one get out of hand. Seniors face many legal and financial issues which must be addressed to deal with the consequences of aging. However, there are ways to protect your assets from such circumstances.

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Many people assume that their family won’t have to go through probate when they die, especially if they have a will. Unfortunately, that assumption is incorrect for many NY residents. You don’t want your family to go through probate since it costs time, money and the publicity is embarrassing.

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Integrating your personal values into your estate plan is an important part of passing on your legacy. When you craft your legacy, you shape the way that you will be remembered after you are gone, and you share important links to the past so that they will not be lost.

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Whether you’ve accumulated a substantial nest egg or a more moderate amount of wealth, you want to preserve and protect it for your future and your loved ones.

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You might think your family will get along perfectly when you die, but it’s not as predictable as you might think. Incapacity and death can bring out the issues that have been bubbling below the surface for years. Learn more about the ways to minimize the likelihood that your family will end up in conflict.

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Whether your loved one had a will, a trust, or nothing in place when they died, there are practical and possibly legal details to be taken care of.

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The question of what will happen to your children without you or your partner will be answered one way or another. The amount of control you have over how that question is answered is entirely up to you. Without sufficient planning, your family’s future will be decided by the judicial system. Setting up an estate plan makes sense for any individual, no matter their financial or personal situation, but for families with young children, drafting an estate plan is absolutely essential.

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Families who have a family member with a disability must plan for the future very carefully. If you have a child or other loved one who is disabled and eligible for SSI and/or Medicaid, how assets are left after your death can have a tremendous impact on the quality of life for that person. To protect a person with special needs, a well-defined estate plan is vital.

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These days, many families include children, stepchildren, former spouses and in-laws. The number of remarriages has been steadily rising. If you’re one of the many families who brought children into your current relationship, there are special planning considerations. Make sure you don’t accidentally disinherit your own children!

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IF you are a pet owner without a pet plan, you are putting your animal at risk. Many beloved pets are euthanized after the death of their human because of money. Food is expensive, and vet bills can be a deterrent for those who would otherwise give your pets a loving home when you’re gone。The benefits and love your animal brings to your life are immeasurable, and you owe it to your companion animal to take the time to make sure your pet is protected.

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As more Americans become entrepreneurs, they discover that wise business planning is essential to their success today and their financial security tomorrow. Our law firm can help you achieve your goals, whether your business is a one-person operation or one striving for a place on the Fortune 500 list.

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