Estate plans & estate planning is the process of legally structuring the future disposition of current and projected assets during life and in death.
It’s important to have a basic estate plan in place regardless of your net worth. Although it may seem like a morbid chore, estate planning offers several benefits:
- You get to name the people to whom you wish to give your assets.
- Your wishes will be legally binding.
- Your heirs will not have to pay estate tax, with proper estate planning with an estate planning attorney.
- Protect your assets from Medicaid
An estate plan can include several elements:
A Will, in a Will your basic directives of who will get your assets are put into writing.
Assignment of power of attorney, which gives the person you name the authority to manage your financial affairs if you are unable to do so.
A health care proxy, which authorizes someone you trust to make medical decisions on your behalf.
For some people, a trust may make more sense. A living trust will avoid the costs of probate; if properly funded.
Trust vs Wills * Removal of a Trustee * Guardianship * Probate * Beneficiary Rights
Medicaid Asset Protection * Probate Litigation * Estate Litigation * Living Trusts
In Home Care * Supplemental Needs Trusts * Fraudulent Transfers
Make an appointment with one of the elder law estate planning attorneys at the law offices of Rubinstein, Zeh and Associates today to discuss your options. If you or your loved ones have liquid assets or you own your own home your heirs are at risk of losing a significant part of your assets upon you getting sick or upon your untimely death. It is more important than ever to prepare an estate plan if you have stocks, bonds, money market accounts, savings accounts, CD’s annuities or an IRA. An IRA can be protected with an IRA Standalone Retirement Trust. An IRA Standalone Retirement Trust must be drafted carefully in order to ensure that the trust qualifies as a “Designated Beneficiary.” This guarantees that the trust will be able to take out the minimum required distributions according to the beneficiary’s life expectancy, not the plan participant’s. If the trust is not set up properly, the entire inherited IRA will need to be withdrawn within five years of the plan participant’s death. Work with a reputable planner to make sure your trust is structured correctly and that your beneficiary, and not his or her creditor will receive the funds you pass down. The attorneys at Rubinstein, Zeh and Associates are not only trained in handling simple elder law planning, estate planning, will and probate matters, we take care of complex estate planning, elder law and living trust estate litigation in Nassau County, Suffolk County, Queens County, Bronx, Westchester, Richmond County, Manhattan and Brooklyn Kings County New York.
We are dedicated to your success so contact us. Speak with one of our knowledgeable Long Island will and elder law, estate planning, living trust estate litigation attorneys today from wherever you are in New York state in Nassau, Suffolk, Brooklyn, Kings and Queens Counties, on Long Island and all New York City boroughs including Bronx, Westchester, Richmond County, and Manhattan.
Call 1-800-960-1529 today.
Get Help With Your Estate Plan Now be prepared for your loved ones with the proper estate plan.
You should know that you have certain legal rights and must be very selective of the Lawyer or Law Firm that you chose to represent you. Have an Attorney council you on the Right Decision for You and Your Family.
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