Dedicated Smithtown, NY Estate Planning Helping You Preserve Your Wealth
Estate Planning is not only important for ensuring financial stability and peace of mind for your loved ones, but it can also help you better prepare for your own future. The process involves more than just creating a Will. A detailed estate plan will address issues such as Trust Administration, Living Trusts, Probate, powers of attorney, Elder Law, Medicaid planning, healthcare directives, and more. The professional Estate Planning attorneys at Mark S. Eghrari and Associates PLLC strive to apply our advanced knowledge of the legal system and Estate Planning experience to ensure a customized solution that accomplishes your Estate Planning goals while minimizing tax burdens. Our Smithtown, New York Estate Planning attorneys strive to maintain a sensitive approach to the Estate Planning process while taking extra precautions to make sure that each aspect of the estate plan is addressed with your preferences clearly indicated.
By combining a sensitive and professional approach with a rare depth of knowledge, our Smithtown Estate Planning attorneys can provide exceptional advice, guidance, and solutions on the following matters.
Trustees probably aren’t aware of the complexities involved in the Trust Administration process. Although you may be legally entitled to a specified portion of a loved one’s estate, there are a few important legal matters that must be addressed before anything can be distributed. This process typically involves notifying beneficiaries, gathering assets and investments of the trust creator, paying off debts, filing taxes, and so on. Because this process tends to be complex and time consuming, our Trust Administration attorneys are here to ensure trustees receive all of their entitlements in a quick and easy manner.
Part of the Estate Planning process includes establishing an official document for distributing your savings and assets. This can either be in the form of Living Trusts or Wills. Although Living Trusts are similar to Wills, they differ in that a trust is a private document that is not required to be filed in Probate court– an expensive and complicated legal process that can deter the entire Estate Planning process. Our Smithtown Estate Planning attorneys can help you establish limitations and specified instructions for your Living Trusts as well, such as age or amount limits for younger trustees. This ensures that your estate is distributed exactly as you prefer.
The Probate process can become especially problematic if there is conflict among your family members and loved ones; the Will is written in an ambiguous manner; the Will fails to address certain issues regarding your estate. Our Smithtown Estate Planning lawyers have frequently undergone the Probate process and are well aware of what it entails and what complications can arise to inhibit the intended distribution of assets. This experience gives our Estate Planning attorneys the skills and knowledge necessary to avoid these while completing your Will and undergoing the Probate process for you.
Health Care Directives
For ensuring that future health care decisions are made according to your wishes, you have the option of either establishing a legal document addressing health care directives or appointing a trusted loved one to make the decision for you by granting them powers of attorney. You can also choose both options. Our Smithtown, New York attorneys are here to make sure your wishes are granted when you are incapable of making them yourself through the establishment of health care directives documentation. We strive to confirm that these directives are clear and in line with your preferences, so you can help ensure that your preferences will be honored under any situation.
Although health care directives may be involved in Elder Law, there are many additional factors that should be addressed in this portion of your estate plan. These factors include nursing home planning, Medicaid planning, guardianship, disability care, retirement planning, and so on. Rising costs of nursing homes can cause a strain on any family, which is why our Smithtown Estate Planning attorneys strive to help you better prepare for the cost while easing the burden through helpful solutions such as Medicaid.