The Importance of Proper Family Estate Planning
Whether it is planning for your family’s future or dealing with the sudden death of a loved one, we have years of experience providing outstanding services in preparing wills, living wills, trusts, powers of attorney, appointing administrators, executors, and guardians.
- Wills - Many people see Perdomo Klukosky and Associates for their wills, and preparation of their living wills.
- Trusts - Trusts can be created for a variety of reasons, including protecting assets for a beneficiary’s lifetime.
- Estate Planning - Estate planning is the process of arranging in advance for the disposal of an individual’s estate.
Perdomo Klukosky and Associates are attorneys with experience in estate, healthcare and guardianship issues can safeguard clients’ interests, clarify legal questions and eliminate uncertainties during difficult life situations. Our professional legal advice can avoid problems with taxes, lawsuits and protecting assets. As NYC Estate Planning Lawyers working in the areas of wills, trusts, and estate planning provide support, information and guidance for a number of your legal needs:
A properly drafted Will -often referred to as “Testament” gives you confidence that your wishes will be carried out the way you intend. Failure to include a Will in your estate plan can result in distributions of your estate in a way not in accordance with your wishes and the imposition of unnecessary estate taxes and administrative burdens.
Living wills, allow you to express your wishes in the event you are unable to speak for yourself if illness comes your way. Unlike a Will, a Trusts allows you to appoint a separate legal entity to hold title to property for the benefit of one or more individuals during your lifetime or after your death.
A trust is a relationship between three parties, in which one party transfers real or personal property to another party (the trustee), to hold for the benefit of a third party, the beneficiary. Trusts can be created for a variety of reasons, including protecting assets for a beneficiary’s lifetime. Funds held in trust can be disbursed by a designated representative as agreed by all parties. Attorneys experienced in trust issues can assist in creating a trust account and ensuring that contracts and agreements relating to the trust are legally binding.
Estate planning is the process of arranging in advance for the disposal of an individual’s estate, which can include distributing assets, resolving questions of guardianship, and avoiding tax liability. Estate planning conducted by an experienced attorney helps to avoid issues relating to probate, assists with guardianship of vulnerable individuals, and maximizes the value of the estate by resolving tax questions and other issues in advance.
Powers of Attorney
A power of attorney is a written authorization for one individual to act on behalf of another for business, financial or healthcare reasons. Powers of attorney can be put into effect for temporary and long-term situations in which an individual is incapacitated. Legal assistance in establishing a power of attorney protects the interests of the signer and clarifies the legal responsibilities of the person assuming the power of attorney.
A healthcare proxy is an instrument which allows an individual to appoint an agent to make healthcare decisions on their behalf if they become incapacitated. A lawyer can create an instrument which clarifies and establishes legal parameters for the administration of the healthcare proxy and protects the interests of the client.
Issued during probate, letters testamentary are documents issued by the court which declare the authority of an executor or personal representative of the estate of a person who is deceased. Qualified attorneys can assist in the event of challenges from other individuals asserting a claim to this position, or other heirs objecting to the process.
In cases of business insolvency or the absence of individuals willing to oversee an estate or other concern, the court may order the appointment of an entity or individual to administer the situation. Court-ordered administration of an estate or business benefits from the advice and support of an experienced attorney who can advise clients on laws and other issues related to the process.
Surrogate Court Practice
A Surrogate Court Practice deals with probate, guardianship and estate administration issues on behalf of a minor under the age of 18. Attorneys experienced in probate law and legal issues regarding minors can ensure that the minor individual’s interests are protected and all legalities pertaining to the administration of the minor’s assets are addressed.
Probate is the legal process of administering the estate of a deceased person to ensure that all claims are resolved and assets distributed in accordance with a valid will. During the probate process, an executor or other personal representative of the estate is identified and named by the court, and assets named in the will are distributed according to the wishes of the deceased. Experienced probate attorneys can represent the interests of heirs and resolve any other claims on the estate.
A beneficiary named in a will or another individual who would benefit if an existing will were declared invalid can legally contest a will by filing suit to set aside the provisions of the will and the wishes of the deceased. An NYC Estate Planning Lawyer experienced in probate issues can assist in the contesting of a will and ensure that all legal issues are resolved.
Appointment of a Guardian
Guardians can be appointed by the court for individuals under the age of 18, or for older individuals who are no longer able to care for themselves. Attorneys experienced in guardianship law can ensure that the dependent individual’s best interests are represented and that a qualified guardian is appointed.
A testator is an individual who has made a valid will. The term testatrix may also be used to refer to a woman who has made a will but generally the term testator refers to both sexes. Probate and estate planning attorneys can assist in the preparation of wills to ensure that they are legally valid, and advise clients about the best ways to manage assets and comply with laws regarding the distribution of property and other items.
A petition for the compromise of a minor is filed when an individual under the age of 18 is involved in a disputed claim against an estate for damages, money or other property. NYC Estate Planning Lawyers experienced in guardianship, probate and estate issues can assist in this process to safeguard the minor client’s assets and ensure that all legal processes have been followed.
Please contact us for a legal consultation with a NYC Wills Trusts Estates Lawyer.