Prepare for Your Future With Our NYC Estate Planning Attorneys
Choose an Estate Planning Attorney Who Will Put You First
Thinking about the future can be hard and stressful. However, no one wants to leave their family and assets unprotected. Work with our professional estate planning lawyers in NYC and Poughkeepsie to ensure your estate plan reflects what’s best for you.
Working with the professional New York estate planning attorneys at The Law Offices of Diron Rutty can help ensure that:
- The probate process does not affect your assets
- Your family is provided for
- Taxes are minimized
- Special needs trusts are developed
- Your estate plan is personalized to your needs
Why Do You Need a
New York City & Hudson Valley
Estate Planning Attorney?
Many people find contemplating or planning for their own death depressing. The idea of finality and loss is painful and, therefore, something they try to avoid. However, estate planning is not just about death.
Most people see estate planning as a way to decide who gets their assets, but there’s more to it than that. These plans cover both short and long-term needs. They also provide for their families.
Legal Documents for Short & Long-Term Plans
Our estate lawyer can help you create legal documents for several different situations, including when:
- You have plans for the way your children should be taken care of
- You can reduce the burden of taxes on them
- You want to maximize retirement income during your or your children’s lifetimes
- You plan for a period of incapacity or illness
Careful planning is the only way to make sure your assets are given out as you want during the probate process. For most people, this means preparing a plan to transfer personal property to:
- Family members
- Charitable causes
They also allow asset transfers without delay or unnecessary expense for the recipients of those assets after death.
Legal Documents for Incapacity
An estate attorney can also help you and your family plan for emergencies. This includes situations such as an accident or falling ill and you can no longer manage your own affairs. Estate plans are not just one legal document. They are a collection of documents.
The federal estate tax on an individual’s estate could change each year as the IRS announces the estate limit taxes. Setting up an estate plan can help you save money on estate taxes and defer the need to pay estate tax for as long as possible.
Talking to our experienced NY estate lawyers is important. They can help you plan a smooth transfer of assets. This includes assets for your husband or wife, children, grandchildren, other family members, or your favorite charity.
Why Choose The Law Offices of Diron Rutty
for Estate Planning?
At The Law Offices of Diron Rutty, we can create a complete estate plan just for you. By giving you the right information, you can make the best choices for your future. This will help you prepare documents that match your true intentions.
Our NY estate lawyers offer an extensive review of your situation and will assist you in creating an individualized plan. This can involve one or more of the following strategies:
Minimizing or Avoiding NY Estate Taxes
Our estate lawyers in NYC will assist you in creating a plan that can minimize or create the tools to assist you in avoiding estate taxes. The various tools available allow you to set up several types of trusts:
- Bypass trusts
- Credit shelter trusts
- Charitable trusts
- Life insurance trusts
- AB trusts
You can also form a company to hold your family’s wealth, estate tax-free. Setting up an annuity to help you capitalize on your long-term gains is another option our estate lawyers in NYC can implement on your behalf.
Protecting Your Assets
To protect your assets, our NY estate lawyers can help. We will work to keep your wealth safe and lower the chance of losing your belongings to creditors. While addressing your needs, we assist you in setting up asset protection sources, such as trusts, family-owned companies, and annuities.
By setting up an irrevocable trust, you are giving up control and access to your assets, allowing the trust assets to remain out of the reach of your creditor or unavailable as your resource for Medicaid planning.
However, family members can be beneficiaries of an irrevocable trust, thereby still providing them with financial support that is outside the reach of creditors. You can create different irrevocable trusts for the benefit of a surviving spouse or other beneficiaries after you die. These trusts can help protect the assets of the beneficiaries.
Provide for Minors or the Disabled
Having minor children will create many difficult situations and compromises that can be avoided if you give guardianship directions and set up a trust on the children’s behalf. If you are disabled, you might need a special needs trust.
This is also called a supplemental needs trust. It can help you keep government benefits like SSI and Medicaid. This is important if you inherit money or settle a lawsuit. Our estate planning lawyer in NYC can help you create this.
Get In Touch With Our NY Estate Planning Lawyer
Effective estate planning can help you shape the legacy you leave behind for your loved ones. But whether you’re just beginning your estate planning journey or revisiting an existing legal document, it’s crucial to seek professional guidance from an estate planning lawyer in NYC.
Remember, estate planning isn’t just about preparing for the future; it’s also about granting you peace of mind for today. With a proper will and trust in place, you can rest assured that your wishes will be honored, and your family will be taken care of in the years to come. In short, you’re in control of your assets, even when you’re not around.
If you would like to discuss your estate planning needs, you can contact our NY estate lawyer at 718-324-0404 in New York City, 845-849-9201 in Poughkeepsie, NY, use the form below, or email us at info@DironRuttyLLC.com.
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