A well-drafted New York estate plan is one of the greatest gifts you can give to your spouse, your children, and your heirs.
Passing on without an estate plan can throw your heirs into a legal situation that can cost thousands of dollars in legal fees, taxes and other costs that could have been avoided with proper planning.
New York estate planning is much more than simply drafting a will. It includes instructions about asset distribution upon death, healthcare decisions (such as withdrawals of life support and the appointment of someone to make that decision), guardianship issues as well as income and estate tax issues.
Many of these issues must be dealt with regardless of the size of one’s estate. A well-crafted plan can give you and your family peace of mind.
Large estates in New York can be complex and designed to incorporate a dynasty trust for your children, which will ensure that your assets will not go unmanaged and unaccounted for to the guardian.
The trust can also be designed to ensure that your children will not receive an outright distribution of assets at the age of majority when many young people may have a difficult time managing assets in a complex investment arena.
Finally, for the middle income to the very wealthy, tax planning is essential to the smooth and efficient transfer of wealth between the generations.
We help you control the distribution of your estate, save money & provide for your family. Pulvers, Pulvers & Thompson, L.L.P. is here to help you in estate planning and legal services. Contact our New York estate planning attorneys to get the New York estate planning process started today.