Beneficiaries of an Estate

Beneficiaries of an Estate Can Help the Estate Planning

Estate planning involves consideration of many important items. Most people think that planning an estate only applies to the very wealthy and concerns fancy estate tax formulas and trusts that diminish the impact of taxes and preserve assets for future generations. 

The fact is that most individuals need to consider and establish a solid plan with the assistance of a New York City estate beneficiary lawyer even though most estates are not subject to estate taxes.  Nowadays, the federal estate tax exemption exceeds $5 million and the New York Estate tax is on its way to exempting the same amount as the federal law.

It is not uncommon when consulting a New York estate lawyer that a client will inquire as to whether he or she should discuss the proposed plan with other family members.  Typically, spouses work together in planning.  This is because most spouses own assets together as joint tenants or tenants by the entirety or have named the other spouse as a beneficiary on a retirement account or life insurance policy,  Moreover, when the couple has children, they both want to make sure that the provisions in their documents provide for the estate assets to pass to the children upon the death of the last surviving spouse.

It is also a good idea to involve other family members in the process.  Of course, discussing advance directives and testamentary dispositions with family members such as children is a personal decision that takes into consideration family dynamics.  However, where children or other members of a family or even friends have a solid trustworthy relationship, advising them as to the process may be beneficial.  For example, it may be helpful, particularly where the creators are elderly, for beneficiaries to know the location or extent of assets so that the assets can be quickly secured in the event the creator becomes ill, incapacitated or dies.  Also, it is helpful that named beneficiaries and fiduciaries such as executors and trustees are aware of their appointment and are familiar with the location of documents such as a Last Will, Health Care Proxy or Power of Attorney so that they can access these papers when needed. An estate beneficiary lawyer can help New York City residents make sure that everything is in order as planned.

It should be pointed out that the current form of the New York Power of Attorney requires that the agents appointed to use the power also sign the Power of Attorney and have their signature acknowledged by a notary public.  The provisions of the New York law regarding the statutory short form power of attorney are contained in the General Obligations Law beginning at Section 5-1501.

As a New York City estate beneficiary attorney, I have many years of experience working with and advising clients in the creation and implementation of plans that effectively express the clients’ personal desires regarding the disposition and protection of assets while providing potential tax advantages and security for family and beneficiaries.  I have also represented many beneficiaries of an estate.

I graduated in the top 10% of my class at New England School of Law in Boston and served on the prestigious “Law Review.”

Contact me directly at (212) 355-2575 or by e-mail for a free appointment with an estate beneficiary attorney in New York City.

Client Reviews
Jules Haas helped me with managing the process in probate court for my father's estate through to its completion upon the sale of my father's house. He was knowledgeable, efficient, and effective in submitting documentation to the probate court, explaining procedures to me, and advising me as to the progress of my case. His support staff was also very helpful. He made what for me created so much anxiety into something manageable where I could see progress every step of the way. His fees were very reasonable. I am super grateful to him for all the help he has provided and strongly recommend his services.
★★★★★
I found Mr. Haas after being misguided by a former attorney. Mr. Jules Haas took our case which involved an estate/trust dispute. What initially seemed like an impossible and overwhelming legal fight was now in the hands of someone who had the integrity and legal expertise to win our case. Mr Haas' attention to detail and his expert knowledge base, skillfully and successfully guided us through an intricate legal process. I am very thankful and grateful to Mr. Jules Haas for representing our interest and ultimately winning. Bringing about a peace of mind we needed. Thank You Devida Nedd
★★★★★
I was in need of a guardianship attorney and I hired the services of Jules M. Haas' Law firm. The service of counselor Haas and his staff, was very profesional and the case was handled in a timely matter. I would strongly recommend his services Angel Guevara
★★★★★
I strongly recommend Jules Haas. I have worked with him for two years and he has provided so much support and followed through with everything he promised he would do. His support staff is just as helpful! We had an interesting case and he helped to solve each part of it legally and was very thorough. Thank you for everything you have done to finalize our families estate Robyn Stafford
★★★★★