Brooklyn Estate Planning Lawyer

Estate Planning Lawyer Advising People in Brooklyn

Most people would like to have some say over what happens to their property and children after they pass, or if they become incapacitated and unable to manage their own financial and daily affairs. There are critical documents that most people should have drafted by an experienced Brooklyn estate planning lawyer. Jules Haas is a trustworthy Brooklyn estate planning with 40 years of experience who handles estate planning as well as probate and estate administration matters. He understands which kinds of contingencies you should expect and knows how to execute a client’s intent through formal estate planning documents.

Crafting a Comprehensive Estate Planning Strategy

It is important for many people in New York to have an attorney draft a will, a health care proxy, a living will, and a durable power of attorney for finances in case they are incapacitated or pass away. For some people, it is important to avoid probate after their death. Probate can be time-consuming. There are ways to avoid probate, such as by creating a trust. It may also be important to minimize the estate tax. There is a state estate tax that is imposed on estates. Your family may need to deal with the tax if you own real estate in the Brooklyn area.

Wills

The will or last will and testament is a document in which you leave your assets to beneficiaries and name an executor to ensure your wishes are carried out. You may also wish to name a guardian for your underage children and to name somebody to manage any property that you leave to your children. If you do not have a proper will drafted, your property will be distributed according to New York’s intestacy laws, which are found in Estates, Powers and Trusts Law (EPTL) section 4-1.1. First in line to inherit are your spouse and children, if you have any, and next are increasingly distant relatives. A will allows you to have better control over how your property is divided after your death.

It can be helpful to hire an experienced lawyer to make sure that the will is enforceable and to avoid will contests later. To be enforceable, you will need to sign the will in front of two witnesses, and they also must sign the will. You can make a will self-proving by using a self-proving affidavit signed by the attesting witnesses and notarized.

The executor whom you name should be someone with integrity whom you trust. After you pass away, the executor is supposed to pay off debts and taxes and distribute the remainder to the people to whom you indicated that it should go. The executor whom you name should be of sound mind and a minimum age of 18 years old. New York probate courts may reject the executor named if the executor is unfit to serve for reasons like substance abuse, improvidence, dishonesty, or an inability to understand the role.

Trusts

Some people want to create a trust in addition to a will. A trust is an arrangement in which somebody holds legal title to property for a beneficiary’s benefit and they can be characterized as irrevocable or revocable. Types of trusts include special needs trusts, testamentary trusts, irrevocable life insurance trusts, and charitable trusts. A living trust is one that is created while you are alive and holds assets during your lifetime; the assets are distributed to beneficiaries after your death without going through probate. The person who holds legal title is the trustee, and you can serve as the trustee for your living trust, thereby maintaining control of the property. The probate process in New York is not simplified through the use of the Uniform Probate Code, as it is in some other states, but creating a living trust can allow the probate process to be avoided.

Consult a Knowledgeable Estate Planning Lawyer in Brooklyn

Attorney Jules Haas has more than 40 years of experience providing legal representation and counsel related to estate planning issues to individuals and families in Brooklyn. He works hard toward satisfying clients and will listen carefully to the details of their needs. Contact us at (212) 355-2575 or through our online form to start discussing your situation.