Long Island Estate Planning

Estate Planning Lawyer Serving Long Island Residents

As an adult, it’s important to create a will and other instruments that can be used to carry out your wishes should you become incapacitated or pass away. If you are concerned about estate planning, it’s important to seek legal help, as this can help stave off objections from friends and family after your death. Jules Haas is a skillful Long Island estate planning attorney with more than 40 years of experience who will take the time to listen to your objectives and draft legal instruments to help you achieve them. He also has experience with estate litigation, probate, and estate settlement, allowing him insight into how the courts will respond to the provisions of a will or trust.

Long Island Estate Planning

A last will and testament is a crucial estate planning instrument that sets forth how you want your property to be distributed after your death. When somebody passes away without creating a valid will, their property will be distributed according to the rules of intestacy. This often means that property goes to a spouse or children of the deceased. Estates, Powers and Trusts Law (EPTL) section 4-1.1 provides the line of succession. If you do not have a spouse or children who survive you, increasingly distant relatives are in line to inherit. A carefully drafted will allows you to have better control over how your property is divided after your death—many people are estranged from their relatives or would prefer to leave certain items to specific friends.

Generally, working with a law firm to draft an enforceable will can help avoid will contests and other estate litigation after your death. Various requirements must be met to make a will enforceable in New York. To make a will, you must have testamentary capacity. You must be competent, of sound mind, and at least 18 years old. Two witnesses must watch you sign the will. The witnesses will also need to sign the will. When a will is notarized, it can be self-proving, thereby expediting the process of probate, which can be a complicated process.

Certain items of property pass automatically upon the owner’s death. For example, property held as a joint tenancy may pass automatically to the other joint tenant. Similarly, a retirement account that requires you to designate a beneficiary will pass automatically to the beneficiary. A knowledgeable estate planning lawyer serving Long Island can help you determine how you should title your assets.

Sometimes it is important to create a trust, which is an arrangement whereby a trustee manages property for the benefit of a beneficiary. There are different forms of trusts, and they can last as long as necessary. Sometimes they continue to exist until the beneficiary passes away or the property is depleted.

One type of trust is a special needs trust. You can make a special needs trust for the benefit of someone with mental or physical disabilities who doesn’t have the ability to manage his or her own finances. Sometimes those with disabilities are able to get governmental assistance such as SSI or Medicaid, but if they inherit money through a will, the acquisition of a lump sum can result in disqualification for these necessary benefits. A special needs trust can be drafted to avoid this result. The beneficiary’s specific lifestyle, needs, and probable future circumstances will dictate the trust arrangement. The special needs trustee may be a family member or somebody appointed by the court. A trustworthy Long Island estate planning attorney can help you determine who an appropriate trustee might be in your situation.

There are other important protections that should be put in place during the course of estate planning to account for the possibility of a serious injury or illness. Instruments that should be considered and drafted as appropriate include a durable power of attorney, which is an advance directive. A power of attorney is a legal document that authorizes an agent to act for a principal. It might go into effect if you became incapacitated and needed somebody to take care of your financial affairs. Two other types of advance directives are living wills and health care proxies. A person may also want to consider creating a Living or Grantor Trust. If a person becomes incapacitated and does not have any advance directive, he may need a Guardian under Article 81 of the Mental Hygiene Law. Jules Haas is a guardianship lawyer and can provide representation in guardianship proceedings.

Consult an Experienced Long Island Lawyer for Your Estate Planning Needs

For more than 40 years, Jules Haas has worked with clients to help them achieve their estate planning goals. As an experienced will and trust attorney, he works hard to earn client satisfaction. Our firm represents clients throughout Queens and the Bronx, as well as Manhattan, Kings, Nassau, Richmond, Suffolk, and Westchester Counties. Contact us at (212) 355-2575 or through our online form.