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Nassau County Estate Planning
Nassau County makes up much of western Long Island. Its population was about 1.3 million residents as of 2010. Around 24% of the population is ages 45-64, and around 15% is age 65 or older. Often, people do not want to think about the end of their lives, but most people can benefit from estate planning. This process involves a determination of how your property should be distributed after you die and who you would want to take care of any minor children. Nassau County estate planning lawyer Jules Haas has a strong understanding of how different factors, including income, family relationships, and tax objectives, may affect the content of estate planning instruments. He can advise you on your options and draft the appropriate documents to carry out your wishes.Critical Issues to Consider in Estate Planning
If you are an adult with any sort of property, it can be important to create a last will and testament, regardless of how old you are. When an enforceable will has not been created, your property will be distributed according to New York's intestacy rules. While some people are fine with this distribution, which typically involves distributions to a spouse and children, others may feel differently, or they may feel closer to friends than blood relatives. A will can allow you to leave your assets to your best friend, rather than an estranged child, for example. Often, people would prefer to choose to whom their property should pass rather than having this issue decided for them.
You can develop your own will, but developing your own will without the help of an estate planning attorney in Nassau County makes it more likely for someone to bring a will contest after you pass away. Wills must be signed in front of two witnesses, and the witnesses need to sign the will. The will can be self-proving if it is notarized. Self-proving wills speed up probate somewhat because the court will not need to get in touch with the two witnesses. In order to make a valid will, you must have what is known as testamentary capacity, which means that you understand that you are transferring property with your will, and creating the will is a formal legal action. It also means that you are aware of the nature of your assets and family members.
Wills must pass through probate, a process that can be complex and time-consuming. There are some assets that will pass automatically, such as property held as joint tenants or retirement accounts that require you to designate a beneficiary. For many people, it is a good option to have a trust instrument drafted and the trust created so that loved ones can shorten the period of probate or perhaps bypass it altogether. There are numerous trust forms, and a Nassau County estate planning attorney can help you make an appropriate choice for you. Many people prefer a revocable living trust, which permits the placement of assets into a trust while still using those assets while you are alive. The trust can be set up to designate beneficiaries to inherit particular assets. Moreover, you can place conditions on the trust assets.
Meanwhile, serious illnesses or injuries can happen to anyone. You should be thinking about what you want to have happen if you are incapacitated by an illness or injury and can no longer manage your own affairs. Our firm can draft advance directives, such as a durable power of attorney, and other appropriate documents. There are different kinds of advance directives in New York, such as a health care proxy, a living will, and a Do Not Resuscitate (DNR) Order.Consult an Estate Planning Lawyer in Nassau County
Jules Haas has decades of experience as an attorney handling estate planning and probate matters for clients. He works hard to achieve client satisfaction, from determining what the client's wishes are to drafting the documents needed to carry out those wishes. Our firm represents people throughout the Greater New York City region. Contact us at (212) 355-2575 for a free consultation or through our online form to set up an appointment and start discussing your goals.