Estate Planning Legal Services - New York estate planning attorney Inna Fershteyn creates a comprehensive estate plan tailored to a client's unique circumstances. Ms. Ferstein uses her extensive knowledge of trust and estate law to draft documents based on client needs. The estate planning attorneys at the Law Offices of Inna Fershteyn and Associates, P.C. Focus on minimizing taxes, protecting your assets and using tax laws to your advantage. For more than 23 years, customers have trusted Inna Fershteyn, and its stellar record has earned the company more than 240 positive reviews online.
If you live in the New York area, the following five estate planning documents will provide the foundation for your estate planning. If you already have these documents, we recommend that you review them as changes occur and ensure that they are updated to comply with New York property tax laws. Do you have a question about estate planning? Call us at (718) 333-2394 or contact us online or via chat below for an immediate estate planning consultation with a rated estate planning attorney 5 Star Rating Inna Fershteyn, Esq.
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Remote Zoom Conferencing is now available to any disabled or out-of-state clients who can now make a virtual connection with our top agency care law and free your whole family to join our first consultation so we can work with the best NY elder law attorneys can do Negotiate and prepare your NY estate planning legal document. This new feature allows any family member in any of the 50 states or another country to be actively involved in every aspect of your representation, such as a Will, NY Durable Power of Attorney, Health Care Power of Attorney, Medicaid Asset Protection Trust, etc. Gross Income Trust, or get a Medicaid funded home care benefit for your loved one in NY. If your problem is urgent, please send us a message here and we will respond quickly.
Free Estate Planning: Wills & More!
Planning your estate involves tough decisions about privacy issues related to property and asset distribution. Our estate planning attorney, Inna Fershteyn, Esq. We will work closely with you to develop an estate plan that addresses your concerns, which may include:
A will is a legal document used to express your final wishes. It dictates how your assets will be distributed after death.
This gives a person the ability to make decisions when you are incapacitated and unable to fend for yourself.
This legal document allows you to appoint a guardian to make decisions about your health care if you are unable to do so.
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This legal document outlines your desire for medical care if you have certain medical conditions.
A revocable living trust is a popular estate planning tool used to determine who will receive your estate upon your death.
How NY estate planning law firms can help you: We take action for you
No two estate plans are exactly alike, but all require some or all of the following twelve steps to be taken with your estate planning attorney:
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These actions ensure that assets reach your chosen people in an orderly and economical manner, but most importantly, reduce the administrative burden on your survivors as they try to save money and deal with the emotional trauma of death. You'll also avoid the costly mistakes we document below.
Have you assessed your family's estate planning and elder law needs? Our estate planning attorneys have compiled the following list for you. The six most common estate planning mistakes made are:
This is the #1 common estate planning mistake. However, death is inevitable. With careful planning, you can ensure that your personal and financial issues are well-settled after your death.
During your lifetime, many changes may occur, including the birth of a new child, adoption, marriage, divorce, and the purchase of a new property. It is important to update your consent so that you can account for these changes.
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By putting your child's name on the deed to your home, you are creating a financial headache for your child because they will face higher property taxes. Consider creating an estate plan that transfers the home through inheritance.
Sometimes people choose a spouse or child to be the executor of the estate. However, there may be someone else who can manage your assets in your absence, who is not personally invested and can better handle larger tasks.
Asset planning helps you plan for unexpected or long-term disability as well as any eventuality. Without proper planning for your disability, you can face huge personal and financial consequences. Therefore, consideration should be given to appointing a power of attorney or living trust to handle these cases.
Without a professional estate planning attorney, you can create an ill-advised estate plan. If you have complex assets or are unsure about planning your own estate, you should consider seeing an estate planning attorney.
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Our law office offers a full range of estate planning services and tools for estates of all sizes. Contact Inna Fershteyn today to schedule an initial consultation with an experienced estate planning attorney. Call (718) 333-2394 or contact us using our contact form. Licensed in New York and New Jersey.
Any real or personal asset except IRA plans and life insurance policies can be transferred to the trust. While you can't roll over your IRA into a trust, there are ways to ensure that beneficiaries receive IRA funds even if the beneficiaries are minors. An experienced estate planning attorney will explain the process in detail to you and complete all transfers to the trust in accordance with applicable state law. Law Office of Inna Fershteyn & Associates, P.C. Represents clients in their estate plans, whether properties are located in NY, NJ, PA, CT, FL, CA, WA and other states.
Transferring the deed from one name to another is never a good idea. By transferring your property outright, you not only make the gift a taxable event, but you also subject yourself to estate transfer taxes and other fees that can easily be avoided with good planning. An experienced New York real estate and qualified real estate trust attorney. Furthermore, a recipient of an outright gift automatically inherits the donor's tax basis for property that has increased substantially in value over the years. The resulting capital gains tax would be much higher than if these assets were transferred to the same person through a will or trust. The estate tax attorneys at Inna Fershteyn & Associates Law Office, P.C. can help you achieve the same goal of transferring assets to your loved ones and reducing your tax burden, but do so in a tax-free transaction and with minimal capital gains.
The answer depends on your specific situation. If you live with your spouse and only one of you enters a nursing home without a proper aged care plan, the home will remain in possession of the other spouse for the rest of your life. However, if Medicaid does not have an eligible Medicaid plan, a levy may be imposed. Therefore, losing a home to pay for Medicaid is a real possibility. P.C. at the Law Office of Inna Fershteyn et al. We specialize in Medicaid planning, elder law planning and asset protection for over 18 years. Our experienced attorneys will assess your long-term care needs and find the optimal solution for you and your family to protect your assets from nursing home claims.
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In New York, probation can last anywhere from 12 to 18 months. Unfortunately, Kings County probate is the most complicated and difficult process. Probate fees and costs depend on the value of the estate and range from $600-$10,000 depending on how much property is in the estate. Law Office of Inna Fershteyn & Associates, P.C. Experienced probate attorneys in King's and New York counties and have represented clients in NY Surrogate's Court for over 18 years. Call our office at 718-333-2394 to save probate time and money in NY.
The simple answer to this question is that a will requires the decedent to go through the "probate" process in the probate court of the deceased state, which is a long and complicated process regardless of the circumstances. Tell me what state are you from? inside In New York, probate takes more than a year and probate costs can be up to 6% of the total estate value. A will is not valid unless it is probated and letters of probate are issued. A trust does not need to go through probate and allows your beneficiaries to access your assets after the death of the settlor of the trust without any formal proceedings or any court proceedings. Setting up a trust usually costs more than drafting a will, and trusts incur more costs.
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