Proper estate planning will efficiently and effectively transfer your assets to beneficiaries by minimizing or eliminating estate taxes, saving on attorneys' fees and avoiding probate administration. A responsible and experienced New York estate planning lawyer will be familiar with the nuances of both state and federal laws that influence the efficient distribution of your estate, no matter how complex.
At the Law Offices of Steven M. Adler, PLLC, we provide our clients with essential and personalized services. Our Garden City attorneys can help you prepare wills, trusts and advance directives, and create family limited partnerships and other entities that can reduce your tax burdens to the lowest possible amount. We are an organized and results-oriented legal practice, and we work diligently to help you make informed decisions that lay the foundation to accomplish your goals and facilitate prosperity for you and your beneficiaries.
Contact Us Today to Schedule a No-Cost Initial Consultation
Call us at 516-240-5216, or contact us by e-mail to schedule a meeting and an analysis with our attorneys who each have more than 20 years of experience helping clients create comprehensive estate plans. We provide initial consultations over the phone or in person.
The foundation of a sound estate plan is your will. It is never too early to organize your wishes and priorities legally. Preparing your will now can save your heirs significant expense, time and stress later.
Garden City Wills and Trusts Attorneys
Aspects of a Thorough Estate Plan
We understand that just thinking about drafting a will can sound morbid, but everyone should ensure that his or her wishes are carried out as intended. The sooner it is done, the sooner you can feel secure about property and asset distributions, tax efficiencies, funeral arrangements and other administrative issues.
A thorough estate plan brings you peace of mind. It protects you, your spouse, your children and other beneficiaries in life, sickness and death. Appointing a trusted executor of your estate ensures that all distributions are carried out in accordance with your wishes and with minimal expense.
Our personal advice and guidance along with our dedicated services can benefit your decisions in a number of areas, including:
- Estate administration
- Asset protection
- Business succession
- Property distribution
- Life insurance
- Advance directives
- Family law
- Elder law
How Can the Unified Tax Credit Help You?
The Unified Tax Credit is a credit which can reduce or eliminate your combined federal estate and gift tax. It is in a state of constant flux along with its counterpart at the state level. It is crucial to consult with an experienced New York attorney who keeps up to date with these changes.
Effective in 2011, the Unified Tax Credit:
- Increased the exclusion amount on estates and gifts to $5 million
- Reduced the maximum tax rate from 55 percent to 35 percent
- Included a "portability" provision, which allows a surviving spouse to use any applicable exclusion amount that is not used by his or her predeceased spouse
These updates end in 2012, and it is unclear whether they will be modified or continued. Additionally, considering that the New York state exclusion amount is $1 million, it is critical to address these aspects with a knowledgeable estate planning attorney for maximum efficiency and benefit, which can include trusts and advance directives.
Trusts and Advance Directives
Several types of trusts that can be revocable or irrevocable can maximize your efficiencies and returns to beneficiaries. We put your best interests first and foremost, and we are highly experienced at ensuring the efficacy and enforceability of health care proxies, living wills and durable power of attorney. Everyone needs to legally document his or her individual desires pertaining to life-sustaining treatments to ensure his or her wishes are carried out.
Contact Our Nassau County Estate Planning Attorneys
Our flexible business hours, compassionate advice and years of experience provide the abilities to accommodate your needs and exceed your expectations. Call us at 516-240-5216, or contact us by e-mail to schedule a free initial consultation.
