Wills and Trusts Attorney Near Me
If you’re looking for a wills and trusts attorney near me, you’ve come to the right place. The law firm of Theodore Alatsas can help you create a plan or review one you already have. Every three to five years, you should update your plan to reflect life changes, such as a divorce, birth or adoption of a child, or a change in tax laws.
Wills
If you live in the New York City area, you may be interested in hiring a Wills and estate planning attorney. These attorneys can help you create an estate plan that will benefit your family and minimize taxes. They can also draft a durable power of attorney, which will allow loved ones to handle your affairs if you pass away. They will listen to your needs and goals and offer solutions that will ensure that your loved ones’ wishes are carried out.
The first step in creating a will is to gather information about your assets. You should consider the value of your real estate and any titled resources. You should also consider the potential estate tax implications for your assets. These assets may include stocks, real estate, and bank accounts.
Trusts
If you are considering setting up a trust as part of your estate planning, you’ll need to think carefully about the benefits and drawbacks. The setup process can be expensive, and there are ongoing costs to consider as well. It’s important to consult with a legal and tax advisor before moving forward.
Trusts are legal contracts between you and someone else that will manage and distribute your assets after your death. They bypass probate and can transfer your property to your beneficiaries quickly. The key to a successful trust is choosing the right type for your particular needs. Depending on your goals, there are a number of different types of trusts you can set up.
A trust can be useful for both real estate and business-related assets. While a LLC can be managed by members, a Trust may be the best option for almost any asset type.
Choosing an estate planning attorney
When selecting an estate planning attorney, it is important to consider many factors. Not only should they have the right training and experience, but they should also be familiar with the local estate law. The laws governing estate planning are constantly changing, and a local lawyer who keeps up with the latest developments may be a better choice for you. Likewise, you need to feel comfortable with your advisor. This includes their bedside manner, communication skills, and general values.
If you have friends and family members who use an estate planning attorney, asking for referrals is a great idea. This way, you can choose an attorney who has satisfied previous clients. Another way to find a good estate planning attorney is to look online. Many sites have listings of estate planning attorneys.
