- Drafting Wills and Trusts
- Surrogate’s Court Filings
Estate Planning law encompasses all of the legal aspects involved in planning for a variety of situations that may arise throughout a person’s lifetime: If you fall ill and become unable to make decisions- who will act on your behalf? It addresses the distribution of your assets if you pass away- whether it was expected or sudden. Estate planning also includes planning for your business dealings upon your death, and offers a method through which you can provide financial security to your loved ones once you’re gone.
Some might think that only wealthy people require this sort of planning, but that is incorrect. If you live in Brooklyn or New York City, the law office of OLga Suslova, P.C. welcomes you to call for a free consultation with one of our estate planning attorneys to find out how we can help you prepare for the future right now.
Documents associated with Estate Planning Law allow people of all ages and wealth levels to create a plan for the distribution of their assets in the wake of their death. Wills, Trusts, Power of Attorney documents and other contracts that can be drafted by Estate Planning attorneys are a legally binding way individuals can provide for the financial security of your family and loved ones, their own health care and their distribution of weather after their passing.
Olga Suslova & Staff have extensive experience in dealing with all items that fall under the umbrella of New York estate planning law. We have the knowledge and skill required to handle the variety of clients we see throughout the Brooklyn and greater New York City area. Our law office offers comprehensive estate planning services including:
Special Needs Planning
Estate Tax Planning
Wills and Probate
Drafting these documents with a qualified estate planning attorney ensures the distribution of your assets, your intentions of who to make decisions regarding your health care if you are incapacitated, and other things will be handled as per your wishes. At Olga Suslova, P.C. we always strive to provide our clients with the utmost in service, and our personalized, comprehensive approach to estate planning law sets us apart from other firms. We will guide you through the sometimes overwhelming legal procedure, providing honest and helpful counsel. We are prepared and willing to help our clients through the variety of legal decisions people are faced with during the course of estate planning.
Brooklyn Estate Planning Attorney
Contact the law office of Olga Suslova, P.C. for a free consultation to discuss your estate planning questions. Our Brooklyn law firm knows it’s crucial to have a solid plan set for the future, and we have the knowledge, experience and compassion to help you and your family plan for the assortment of legal situations that arise throughout the course of a lifetime. We’ve been serving Brooklyn, and Manhattan in various Will and Estate Planning Law matters. Don’t hesitate to set a plan in motion, we believe that preparation is power.
Last Will and Testament
A will is a cornerstone of any effective estate plan. Your will determines who inherits your property, which includes financial assets as well as your personal possessions with sentimental value. However, assets such as bank accounts, investment accounts, and retirement accounts pass outside the will according to their previously determined beneficiary designations.
You need to have a will even if you don’t have substantial assets. Your will names an executor for your estate. If you have minor children living at home, it also names a guardian who will care for them in the event of your death.
If you were to die without a will, your assets would be passed according to intestate succession rules. These rules generally allow your closest living relatives to inherit your assets. The court would appoint an executor for your estate and a guardian for your children.
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A trust is a tool that allows a third party, known as the trustee, to oversee assets on behalf of a beneficiary. Contrary to popular belief, trust funds aren’t only for the very wealthy.
A trust can be used for a number of purposes. For example:
- Protect assets. Trusts are commonly used as asset protection tools because the assets contained in the trust are no longer legally owned by you. This prevents them from being seized by creditors or subject to legal judgments.
- Minimize taxes. Trusts can be used in conjunction with a will to minimize taxes, prevent your assets from going through the time-consuming probate process, and protect your personal privacy.
- Prevent mismanagement of assets. Leaving an inheritance in a trust allows you to have greater control over how your beneficiaries will spend the assets. This can be helpful if you are worried about spending decisions due to age, mental health concerns, addiction, or a past history of poor money management.
- Provide for a loved one with special needs. If you have a loved one with a physical or mental disability, providing an inheritance outright can jeopardize their claim to valuable government benefits. A special needs trust can pay for expenses that will improve their quality of life while still allowing them to access necessary healthcare services.
- Support charitable giving. If charitable giving is important to you, creating a trust can be an effective way to leave a lasting legacy for a cause that you support.
Please keep in mind that a trust is not a substitute for a will. A trust expands your estate planning options, but you will still need to create a Last Will and Testament.