Wills & Estates

NYC Elder Law has extensive experience in estate planning, and can assist you in carrying out your wishes when time comes, with the least tax consequence possible.
A Will is a legal document expressing the desires of the author with regard to the disposition of property after the author’s death. Besides, in your will, you can also determine guardians who will look after your minor children, establish trusts for your children's benefit and reduce or eliminate federal estate taxes. Drafting a will without a qualified attorney is a risky business, because, if you make a mistake, a court might declare your will invalid.
A person should have a will regardless their marital status, age or the amount of personal assets. In fact, every eligible adult should have a will or other means to control the disposition of their assets. Even people that have living trusts should consider preparing a will, because, without a will, any property not named in the living trust will pass according to state law, not necessarily in accordance with a person's wishes. To have a legal right to enter into a will, you need to be “of age” and in the “right mind”.
Your estate includes all the property that you own at the time of your death. Through your will you can give away any property you own at the time of your death. There could be certain assets that you own that may pass outside of your will, by way of a beneficiary designation, such as your retirement plans, life insurance, bank accounts and living trust assets or property subject to a contract.