Comprehensive Support for Estate Planning
Our attorneys provide comprehensive support for every aspect of estate planning. Below are some common tools we assist with:
- Living Trusts
- Revocable Trusts
- Irrevocable Trusts
- Credit Shelter Trusts
- Life Insurance Trusts
- Generation Skipping Trusts
- Supplemental Needs Trusts (SNTs)
- Qualified Terminable Interest Property Trusts (QTIP)
- Wills, Living Wills, and Healthcare Proxies
- Powers of Attorney (POAs)
- Guardianships
Essential Documents Included in a Complete Estate Plan
Last Will & Testament
A will directs who receives your property, names an executor, and can name a guardian for minor children.
Trusts
A trust can pass assets outside of probate, provide for you if you become incapacitated, or protect a vulnerable beneficiary.
Statutory Short Form Power of Attorney
This document authorizes a trusted person to manage your finances if you become unable to do so. We can walk you through New York’s recent 2021 update.
Healthcare Proxy
A healthcare proxy names someone to make medical decisions for you if you lose the ability to decide.
Living Will
A living will records your wishes about life-sustaining treatment and provides clear guidance for your healthcare agent and doctors.
HIPAA Authorization
This form allows the people you choose to access your medical information.
Updated Beneficiary Designations
Retirement accounts and life insurance pass by beneficiary form, not by your will, so these forms should match your plan.
How Do Retirement Accounts & Beneficiary Designations Fit into an Estate Plan?
Beneficiary designations on accounts like IRAs, 401(k)s, and life insurance policies automatically override whatever is written in your will. An outdated designation form can unintentionally send significant wealth to an ex-spouse or a deceased relative, bypassing your current family entirely.
The federal SECURE Act mandates that most non-spouse beneficiaries must empty inherited retirement accounts within 10 years, carrying major income tax implications. In some situations, naming a specialized trust as the beneficiary is a safer strategy to control the distribution, mitigate taxes, and protect the funds from creditors.
We highly recommend scheduling a regular review of beneficiary forms with our lawyers. We can help you coordinate these designations to align with your broader estate objectives.
Helping Families Plan for Long-Term Care Costs
Long-term care can quickly consume a lifetime of savings. Medicaid covers nursing home care for those who qualify, but it reviews asset transfers made within five years before an application. A 30-month lookback for home care Medicaid was enacted in 2020, but has been repeatedly delayed and has not yet taken effect.
State law also protects a portion of a couple’s assets and income for the spouse who remains at home, and long-term care insurance is another option for those who plan early. In our experience, many families begin planning only after a parent is hospitalized or enters a nursing home, when fewer options remain.
What we typically recommend is reviewing your long-term care goals well in advance, ideally five or more years before care may be needed. For some families, a Medicaid Asset Protection Trust (MAPT) can help preserve a home or savings.
Our strong background in hospital and nursing home law means we deeply understand how medical facilities and the Medicaid process work. We also leverage our deep family law knowledge to help families weigh their options and plan with realistic expectations.
What Happens to Digital Assets & Online Accounts After Someone Passes Away?
Much of modern life is stored online, including email, social media, cloud photos, and financial accounts. Cryptocurrency can be permanently lost if no one has the access keys. New York’s EPTL Article 13-A governs when an executor or other fiduciary may access these accounts.
Under this law, a fiduciary may be able to see a list of your communications, but cannot read the content of emails or messages without your express consent. Settings within an online service (such as a legacy contact feature) can also take priority over your will.
Our attorneys include clear digital asset authority in estate documents to secure private communications and valuable digital property. We also recommend keeping a secure, updated record of your accounts outside your will, since a will becomes a public record after probate.
Coordinated Estate Planning for Business Owners & Licensed Professionals
For business owners, an estate plan should address what happens to the company after a death or incapacity. Without a plan, a business may stall while family members sort out ownership and authority. A succession plan and a buy-sell agreement can set out who may buy an owner’s interest, how it’s valued, and how the purchase is funded.
Professionals like doctors and lawyers face added limits. New York restricts ownership of professional corporations to licensed professionals, so the family of a physician or dentist usually can’t keep the practice. The shares generally must be sold or redeemed within a set time, and patient records must be handled properly.
Our business law practice and longstanding work with healthcare providers give us practical insight into these issues. We can coordinate your estate plan with your business documents so your family and your company have a clear path forward.
Representing Your Interests When Estate Administration Leads to Litigation
When estate administration leads to disputes over fiduciary breaches, undue influence, or asset distribution, you need more than a traditional paperwork planner. Our firm includes trial-tested litigators who approach estate planning with a defensive mindset. We know how disappointed heirs attempt to dismantle estate plans in Surrogate's Court and draft documents to withstand that scrutiny.
If a conflict does arise during administration, our experienced advocates are fully prepared to litigate the matter. We frequently represent executors, trustees, and beneficiaries in will contests, claims of undue influence or lack of capacity, demands for accountings, and requests to remove a fiduciary. No matter your situation, we work diligently to protect your wealth, legacy, and loved ones.
Avoid costly disputes and gain peace of mind with a well-crafted estate plan. Contact us online to discuss your case with our knowledgeable attorneys.
