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Wills are legal documents that detail how someone wishes for their property and possessions to be distributed after death. A will also names an executor to manage the estate as well as guardians for children or someone to oversee minors’ assets.

An estate planning attorney in New York can help you draft a will that reflects your wishes while being legally binding, as well as guide you through other estate documents.

Lawyers who specialize in estate planning

An estate planning attorney can be invaluable when planning for the financial wellbeing of your family. They can assist in making important decisions like who will receive what property or money, avoid probate proceedings and protect assets from taxes while making sure your wishes are honored after death. In addition, these experts can assist with selecting an executor to oversee all legal obligations as part of estate administration after your death.

Estate plans consist of three components: will, healthcare directives and power of attorney. A will outlines your wishes for what happens to your assets after death and names an executor to carry them out upon your passing. In addition, estate plans provide for guardians for children as well as trusts that protect beneficiaries against creditors or divorce as well as reduce or eliminate estate taxes altogether.

Your will should include a comprehensive inventory of your assets, from real estate and bank accounts to personal items and life insurance policies. It should also name beneficiaries for each asset as well as alternates should their primary one become ineligible or decline the inheritance. When considering non-probate assets such as life insurance and retirement accounts outside your will’s purview, consult an experienced estate planning lawyer who can help create a valid and enforceable estate plan for you.

After any significant life event – such as marriage, divorce, having new children, moving states or changes in your finances – your will should also be reviewed to reflect these changes and ensure it reflects your current wishes accurately. An estate planning lawyer can assist with this process to help update it accordingly and reflect your current needs.

Wills attorneys in NYC can help you draft a legal document that sets forth your wishes for the distribution of your estate upon death, assist in estate administration and probate proceedings, advise on ways to minimize taxes while increasing value and create living wills that allow you to make medical care decisions before it’s too late.

Lawyers who specialize in probate

Probate lawyers offer valuable assistance when managing an estate. This involves overseeing its distribution as well as any outstanding debts or financial obligations; guardians for minors or conservators for incapacitated adults can also be appointed during this process.

Probate is a court-supervised process in which someone is appointed to manage and distribute the deceased’s property, settle any debts owed and pay taxes after their death. Probate can be complex and time consuming but knowledgeable estate planning attorneys can streamline this process, even helping reduce or even eliminate tax liabilities so more of their funds reach beneficiaries.

Step one of probate proceedings begins when an executor named in a will files papers with the court, including lists of property, debts and who should inherit what. A judge then approves and appoints them as personal representative as well as certifies whether or not their will is valid.

New York law mandates probate proceedings if an estate exceeds $30,000 or is left without will upon death of its decedent, regardless of how they owned their assets such as real property, bank accounts, life insurance policies and investments. Some forms of joint ownership such as community property with rights of survivor-ship or tenancy by the entirety don’t need to be probated like community property with right of survivorship and payable on death/in trust for accounts that will transfer ownership upon their holders death – these accounts automatically transfer interest upon their death to new account holders automatically and avoid probate altogether.

An attorney experienced in probate will understand the laws in New York and can assist in avoiding legal complications. They can guide your family members and loved ones through the probate process while helping them understand their responsibilities and obligations. An experienced attorney may also help prevent conflict among beneficiaries while making sure your will is executed according to its provisions.

Lawyers who specialize in living wills

Lawyers specializing in living wills can help you create an advance directive outlining your healthcare preferences should you become incapacitated or terminally ill. A living will is a document that allows you to express your wishes regarding end-of-life care such as life-sustaining treatment and turning off pacemakers/ICD devices; additionally, this document also names a health care agent/power of attorney to make decisions for you if required by law. Attorneys experienced in estate planning can create these documents for you while meeting all state legal requirements.

A living will differs from a standard will in that the latter primarily addresses property distribution and naming guardians for children, while the former addresses healthcare preferences and transfer of assets postmortem. While living wills are important components of estate plans, they shouldn’t replace either standard wills or healthcare directives as the latter can provide more comprehensive planning tools.

An attorney should draft your living will to meet state legal requirements and accurately reflect your healthcare preferences. Furthermore, it’s advisable to discuss this document extensively with both family and physician members so they fully comprehend its contents.

Search online or ask your physician for referrals of lawyers specializing in living wills to find one who charges an hourly or flat fee to create the documents on your behalf. Some firms even provide discounted rates for elderly clients.

A knowledgeable attorney should be able to answer all of your questions and offer you an estate plan tailored specifically to your individual needs. They’ll explain how to reduce or avoid estate taxes, appoint guardians for minor children, establish trusts that protect beneficiaries from creditors and divorce, streamline probate proceedings by waiving bonds if applicable, as well as offer advice on managing finances more effectively while suggesting tax exemptions for IRAs and life insurance policies.

Online estate planning services

Online estate planning services offer an effective solution for those who prefer the convenience of DIY estate planning documents, without needing legal advice. Many such websites provide various packages including living wills, power of attorney agreements, last will and testament, joint or reciprocal wills as well as educational materials to help guide decision making process and state specific laws for reference purposes. Many also allow customers to save drafts for later review.

Before selecting an online service, it is essential that you determine your budget and desired changes later. Some services offer free trials where documents can be printed prior to expiration; other charge a flat fee upfront while still others provide money-back guarantees should their services prove ineffective.

Know that online will-drafting services provide documents with varying quality; some may contain grammatical errors and may not be valid in your state, and many don’t provide services for revising wills after significant life events such as marriage, divorce or having children – modifications which require legal expertise for successful implementation may not be available or provided as easily without legal representation.

An effective online estate planning service should provide an easy, step-by-step process for creating your will and allow you to select witnesses and notaries publics as necessary. Many states also mandate two witnesses sign your will before its signing can take place, which means it’s wise to select notaries who possess high integrity and trust if your will is ever challenged in court. Doing this may save your witnesses having to testify in court if challenged!

Some online services also provide bundles of documents at a reduced cost, making this an excellent solution for couples who wish to create reciprocal wills as a means of making sure their wishes are carried out upon death.