Wills, Trusts, Estates
At The Law Office of Alexander Paykin, P.C., we believe that comprehensive estate planning is essential for clients at all stages of life, regardless of net worth. Whether you are a young family with moderate income or a business owner with millions in assets and a dozen beneficiaries, estate planning can ensure that your wishes are carried out if you become incapacitated or pass away.
Whether your goal is to preserve wealth, create a plan for what to do in the event of a disabling illness or injury, avoid probate, protect certain assets from creditors, appoint legal guardians for minor children, form a trust, or all of the above, an estate plan can do it all, and more.
Our highly-skilled estate planning attorneys know how to anticipate potential problems that could arise after you have passed away. We utilize proactive estate planning, incorporating language and strategies that address and resolve these problems before they occur.
What is Estate Planning?
Estate planning is a broad term for the creation of a plan that specifies a person’s wishes if they become disabled, and how their money and property will be distributed upon their death. As such, the estate planning process often involves the following documents:
• Revocable trust
• Durable Power of Attorney
• Health care directive
• Property transfer documents
Every adult should have a Last Will and Testament; it is not just a legal document for people with significant wealth and assets. Wills designate who receives your assets if you die, how your property will be distributed, who will handle your affairs, and who will assume legal guardianship of any minor children. Your will is essentially the foundation of your entire estate plan. Even for people with limited means, a will can be an extremely effective and inexpensive method of transferring assets through the process of probate.
Another way to help your beneficiaries avoid probate is through an estate-planning tool called a trust. A trust can supplement a will, manage property while the trustee is alive, and after he/she passes. A revocable trust can be changed throughout your life to reflect life changes, such as birth, marriage, and divorce. In addition to helping clients avoid probate, trusts reduce estate taxes, offer protection against creditors, and may help with Medicaid eligibility and business succession planning. Whatever your estate planning needs, the legal team at The Law Office of Alexander Paykin, P.C. can help you achieve your goals in the most effective and cost-efficient manner possible.
Contact The Law Office of Alexander Paykin, P.C. Today
If you wish to create a will, trust, or a comprehensive estate plan, or you need to update existing documents, The Law Office of Alexander Paykin, P.C. can help. Our experienced, knowledgeable estate planning attorneys will ensure that your estate plan aligns seamlessly with your unique goals and needs. Contact us today at 212-858-9112 for a free and confidential consultation about your case.