Estate Planning Lawyers in New York City
Ron L. Meyers & Associates, PLLC is an estate planning law firm in New York City that can assist you if you have questions about how to write a will, have questions about what should be included in your will, and want to learn more about what estate planning options might be available to you. While most estate plans will include the use of a will, modern estate planning often involves much more than just writing a will. Some estate plans may include other kinds of estate planning tools, like trusts, living wills, health care directives, and more. Estate planning involves making decisions about how your property, assets, and estate will be transferred to beneficiaries after you pass away. Every family’s situation is unique, and having a lawyer guide you through the process can help account for all moving parts, while protecting your legacy and taking your family’s needs into account.
The estate planning attorneys at Ron L. Meyers & Associates, PLLC can take the time to understand your goals. Our compassionate and caring team of estate planning lawyers can help you develop a plan that can protect your legacy for years to come, and offer you peace of mind in these uncertain times.
What Should I Include in My New York City Will?
One of the most crucial aspects of any New York City estate plan will likely involve the writing and execution of a will. Even if you plan to use a trust as part of your estate plan, a trust may not be able to account for all of your assets and a will may still be necessary to account for assets not protected in the trust. Ron L. Meyers & Associates, PLLC is an estate planning law firm in New York City that can work with you to help you create a thorough and sound will. What are some things you should include in your New York City will?
- A list of assets, property, real estate, and family heirlooms, and a list of beneficiaries (heirs) who will receive these assets.
- You should name a person you choose to be the guardian of your minor children. However, you should also speak to this person before designating him or her as a guardian because this person must agree to a be a guardian of your children.
- Consider who will care for your pets. Pets are considered property, so speaking to the people who will care for your pets after you pass away is an important piece to consider when writing your will and planning your estate.
- Name an executor. The executor of your will is the person who will be responsible for paying debts, bills, accounting for your property, and distributing your property to heirs after the will goes through probate.
Once you’ve written your will, accounted for assets, and accounted for your heirs, it is important that you properly execute your will. In order for a will to be valid, it must be signed before two witnesses. Choosing the right witnesses is important for your will to be valid. The two witnesses who watch you sign the will must not be heirs or beneficiaries; rather, they must be individuals who do not have an interest in your estate. Because there are so many details that must be considered when writing a will, having an estate planning lawyer to help you with the process can be helpful. Ron L. Meyers & Associates, PLLC is an estate planning law firm in New York City that can help you with your will and estate planning needs.
Trusts & Estate Planning in New York City
Another option that you can use for estate planning purposes is the establishment of a trust. With a trust, property is held by a trustee for beneficiaries. A trust can be revocable or irrevocable. With a revocable trust, the grantor, or creator of the trust can change the terms of the trust at any time. With an irrevocable trust, once the trust is created, it cannot be undone.
Each trust formation option has its own benefits and drawbacks and the type of trust you’ll create will depend on your needs. Some trusts can help your family avoid the probate process and some options might be able to help you with tax planning. Trusts can be more costly to establish and maintain than a will, but if you have substantial assets, have concerns about probate, or want to use a trust for tax planning purposes, Ron L. Meyers & Associates, PLLC is an estate planning law firm in New York City that may be able to assist you.
Living Will, End of Life Planning, & Estate Planning in New York City
Do you have a plan for how your finances will be managed should you become too sick to make decisions regarding your estate? Have you made clear your wishes regarding who should make medical decisions on your behalf should you become too ill to make decisions for yourself? There are various estate planning tools that you can put in place to ensure that your estate and medical decisions are managed in accordance with your wishes should you become too sick to make decisions for yourself. Living wills, powers of attorney, and trusts can help you plan your estate. Ron L. Meyers & Associates, PLLC is an estate planning law firm in New York City that can help you create a robust estate plan that takes all contingencies into account. In this time of great uncertainty due to the coronavirus pandemic, more families and individuals are putting in place estate plans that take into account these uncertainties. The estate planning attorneys at Ron L. Meyers & Associates, PLLC are here to help you with this process.
It’s Never Too Soon to Estate Plan in New York City
It is never too early to begin planning your estate. In this time of great uncertainty, many families are taking steps to make sure their wills are up-to-date and properly executed, that their trusts are properly established, and that their powers of attorney are clear and thorough. Do you have questions about estate planning? The estate planning lawyers at Ron L. Meyers & Associates, PLLC are here for you and your family in New York City. Our attorneys can review your situation, account for your estate’s needs, and help you take the next steps. Contact our estate planning law firm today to get the guidance you may need on your will, trust, and living will planning.