Estate Planning New York Lawyers
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Trusts & Estate
“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.”
We have years of experience planning for entrepreneurs, medical professionals, scientists, business and real estate owners, artists and multi-generation families.
Our attorneys stay informed with the latest updates to the tax and transfer laws and regulations participate in shaping local legislature and analyze latest planning strategies and trends in business planning.
We understand the importance of effective communication with our clients. We keep you informed, and we work closely with your family and business to follow the latest trends in estate planning and are able to take advantage of the latest tax developments. We work closely with your advisors to make sure that your estate plan is integrated with your business and retirement goals. We use cutting edge technology to be available to you 24/7.
BEST ESTATE PLANNING LAWYER IN NEW YORK
Our firm provides full estate planning service to New York families and businesses by focusing 100% of our practice on trusts, estates and administration law. We offer drafting of Wills, Trusts, simple and complex estate plans, business infrastructure plans, business succession plans and we keep you informed with respect to your estate planning choices and options in New York.
What our Law Firm offers:
At Schwartsman Law Group PLLC we work hard to provide our clients with the best trusts and estates representation in New York. We focus on estate planning and administration services, as well as business planning and business succession representation. Whether you need a simple estate plan, help creating infrastructure for your business, looking for an effective and flexible business succession plan, or need a sophisticated estate planning, we can help you with every step of the way. We want to partner with you and your advisors today and long into the future to help ensure that your planning evolves with you, your family and your business.
Practices
We’re leaders in providing unique and personalized approach to addressing estate planning needs of individuals and families.
Wills & Trusts
Estate planning is a process that should ideally start when you are still fairly young and continue throughout your life. For most people, the first step is having a simple Last Will and Testament put in place, and then from there, add additional options over time. As your estate grows and evolves with you and your family, you will need to have trusts in place to help avoid probate, ensure privacy, prevent contest, protect your assets, minimize expenses, and minimize/defer death tax exposure. Learn more about Wills and trusts to see what type of testamentary planning you may benefit you and your family.
Estate Planning
Estate planning is an analytic exercise that starts with a review of your assets, family situation, business, and liability exposure. Everyone needs estate planning and it does not have to be complex. Estate planning is a process that has an end result – you are left with a set of structures, which are documents in written form, which will either come to effect immediately (lifetime planning) or will come to effect when you pass away (testamentary planning)or become incapacitated (disability/incapacity planning). The written form can be as easy as a Will, health care proxy, power of attorney, living will and designation of agent to control disposition of remains.
Probate
Probate is a process which validates and pronounces Last Will and Testament of Individual as valid and effective for purposes of estate administration and asset distribution.
If you have had a loved one pass away recently, you may have found that their Will has to pass through probate court before debts of the decedent ?may be paid and the remaining assets of the decedent may be distributed to the beneficiaries. Depending on the size and complexity of the estate itself, this process can take anywhere from few weeks to several years. If you are a beneficiary of the estate, or involved in it in any other way, it is important to understand what to expect and to have the help you need.
Estate Administration
If you have been named as the executor, administrator or a trustee you will have a number of important responsibilities. A fiduciary named under a Will to administer an estate, administrator, is often called the executor or personal representative, so you may hear these terms used interchangeably. While you can certainly act as executor on your own, you may run into various risks involving personal responsibility if you are unfamiliar with the fiduciary laws in the State of New York. That is why many appointed executors or trustees prefer to have an attorney at their side to ensure everything is taken care of properly. For now, learn more about probate administration and how to proceed.
Estate Litigation
If you have had a loved one pass away, the property and any debts that they leave behind need to be settled. Ideally, they will have an up to date estate plan in place, which will allow everything to be handled quickly, and with very little difficulty. Unfortunately, in many situations because of lack of experience or simple ignorance, the estate or trust may be mishandled by the fiduciary (executor or trustee), assets may have been wasted or distributed incorrectly and taxes may have been allocated without proper tax allocation basis. If you are a disinherited surviving spouse, you may also have claim against the estate. If you believe that distributions came out of the trust not in the best interests of the beneficiaries or not as the trust proscribes, you may have a cause of action against the fiduciary.
Estates & Trusts Taxes
Estate & Trust Taxes
If you are the executor of an estate, you will have quite a few responsibilities that you need to take very seriously. One of the most important of these is making sure the taxes are paid on time, and in full, for everything you are responsible for. Estate taxes may be deferred in whole or in part and it will be your responsibility to make sure that you make all the right elections timely (this is especially true for an estate that is highly illiquid, i.e. holds assets other than cash or marketable securities). You need to analyze how taxes are going to be allocated among the beneficiaries and how funds are going to be raised to pay taxes.
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We are ready to help you with all your estate planning and business legal needs. Our team service clients throughout Brooklyn, Staten Island, Queens, Manhattan, Bronx, Nassau County, and Suffolk County. If you need help, please don’t hesitate to contact us right away.
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Wall St, New York, NY 10005, United States
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