FOCUSED ON CLIENT SERVICE & PERSONAL RELATIONSHIPS
Estate planning is the process of ensuring one's plan is set forth and individuals are appointed to carry out the plan when necessary. This includes planning for incapacity or death by setting up the transition of assets in the most efficient manner to minimize the expense of long term care or estate taxes. LONG TERM CARE & MEDICAID PLANNING
As our population continues to age, the need for medical services grows. This may include aides in the home, assisted living facilities or nursing home care. However, the cost of this type of care is growing faster than the need for it. ESTATE TAX PLANNING
Individuals work their entire lives to build financial security for themselves and eventually to pass wealth on to heirs. New York State and the federal government have estate tax systems that discourage large transfers of wealth as a means to force the redistribution of assets. But families need not lose substantial assets to taxes. BUSINESS SUCCESSION PLANNING
As part of the estate plan, business owners have to effectively transition the business, including choosing successors, ensuring fair value on a business sale, minimizing estate taxes and equalizing distributions to family members not in the business. ESTATE ADMINISTRATION
The loss of a loved one can be a devastating time. Life changes substantially. And the legal and formal complexities can be overwhelming. The steps of Estate Administration may include collecting assets, paying debts and expenses, filing tax returns, and filing formal documents with the Surrogate's Court.