Wills and Probate: Multi-Generational Planning is Optimal

Regardless of whether you live in Manhattan, Miami, or Westchester County, a probate lawyer may one day be involved in your personal financial affairs. This is because with or without a will, most estates are subject to probate. What is most beneficial to both you and your survivors is that you engage in the process sooner rather than later. If you need help with wills and probate in New York, Cormac McEnery has the knowledge and experience you need on your side.

Are you at a life stage when it would make sense to hire a New York or Westchester County probate attorney? If you are young, married, and have minor children, you need to consider the welfare of your family in the case of your untimely demise. If you are in advanced years, you should address both the transfer of your assets to future generations as well as your own well-being (through a living will and healthcare proxy, and durable power of attorney). Perhaps you are on a second marriage with blended families, or you are single with no clear heirs. In each case, you need the legal protections and rights that come with trust and estate planning.

Key provisions of wills and multi-generational planning

Overall, estate planning allows the individual to employ several protections that are provided for under New York State laws for the transfer of both wealth and responsibilities. Such protections include:

• Distribution of property according to your intentions. Life experience allows us to assess where and how assets can be most effectively used. If an automatic heir by the rules of an intestate situation (when there is no will) would be irresponsible, possibly even destructive, after receiving an inheritance, you can manage the will to either grant money in small increments or not at all. At the same time, individuals and non-profits that you consider deserving can be provided for through estate planning.
• Ensure proper guardianship of dependents. If you have minor children, or dependent adults with special needs, you likely are concerned about their well-being in the future. A well-crafted estate plan can cover not only the transfer of assets to them, but how the assets are managed and by whom, while also designating their caregivers.
• Simplifies the probate process for survivors. Under interstate conditions, the costs for probate tend to be higher. There also arises the opportunity for conflict among potential heirs, incurring greater costs to them along with family discord.
• Can reduce tax burden and loss. Truly effective planning can begin the process of wealth transfer in such a way as to reduce the tax burden on both the benefactor and beneficiary.

In virtually every respect, a wills and probate lawyer can ensure a smoother, optimal wealth transfer for the individual and his or her heirs.

Dedicated assistance for wills and probate in Westchester County and the Bronx

At the Cormac McEnery Law Firm, our experienced team serves clients from New York City (Manhattan, Bronx, Brooklyn, Queens), Westchester County, Nassau County, and Suffolk County.  We have three convenient office in New York, and are available to help you today. To set up a free consultation, contact Cormac McEnery online or at 1-888-368-4329.