Life Estate Deed: Pitfalls and Considerations - Makofsky & Associates, P.C.

Life Estate Deed: Pitfalls and Considerations

Deidre M. Baker    Nassau Lawyer, Vol 69 No. 7    “Life Estate Deed: Pitfalls and Considerations”    March 2020

Clients commonly seek the advice of an elder law attorney so that they can protect and preserve their assets for their loved ones. Often, a client’s largest asset is his or her home. There are a variety of estate planning tools available to accomplish the client’s goal of protecting his or her home while ensuring that it is left to his or her loved ones. One such tool is a life estate deed. Although a life estate deed has its benefits, the attorney must also consider its drawbacks in relation to the client’s personal circumstances before determining if it is the best plan for the client.

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LOCATED IN GARDEN CITY, NEW YORK, MAKOFSKY LAW GROUP, P.C. (formerly Makofsky & Associates, P.C. formerly Raskin & Makofsky, LLP) HAS SERVED CLIENTS IN AREAS INCLUDING LONG ISLAND, NEW YORK CITY, MANHATTAN, QUEENS, BROOKLYN, BRONX, WHITE PLAINS, MINEOLA, HEMPSTEAD, LEVITTOWN, MASSAPEQUA, BETHPAGE, SYOSSET, OYSTER BAY, GLEN COVE, PORT WASHINGTON, MANHASSET, GREAT NECK, WOODMERE, VALLEY STREAM, ELMONT, FLORAL PARK, FLUSHING, KEW GARDENS AND FOREST HILLS, NEW HYDE PARK, EAST MEADOW, PLAINVIEW, Merrick, Westbury, Long Beach, Oceanside, Franklin Square, Huntington and Rockville Centre.

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