Estate Planning in Long Island | Suffolk | Nassau | New York

Everyone has an estate. Your estate is composed of any assets that you own on the date of your death including your car, bank accounts, real estate, stock portfolios, and any other assets you have accumulated ownership of over your lifetime. Taking the time to prepare a plan for your estate and disability, should it occur, allows you to control what happens to your assets after your death and to put someone in place to help make financial or medical decisions if you become incapacitated.

Estate Planning in New York

Planning for your estate involves not only determining who will receive your assets and in what proportion but also how to minimize legal fees, estate and capital gains taxes, and costs. Failing to create an estate plan can result in an intestate estate, which means that your assets will be distributed at death based on state law. Rather than allowing New York law to determine who will inherit your hard-earned possessions, consult with an estate planner who is also certified in New York Elder Law to implement your decisions regarding your property.

At Makofsky Valente Law Group, P.C., our attorneys can assist you in creating a last will and testament as well as establishing trusts that can benefit you or your heirs during your lifetime and even after your death.

For more information on estate planning, visit the Estate Planning FAQ page.

Planning for Disability

Disability planning involves putting a plan in place that allows someone to make financial decisions for you if you cannot make your own financial decisions. A disability plan also includes appointing someone to make health care decisions for you if you cannot make your own decisions. In addition, a disability plan includes executing a plan for paying for long-term care. These plans include not only preferences on the type and location of care (i.e. at home vs an assisted living center or a nursing home) but also how to pay for this service (i.e. private pay, Medicare or Medicaid, or long-term care insurance).

Planning for long term care requires detailed knowledge of the law and rules of eligibility for benefits, all of which the New York elder care attorneys are versed in at Makofsky Valente Law Group, P.C. Our attorneys can supply you with an estate and disability planning checklist to guide you through the intricacies of disability laws in New York. For further information on disability planning, please refer to our Disability Planning FAQ page.

For more information regarding estate and disability planning, click on one of the following topics below:

• Wills vs. Trusts
• Revocable and Irrevocable Trusts
• Tax Planning
• Retirement Trusts
• Estate Planning FAQs
• Special Needs Planning
• Power of Attorney
• Health Care Proxies
• Disability Planning FAQs

To discuss estate and disability planning with an Elder Law attorney, schedule an appointment with a lawyer at Makofsky Valente Law Group, P.C. by calling (516) 228-6522 or by contacting us online.

 
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