Estate Planning & Administration

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    It is never too early to begin planning for your family’s future.

    Planning ahead can make the process of-administering your estate much more efficient and eliminate unnecessary challenges. At our Warwick, New York, law firm, we will help you achieve your goals.

    Stage & Nathans provides legal representation in the area of estate planning, estate administration and elder law. Our elder law practice includes both emergency and long-range planning.

    Estate Planning and Administration (Stage & Nathans)

    Planning Ahead for the Future

    While planning ahead for the future can often times seem difficult, it is an important step to take. Planning ahead with a Will or Trust (or combination of the two) will ensure that your assets are distributed according to your agenda in the event of your passing. Our Warwick estate planning attorneys can assist you in establishing:

    • Revocable lifetime trusts
    • Irrevocable family trusts
    • Testamentary trusts
    • Power of attorneys
    • Health care proxies
    • Living wills

    We go into great detail explaining the purpose of certain planning mechanisms and make certain you have the information that you need to make a smart decision for you and your family’s future. Our lawyers will help explain the importance of having a Will and make certain that your assets are distributed according to your agenda. Our attorneys also discuss how estate tax and income tax (both personal and fiduciary) affect your estate planning. Our attorneys are supported by Janet Heller, who has significant experience as a paralegal. She and the lawyers at the firm will take initiative and handle the majority of the paperwork, filing and other documentation once you have made a decision about matters. We will take care of things so you can focus on your own well-being.

    Estate Administration

    After the passing of a loved one, our firm can assist with the probate and estate administration process. We work to make this process as seamless as possible for all parties involved. We will work with creditors, complete asset transfers and assist with all other administrative matters. We also will discuss possible federal and New York state taxation and how it will affect your estate plan.

    While we aim to avoid challenges and complications, some matters cannot be settled without litigation. If your situation cannot be settled with negotiations, our attorneys are prepared to work with experience litigation attorneys. We work with experienced courtroom lawyers who understand how to take a strategic approach to resolving complex issues.

    Contact Our Orange County Estate Administration Attorneys

    Learn about your legal options for estate planning by working with the lawyers at our firm. To schedule a consultation, please contact us at 845-986-1136 (or fill out the form below). We will work to reach a resolution that is in your best interests, regardless of the complexity of your situation.

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    If I do not do a Will, will the State of New York get all of my money?

    Answer:  No

    The State of New York has Intestacy laws, which assume what you would want if you were to die without a Will.  In general it would go to family members unless you had a very small family.  The extent of the law is first cousin once removed (your first cousin’s child).  If you have no relative closer than that the money will go to the State of New York.

    If I die without a Will who will be appointed to raise my children?

    Answer:

    If your child’s other parent is alive he/she has a first priority to be the guardian to raise the child.  However, if you do not have a Will and there is no surviving parent, both sides of the family could contest the child’s guardianship.

    Will my family have to pay tax on money they receive from my estate?

    Answer:  No. 

    Unless it is tax deferred money such an IRA, 401K or Keogh Plan, which you did not pay taxes on previously during your life.

    When do estate taxes come into play in the State of New York?

    Answer:

    There are no Estate taxes with a married couple after the first person dies.
    New York has just recently passed new legislation allowing each spouse to leave just over $2 million to their children without any estate taxation. This amount is scheduled to go up to $5 million over the next three years.

    When should I start my estate planning?

    Answer:  Now. 

    Unfortunately you never know when an accident or illness will affect us and without proper estate planning your wishes may not be carried out if you were to die unexpectedly.

    Take the first steps to planning your Estate.  Contact Us.  Fill out the form below and we will get in contact with you within 24 hours.

     

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