Serving Garden City, Long Island, and Queens, New York
Have you made plans for how your family will be provided for in the event that you die unexpectedly? If you are approaching retirement age, have you clearly established how your assets will be distributed amongst your heirs? While no one likes to think about these types of issues, it’s important that you have a solid plan in place to ensure your loved ones are provided for when you’re gone.
Les Martin has been assisting individuals in the Long Island area with the preparation, execution and administration of estate planning documents for 45 years. He can help you make all the necessary arrangements to ensure that your wishes will be clearly spelled out and your intended beneficiaries will receive their proper inheritance.
The best way to initiate the estate planning process is to speak with Mr. Martin in person. Please call 516-222-0900 today to schedule a consultation at our Garden City law office.
Estate Planning Services
Mr. Martin offers the following estate planning services to individuals in the Long Island and Queens areas:
- Wills and trusts
- Living wills/advance medical directives
- Powers of attorney
- Probate and estate administration
Do I Need a Will?
A will is a legal document that establishes the terms with which your estate will be distributed to your heirs after you die. It’s an easy and effective way to ensure a smooth transition of your assets to your loved ones, and it can help you avoid the costly taxes and fees charged by the court when you die without a will.
You can make the following arrangements as part of your will:
- How specific property and assets will be distributed amongst your heirs
- Who will be responsible for handling the distribution of your assets
- Who will be responsible for taking care of dependent children
- Charitable gifts
- The creation of posthumous trusts
Whether you have a large estate or possess few assets, it’s important to have a will. It is the only way you can maintain control over who receives your assets and property. It is especially important to have a will if you:
- Have dependent children
- Do not have a surviving spouse
- Would like your assets to be given to individuals or organizations other than your relatives
A revocable living trust allows you to control how your assets are managed and used while you are still alive. These trusts also allow you to dictate who will manage these assets in the event that you become incapacitated and after your death.
Creating a revocable living trust offers you the following benefits:
- Minimize or potentially eliminate estate taxes when you die
- Provide a contingency plan in the event that you become incapacitated and can no longer manage your assets without assistance
- Avoid the costly, time-consuming probate process
- Provide your loved ones with immediate access to your assets after you die
- Prevent financially immature heirs from gaining access to their inheritance before they are responsible enough to manage these assets
- Protect your loved ones’ inheritance from creditors, lawsuit judgements, bankruptcy, and divorcing spouses
A living will, also called an advance medical directive, is a legal document that lets you make your wishes known for your desired end-of-life medical treatment in the event that you are no longer able to communicate these wishes personally. Without a living will, your doctors and loved ones will have to guess what your preferences are regarding treatment, and this often results in painful disputes between family members with differing opinions on your medical care.
Powers of Attorney
Powers of attorney are legal documents that allow you to choose the person who will make decisions on your behalf in the event that you become incapacitated and are no longer able to make these decisions yourself. You can give another person power of attorney to handle your:
- Business dealings
- Financial affairs
- Medical care (also called a living will or advance medical directive)
- Real estate transactions
Probate and Estate Administration
Mr. Martin can assist you with every aspect of the probate process, guiding executors and beneficiaries of your estate through this complex process. This assistance can include:
- Collecting, managing, valuing, protecting, and liquidating the assets in your estate
- Arranging for any accountants, financial advisors, real estate agents, property managers, and other professionals needed to assist the executor with his or her duties
- Resolve probate disputes between beneficiaries
Please contact Les Martin, Attorney at Law today to schedule an estate planning consultation. Mr. Martin serves clients in Nassau, Suffolk and Queens Counties, and all of New York City.