Estate Lawyer NY
Estate planning can be an arduous process full of involvement. What makes the matter somewhat difficult is understanding the taxable impact of your estate planning strategy along with the research of all the available financial vehicles involved that can be used to protect your assets. A simple solution to approaching your financial affairs is hiring an estate planning lawyer in NY. Kamilla Mishiyeva, Esq., is the founder of Mishiyeva Law, PLLC., and is prepared to assist you with your estate needs in New York City. Located in the financial center of New York, she provides her legal services to individuals, families, and business entities, which includes asset protection, trust and will drafting, probate proceedings, administration, estate litigation, elder law and guardianship appointment.
Careful Planning is Required
When sitting down with your family to discuss the distribution of assets, it can result in an uncomfortable situation. The involvement of a lawyer can certainly ease the tension and put issues into perspective for all of the family members involved. An estate lawyer can provide an objective vantage point that can properly guide you in making an intelligent and conservative decision for the sake of your family. Among other services, an estate lawyer in NY can :
- Identify all existing liabilities and taxes that may affect your estate. We can properly estimate the tax liability at the time of your passing.
- Attend Surrogate’s Court in order to file a will and petition for the appointment of a representative of the estate who is otherwise known as an executor or the administrator if the deceased died without a will.
- Work closely with the executor in managing all assets under the estate and distributing the appropriate funds as specified in the will to the named beneficiaries.
- Attend all court proceedings in the event an heir to the estate decides to contest the will or pursue other court proceedings. Litigation can quickly become time consuming.
The Complexity of Estate Law
What makes estate law so complex? There are several steps involved throughout the entire estate planning and estate administration/ probate process. During the life of an individual, one should seriously consider equipping themselves with a trust or a will. Both estate planning vehicles work differently from one another and both have their advantages and disadvantages. Typically, if you want to avoid the probate process you would want to opt for a trust. If your martial and living situation is not complicated and you do not foresee any will contests or disputes between family members upon your death, a simple will could be sufficient for your needs. When a will is in place, there is a possibility an individual, be it a family member or an interested party, may decide to contest the will by stating that either the will was procured under fraudulent means or the decedent was coerced and unduly influenced when they executed the will. Be sure to plan ahead and take great measure in always ensuring that you have several witnesses who can attest to the creation of the will and the mental capacity of the testator. Also, be sure to get this very important document formalized, drafted, and reviewed by an estate lawyer in NY. Although this may be somewhat unorthodox, take out your smart phone and record yourself reading through your own will. This could be used as evidence in the event that someone attempts to use the law against your final wishes and your intended beneficiaries.
To commence an estate, an executor or an administrator must be appointed. The executor is typically identified in the individuals Last Will and Testament. If you are the named executor in the will or want to be appointed as the administrator, you should consider having an estate lawyer by your side to guide you through all of the various steps during the probate or administration of an estate. You have a fiduciary duty to act in the best interest of the beneficiaries. Your job involves but is not limited to:
- Finding the decedents property, including real property and personal property of significant value to be included in their estate;
- Contacting the individuals identified in the Last Will and Testament of the decedent who have been named to inherit property;
- Ensuring that the will and all legal documents are properly filed with Surrogate’s Court;
- Continuously making the required on going payments of the estate (maintenance fees, mortgage, real estate taxes, income taxes, upkeep of the property, etc.);
- Making sure property is properly distributed to the beneficiaries and all debts are paid off to the creditors.
Do not fret or be concerned with all of the work you have to do as an executor. When you have the right legal representation by your side, you have a partner ready to attend to all matters specified above in order to guide you correctly.
Contact The Right Estate Lawyer in NY
Our firm is always available to answer any estate questions and properly handle all estate cases within Brooklyn, Queens, Manhattan, Bronx, Staten Island, Long Island, and all surrounding counties. Take a second to read some of our guides on what a living trust is, knowing if someone has a will, and what the qualities of a good estate planning lawyer are. Should you have any questions or concerns, we have offices in Downtown Manhattan and Brooklyn. You can also visit our social media accounts today for more information. Follow us on Twitter, LinkedIn, and Facebook.
We take pleasure in guiding you and providing a free consultation in order to learn more about your case. We will quickly advise your if the matter has merit and provide clear instructions as to how we can assist you in the matter. Our priority is to provide you with a peace of mind, and legal support like no other firm in NYC. Feel free to give us a call or email the founder of Mishiyeva Law at email@example.com. Call us today to set up a free consultation. Our number is (646) 535-1667. We look forward to hearing from you.