For estate planning purposes, will, trusts, and some other mechanisms are used to achieve the result that fits your objectives best. Brooklyn estate planning attorney Leonid Mikityanskiy can help you through this difficult process and develop an estate plan tailored to your individual goals and needs.
To determine whether you can benefit from estate planning, ask yourself several simple questions. Are you married? Is this a second marriage? Do you have minor children? Do you have grandchildren for whose education and support you want to provide? Do you own your home? Do you have retirement accounts such as 401K plans or Roth IRA? Do you want your loved ones to pay the least amount of taxes, court costs, and other fees as possible? If you answered yes to any one of these questions, proper estate planning can help you navigate these difficult and complicated issues.
Trusts And Estates:
The Law Offices of Leo Mikityanskiy provides the following estate planning services in Brooklyn, New York:
- Developing an estate plan tailored to your individual goals.
- Drafting and executing trust documents:
- All types of revocable and irrevocable trusts including living trusts and testamentary trusts;
- Trusts that hold subchapter-S corporation stock, LLC or partnership interests;
- Bypass Trusts;
- Qualified Terminable Interest Property (QTIP) Trusts;
- Irrevocable Life Insurance Trusts (ILIT);
- Gift trusts, including Crummey Trusts;
- Charitable trusts;
- Estate tax and income tax advantage trusts;
- Medicaid planning trusts;
- Special Needs Trusts for people receiving disability benefits such as SSI and/or Medicaid;
- Support trusts for named beneficiaries, including second spouses, and discretionary trusts.
- Trusts for asset protection from creditors, divorces and lawsuits.
- Trust and estate counseling and administration.
- Disability and Medicaid Planning.
- Drafting and executing Wills that reflect your intent to distribute your wealth and property or to appoint guardians for your minor children;
- Separate and Joint Wills;
- Probating a Will and Estate Administration;
- Powers of Attorney and Advance Health Care directives;
- Inheritance issues and disputes over estates of people who died without a will;
- Estate Litigation and Will contests.
Estate Planning Process
- Initial informational and planning meeting. During the meeting, we will discuss your personal objectives, family composition and financial affairs, as well as income, gift and estate taxes, step-up costs basis of property, and capital gains taxes on sales of property.
- Developing the Estate Plan. After the initial meeting, we will begin preparing the estate planning documents, which may include a Will, one or more trusts, powers of attorney and health care directives.
- Follow ups. We will follow up with you if we have questions or issues that come up during the development of your individualized estate plan.
- Review meeting. Once the estate planning documents are prepared, we will review all of the documents with you to ensure they adequately reflect all of your goals. This may take a significant amount of time because appropriate estate planning is a complicated and involved process. This is when we will address all of your questions with respect to the estate planning documents.
- Signing of the Estate Planning documents. Once all of the issues are addressed, your estate planning documents will be properly executed under the supervision of an attorney.
- A good estate planning package will include a combination of the following documents
- A Will;
- A Trust (if needed);
- A Power of Attorney—if you do not have a simple Power of Attorney, a lengthy and expensive Guardianship process is required in court;
- Health Care Directives: Living Will or Health Care Power of Attorney;
- Business succession planning documents;
- Discussion of beneficiary designations for pension plans and life insurances policies.
A complete estate planning package such as this will ensure that your wishes are respected and your family and financial goals are met.
The Law Offices of Leo Mikityanskiy, P.C. represents clients in Brooklyn, NY. If you are looking for a professional estate planning lawyer, please contact attorney Leonid Mikityanskiy today at (718) 256-3210.
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