Lifetime planning and estate administration are connected but distinct stages
Estate planning should reflect family structure, asset ownership, beneficiary designations, health-care wishes and care needs. After a death, probate of a will or administration of an intestate estate may be required in Surrogate’s Court. The same document label does not mean the same plan fits every family.
Matters we can assess and address
- Wills and asset-transfer planning
- Financial powers of attorney, health-care proxies and advance directives
- Trusts, beneficiary designations and coordination of asset ownership
- Planning for family members, minor children or special care needs
- Probate, intestate administration and small-estate procedures
- Duties of executors or administrators, creditor issues and distributions
- Legal planning involving elder rights, capacity and long-term care
Helpful documents for a consultation
List family members, assets and approximate values, how title is held, insurance and retirement beneficiaries, existing wills or trusts, debts and important contacts. Identify out-of-state or cross-border assets, non-U.S. citizen family members and business interests.
Important now
An estate plan can involve income, estate and gift tax issues as well as public-benefit eligibility. Legal documents should be coordinated with tax and financial planning and reviewed after major changes in marriage, assets, health or state of residence.
Planning a family trust
For revocable and irrevocable trusts, property funding, children and cross-border considerations, see family trusts, wills and wealth transfer.