The Law Offices Of Roman Aminov has been providing NYC residents with award winning NY Health Care Proxy services tailored to our clients’ needs. Celebrated for extensive experience helping New York families navigate elder law and estate planning, with hundreds of heartfelt client testimonials, Roman Aminov delivers thoughtful, individualized solutions to our clients’ needs and wishes.
The purpose of estate planning is to facilitate the transfer of your assets to your beneficiaries with the least possible time and financial burden. In crafting estate plans for our clients, we recognize that our work extends far beyond assembling legal documentation—it also grants them valuable peace of mind.
Plan Your Estate
Estate planning involves arranging your affairs to ensure that your loved ones receive your assets quickly and with minimal costs and delays. When we create an estate plan for our clients, we understand that our work goes beyond simply drafting legal documents—it also provides invaluable peace of mind.
Estate planning typically includes the following key tools to help clients achieve their objectives:
- Last Will and Testament – This document enables you to name guardians for your minor children, direct how your assets should be distributed according to your wishes (rather than letting New York State laws decide), and designate a trusted person or entity to manage your estate instead of allowing the state to determine who serves in that role.
- Living Trust – This allows you to transfer assets to your beneficiaries while avoiding probate, saving your family significant time and expense by bypassing the court-supervised process required after your passing.
- Power of Attorney – This appoints an agent (often a spouse or adult child) to manage your financial affairs if you become unable to do so during your lifetime.
- Health Care Proxy – This lets you name someone to make medical decisions for you if you are incapable of making them yourself.
Estate Planning Process
We begin by exploring your family situation: Are you married? Have you been divorced? Do you have children or grandchildren? Are any children from a previous relationship? If you have no children, are your parents still living, and do you have siblings?
Next, we review your overall financial situation. Even though some assets may not pass through a will, it’s important for us to understand everything you own or have an interest in.
Once we have a clear picture of your family and assets, we discuss your wishes for how your property should be distributed after your passing. If you have minor children or grandchildren, we can explore minor’s trusts as a way to leave assets to them while ensuring responsible adults manage those funds on their behalf. We also address backup plans—what happens if a beneficiary passes away before you, and where should their share go instead?
Estate planning is a vital process with many important details to consider. Please feel free to contact us with any questions about estate planning law in Queens, Brooklyn, or New York City, or to schedule a complimentary consultation to address your individual needs.
Estate Planning FAQ
What is estate planning?
Estate planning is the process of arranging how your assets will be distributed after your passing. It typically involves creating a will, along with other legal strategies to safeguard and protect your estate.
What is an estate?
In New York, an estate encompasses everything you own, including real property (such as your home or land) and personal property (like bank accounts, investments, vehicles, and other belongings).
Why do I need to plan my estate?
Estate planning helps ensure that transferring your assets to your loved ones is as straightforward and cost-effective as possible. With thoughtful planning, you can minimize estate taxes, court costs, and attorney fees.
Do I need a will in New York?
Although New York law does not require you to have a will, there is every reason to create one. A will lets you clearly specify your wishes for how your assets should be distributed ahead of time.
Should I hire a lawyer to draft my will, or can I do it myself?
It is generally recommended to work with an experienced estate planning attorney when preparing a will. Valid wills must meet specific legal requirements, and the more substantial your estate, the more critical it becomes to plan carefully and structure your will properly.
Will my estate be taxed when it passes to my loved ones?
Yes, New York imposes its own estate tax, and there is also a federal estate tax. Without appropriate planning, asset structuring, and protective measures, the taxes and fees associated with inheritance can be substantial.
