Estate Planning Services

DSF7803-web-senior and childPlanning for death is not an easy topic to discuss. Add the subject of money and the conversation becomes even more difficult. Effective estate planning, however, can give you peace of mind. You will be able to live your senior years as you envision, while knowing that your assets will pass to the next generation in the way you intend.

A Will Is Not Enough to Ensure Your Wishes Are Carried Out

Estate planning is important to ensure that your heirs receive the inheritance you intend for them, to minimize taxes on assets, and to ensure that your wishes are carried out after your death. Many people mistakenly believe that having a basic Last Will and Testament is all that is necessary to achieve these objectives. Proper estate planning encompasses much more.

First, a Thorough Review

Effective estate planning includes reviewing all of your assets to determine what you have and how ownership is structured for each, deciding what you would like to have happen to those assets in the event of your death, and then executing the proper legal documents so that assets transfer as you wish. We ensure that your intentions with respect to any beneficiaries you have designated on assets such as retirement plans or insurance policies are coordinated with your financial advisor and/or accountant to ensure all facets of your financial situation are included in the plan.

Coordinate Your Assets and Documents

We create or update the necessary legal documents to ensure a smooth transition after your death without conflict or court involvement, if that is your wish. In addition, we make sure that you have designated and updated your Healthcare Proxy/Living Will to ensure that you receive the type of health care you want should you not be able to speak for yourself. A New York State Power of Attorney will allow your bills and other financial obligations to be paid if you ever become incapacitated. In addition, your attorney-in-fact may be able to continue to plan on your behalf, with our advice, should you be unable to complete necessary transactions yourself.

The Experience and Expertise for a Comprehensive Plan

At PBM, we also have the experience and expertise to help you use various legal and financial tools such as Trusts or property transfers, to help you create a comprehensive estate plan. Whether your estate is large or small, the worst plan is no plan at all. By asking the right questions, PBM attorneys can help you decide and design, in advance, the life you want to live as you age.

You have spent a lifetime building your wealth. With careful and prudent planning, PBM Elder Law can help you ensure a smooth transition after your death, significantly reduce unnecessary taxes and care costs, and replace potential family conflicts and stress with peace of mind.