You have reached a point in your life where you know you need to take steps to protect everything you have earned and preserve it for your beneficiaries. Perhaps you just got married or had children. Perhaps you recently retired. Perhaps a loved one is ill or in need of long-term care. Whatever the case may be, you want to create an estate plan that will allow your assets to easily pass onto your loved ones while minimizing taxes and other expenses.
At Daniels, Porco & Lusardi, LLP, in New York’s Hudson Valley, our lawyers provide customized estate planning services. We do not offer ready-made, prepackaged estate plans, because no two estates are the same and no two people have the same goals. Instead, we take time to review your assets and learn about how you would like them to pass on. With that information, we will design an estate plan with nothing less and nothing more than what you need to accomplish your goals.
Wills are the foundation of estate planning. However, they are not the only tool in our estate planning toolbox. In fact, wills have limitations. While they may be sufficient for some people, most will require other components to ensure successful estate planning.
We frequently recommend the creation of powers of attorney, living wills or health care proxies. These tools address how you will be cared for and how your affairs will be addressed in case of an incapacitating illness or injury. You can dictate the type of medical treatment you receive and who will make medical and financial decisions on your behalf.
Depending on how you want your assets distributed after death, we may also recommend the creation of a revocable trust (living trust) or an irrevocable trust. Trusts offer more flexibility than stand-alone wills and can provide unique protections against probate and estate taxes that might threaten your assets.
In addition to offering estate planning services for all ages, we offer elder law services. This includes Medicare and Medicaid planning, nursing home planning and more. We work with elderly clients and their children to create strategies to protect finances and to help secure comfortable living conditions and trusted medical care during the later years.
Our lawyers are happy to answer your questions and alleviate any concerns you may have about drafting a will or creating an estate plan. Call our Pawling office at 845-350-2837 or our Carmel office at 845-228-8041. You can also contact us by email.