Trusted, Comprehensive Estate Planning Counsel For Forest Hills
Thinking about estate planning can be a stressful and difficult topic. No one wants to confront death, whether it is their own or that of a loved one. Through estate planning, you can also plan for the future success of your business and protect the assets that you have worked so hard to earn.
At DeCandido & Azachi, PLLC, we understand how sensitive these issues are for you and your family. Our estate planning attorneys focus on fostering a warm, compassionate atmosphere to help you navigate these issues. We have served clients in Queens, Nassau County and throughout New York City for years, helping them get the estate planning, asset protection and business succession solutions they need in a timely manner.
Protect Your Wishes With A Customized Estate Plan
No one knows what the future has in store. One of the best ways to guard against life’s inherent uncertainty is to establish a complete estate plan. As a full-service estate planning firm, we are equipped to assist with the following matters:
- Wills: Designating your beneficiaries and passing on your assets.
- Trusts: Using revocable and irrevocable trusts to bypass probate and taxes.
- Powers of attorney: Naming someone you trust to manage your affairs if you cannot.
- Health care directives: Making a road map of your medical care if an emergency occurs.
- Living wills: Giving your loved ones the knowledge of how to handle end-of-life care.
- Charitable contributions: Supporting causes you care about after you pass on.
- Probate and administration proceedings: Guiding executors through estate administration.
We pride ourselves on the time we take to get to know every one of our clients. We listen to your concerns, understand your goals and learn about the important aspects of your life you want to safeguard. We can help you draft comprehensive, legally secure documents that protect your future wishes and better ensure your assets go to your heirs as efficiently as possible.
Assistance For The Challenges Of Guardianships
There may come a time when a loved one may no longer be able to make personal, medical or financial decisions on their own. Our knowledgeable lawyers can help you apply for guardianship over an aging parent, a minor child or an individual with special needs. When guardianship applications are contested by another relative, our seasoned litigation attorneys will advocate for your interests in court. When it comes to such a sensitive topic, you can rest assured that you can confide in our compassionate team members.
Estate Tax Planning Strategies For Those With Significant Assets
If you are an affluent individual, estate tax planning can help protect your assets from unnecessary taxation and limit inheritance taxes for your beneficiaries. With guidance from an experienced Queens estate tax planning attorney, you can take a strategic approach to the federal estate tax and gain deeper insights into the New York state tax laws.
New York estate tax planning can be a multifaceted process involving the strategic use of various estate planning tools, such as:
- Tax-deferred retirement accounts: These accounts, like traditional IRAs and 401(k)s, allow for asset growth without immediate tax obligations. Contributions are made with pretax income, potentially lowering current tax liabilities and taxes are deferred until distribution during retirement, ideally at a lower rate.
- Irrevocable life insurance trusts: You can also utilize these trusts to remove life insurance proceeds from your taxable estate, ensuring that your beneficiaries receive the full benefit of the policy without incurring estate taxes.
- GRATs: Grantor-retained annuity trusts (GRATs) are also effective estate planning tools, allowing you to transfer assets to beneficiaries while retaining an annuity payment for a specified term, potentially reducing gift and estate tax liabilities.
- LLCs: Legal entities such as Limited Liability Companies (LLCs) offer flexibility and asset protection, allowing for the transfer of ownership interests and management control while potentially reducing estate tax exposure through strategic gifting and valuation discounts.
- QPRTs: Your tax lawyer may also recommend Qualified Personal Residence Trusts (QPRTs), which enable you to transfer your primary or secondary residence to beneficiaries at a reduced gift tax value, potentially minimizing estate tax liabilities while retaining the right to reside in the property for a specified term.
When planning your estate, it is important to seek legal guidance from a Queens estate planning lawyer proficient in both New York estate planning and business tax laws to obtain comprehensive protection of your assets and compliance with relevant regulations.
Secure Your Business Legacy With Skillful Estate Planning
We understand the unique challenges business owners face when planning for the future. Our approach to estate planning is both personal and strategic, designed to help your business thrive for generations. Our business succession attorneys, steeped in the complexities of estate planning law, stand ready to safeguard your life’s work. We guide you through every step, from structuring your business assets to designing a succession plan that aligns with your vision. Our goal is to make sure that your wealth and the business you’ve built are protected. Let us help you create a plan that secures your entrepreneurial spirit and serves your family’s needs well into the future.
Schedule A Free Initial Meeting With An Estate Planning Lawyer
Our team is ready to work diligently on your behalf. Contact our Forest Hills office to schedule a no-cost meeting by calling 718-690-7715 or by using our online contact form.