Many seniors know that they need to get in touch with a New York elder law attorney to help update and handle matters related to their estate. Yet much of the actual work that those lawyers do is shrouded in mystery to the average community member. Some believe that it all has to do with filling in the blanks of certain legal forms. That often leads to the assumption that all elder law attorneys are capable of doing essentially the same quality of work. Nothing could be further from the truth.
It is imperative that all planners ensure that they work with experienced New York estate planning lawyers to avoid common pitfalls in the process. Only the best practitioners in this area are aware of all options available to a client to best protect their assets and ensure that their wishes are carried out. The law changes often at both the federal and state level–it is your attorney’s job to know those changes and advise you on its potential impact on your situation.
Besides keeping abreast of updates in the law, your attorney must also have the practical skills to explain to you how certain future events may affect the estate. Careful planning and strategizing is important in these matters. For example, there may be no easy answers when it comes to how many assets to place in a wife’s name or trust to offset a husband’s IRA assets. There is a tendency among some attorneys to place too many assets with a wife, while ignoring the practical reality that the husband’s life expectancy is lower. This mistake may then results in no estate tax savings. Only the most experienced attorneys would be capable of understanding these possibilities and ensuring that you have all the options on the table when making your plan.
When it comes to lawyers with a track record of solid results, there is no better option to entrust your New York estate planning than attorneys at the Ettinger Law Firm. Ensure that your affairs are in good hands and contact our New York elder law estate planning firm today.
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