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Protect Your Wealth While Planning for the Future
Great Neck is an area on Long Island that covers a peninsula on the North Shore of Long Island; it includes the villages of Great Neck, Great Neck Estates, Great Neck Plaza and others, as well as a section near Lake Success and the area bordering Queens. While the incorporated village of Great Neck had nearly 10,000 residents as of the 2010 census, the larger Great Neck area has a residential community with approximately 50,000 residents in nine villages and hamlets in North Hampstead.
Are you contemplating creating an estate plan? An estate plan goes far beyond writing a will, for it involves a number of important documents, any of which may include advance directives for health care, a durable power of attorney, a kids protection plan, wills, revocable living trusts, irrevocable trusts, special needs trusts and other documents.
Planning involves not only distributing your assets upon your death, but preserving your assets while you're alive as well. Unless you put a plan into effect, you will have no control over how your assets are distributed when you die. Instead, your assets will be distributed according to state law, and with today's blended families and multiple marriages, there's a good chance that the state's distribution of your assets will not reflect your wishes or your family's dynamics.
Through an estate plan, you can appoint a guardian for your minor children instead of them going into the foster care system, even while family members fight for custody. You can appoint someone that you trust to manage your finances and your health care decisions if you become ill or incapacitated, and you can bequeath assets to close friends, distant relatives, charitable organizations, your church, or even perfect strangers if you wish. However, without an estate plan, this is not possible.
Contact the Adler Law today for the personalized service you deserve!
Probate & Administration in Great Neck
The other side of estate law involves probate, administration and trust administration. The personal representative (executor, administrator, and trustee) has a large responsibility on their shoulders: this is called a fiduciary duty. They have the highest duty to act in the best interests of the estate and in the best interests in the beneficiaries.
At Adler Law, our Great Neck probate lawyer has over 30 years of experience representing clients with estate administration. We understand the laws and we know what types of personal liabilities you face, and are here to offer you guidance and skilled advice during this time.
Since a variety of concerns are addressed in estate planning and probate, our firm represents clients with business law, family law, and real estate matters. We find that our well-rounded knowledge of the law allows us to be even more proactive when it comes to representing our clients' best interests with their legal proceedings.
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