Experienced Estate Planning Attorneys in Staten Island
Keep your assets in the family
Without knowing it, many heirs end up giving their deceased loved one’s hard-earned money to a charity called The Government—which has already received its fair share. However, this does not have to happen. If you live in the New York City area, you have the advantage of access to Armstrong & Lamberti, PLLC in Staten Island, where estate planning law is the focus of their legal practice. By working with the experienced estate planning attorneys at the firm to craft a proper and professionally structured estate plan, you can empower your heirs to avoid paying up to 45 percent in estate taxes and using their inheritance to cover your long term care costs.
Inaction increases risk
If you do not take the time to plan with a will or trust, you and your family risk substantial losses. Without a will or trust, New York State law will determine how your assets will be distributed and to whom. The value of your estate may suffer losses from estate taxes. Irresponsible relatives you would never have named as executors, and possibly beneficiaries you do not even know, may control your estate and squander your inheritance.
Protect your assets with proven strategies and solutions
Take the time now to plan your asset protection by will or trust. Learn about the applications of estate planning laws in Staten Island and New York State and develop solid solutions aided by the most experienced Staten Island firm dedicated solely to estate planning, elder law, Medicaid planning, and estate administration.
In a free consultation with the Staten Island estate planning attorneys of Armstrong & Lamberti, PLLC , you can learn about:
Proper asset distribution
- The procedure for making a will
- Protecting your assets from distribution by state law
- Placing control of bequests to your children and not their spouses
- Preventing challenges to the will
- Contractual wills in first and second marriages
- Legal will bequests to next of kin and heirs-at-law
- Legal exclusion of persons from your will by disinheritance
- Protecting infant beneficiaries or heirs of your estate
- The effect of your will on joint property, retirement benefits, and insurance
- Selection of an executor to carry out your directions
- Using trusts to accomplish your goals
Protecting the value of your estate
- Avoiding estate taxes through will and trust provisions
- The tax basis of assets and how it affects your estate plan
- Changes in the law that may result in loss of assets to your estate
- Tax-free transfers, including tax-free gifts, to your heirs
- Strategies to shield you from the effect of capital gains tax on gift transfers
- Use of limited liability companies to reduce estate taxes
- Charitable trusts to minimize estate and income taxes and bypass capital gains
- Pros and cons of joint tenancy and designated beneficiaries in pensions and insurance
- Use of spousal tax laws to preserve assets up to $10 million from loss to federal estate taxation and pass estate tax free to your heirs. Under the new federal tax law each spouse can shelter up to $5 million of their assets. However, in New York State the exemption is $1 million per person.
- Revocable living trusts—the myths and reality
- Use of a durable power of attorney to protect assets in the event of disability or incapacity
An Excellent Lawyer Protects You!
Do not let the state or federal government take what rightfully belongs to you and your family. The Staten Island estate planning attorneys at Armstrong & Lamberti, PLLC stand ready to help you protect your rights and your assets wherever you live in Staten Island, Brooklyn, and the other boroughs. Call us today at 718-477-7700 to schedule your free consultation.