Long Island Trusts and Estates Lawyer

Estate planning is not just for the super rich! Even those with a modest income can have a need for the services of a Long Island trusts and estates lawyer. Your estate is your living legacy for your heirs, and having your estate distributed the way that you wish requires that you have a last will and testament in place that spells out your final wishes. Your Long Island trusts and estates lawyer can help you to prepare this type of legal instrument, and can also assist you in establishing a trust that will allow your estate to pass through to your heirs with the minimal tax penalty possible. Federal and state estate or death taxes can eat up a big portion of your estate (as much as forty-five percent), leaving your heirs with less than you had planned. You have worked hard your entire life in order to provide for your spouse, children, and grandchildren. Preparing a will and possibly forming a trust for your estate to be administered through is a great way to make sure that your hard earned money goes as far as possible for your loved ones.

Long Island Law, and the legal team at LI-Lawyers.Com are competent and seasoned Long Island trusts and estates lawyers who can advise you about which steps you should take to ensure the safe passage of your estate to your heirs. The formation of a trust is often the best way for your money to safely pass from one generation to the next, or to ensure your surviving spouse’s well-being and maintenance after your death. A trust can:

• Preserve the biggest portion of your estate for those that you intended to have what you leave behind. Estate taxes are brutal. A properly established trust can minimize or eliminate estate tax or death tax.
• Allow for your children to be cared for, including special-needs children. Adult children that are dependent upon their parents for medical reasons can benefit from an established trust that pays for their care in the future.       This will give the decedent peace of mind in knowing that their child will still receive quality care, even when the parent is no longer around to give it.
• Provide a steady stream of income. Many people establish a trust to provide a steady stream of income for themselves or their spouse, even while they are still alive. This is sometimes arranged as a charitable trust that will revert over to the charity upon the death of the patron.

These are just a few of the possible benefits that establishing a trust for your estate can bring. A competent and seasoned Long Island trusts and estates lawyer can help you to determine a trust is the right move for your particular estate.