Why You Need a Will

The primary reasons for making a will are:

(1) to leave your property to those about whom you care in the manner and proportions you choose;

(2) to choose the person(s) you want to handle your estate (i.e., executors and trustees);

(3) to name a guardian for your minor children;

(4) to determine how assets will be administered for the benefit of a surviving spouse and other heirs (whether outright or in trust);

(5) to structure a plan that minimizes state and federal estate an income taxes.

What is the best way to make a will?

Making the best estate plan and the best will takes knowledge and expert advice. For example, do you know that property held jointly with another may not be distributed by will? Or that life insurance may or may not be distributed by will depending on who is named as a beneficiary? Or that the same can be said of individual retirement accounts, 401(k) plans, pension plans and other assets? Or that a spouse has a right to a share of your property no matter what your will says?

To create the best will and estate plan for you and your family it’s important that you work with a qualified attorney.

Estate Planning Steps at Adler & Adler, PLLC

Step 1 – Initial consultation — Our estate planning process begins with a free initial telephone consultation. The initial consultation provides an opportunity for us to get to know each other and determine the type and scope of planning that is best for you and your family. Call us today at 212-843-4059 or 646-946-8327.

Step 2 – Planning stage — We will gather information, discuss options for organizing and managing your affairs, and design an estate plan that reflects your wishes and meets your objectives. The number of meetings depends on the complexity of your situation.

Step 3 – Drafting stage — We will create the legal documents (wills, trusts, etc.) necessary to implement your plan.

Step 4 — Document Review — We will thoroughly review your draft documents with you and advise you of any additional steps that you need to take to assure your estate plan operates correctly, such as changing beneficiary designations on insurance or retirement benefits, and (where applicable) the funding of trusts. The number of meetings depends on the complexity of your situation.

Step 5 — Document Execution — We will meet to execute (sign) your documents and assure that all legal formalities are met.

What will it cost?

There is no charge for the initial telephone consultation. In a majority of cases we work on a fixed fee basis. In more complex situations, we may propose work on an hourly basis or a combination of fixed fees and hourly charges.

Attorney Adler focuses his practice on estate planning, wills, trusts and estates. He can be reached at 212-843-4059 or 646-946-8327.