Planning for your family’s future can feel overwhelming, but understanding the fundamentals makes the process far more manageable. At Futterman Lanza, LLP, our experienced estate planning attorneys help families in Long Island (Nassau and Suffolk County) and the surrounding areas develop customized plans that protect what matters most. Whether you need a simple will or a comprehensive estate plan, our team will guide you through every step with clarity and care.
Below are answers to some of the most common questions our law firm receives about wills, estate planning, and powers of attorney. We understand that every situation is unique and may raise additional questions. If you need further clarification or have specific concerns, please contact our office to schedule a free consultation.
Estate planning is the process of deciding how your assets will be managed during your lifetime and distributed after you pass away. A solid estate plan does more than just divide property. It ensures your loved ones know your wishes, reduces potential family conflict, and can help minimize taxes and legal fees.
Many people in Nassau, Suffolk, and the surrounding communities assume that estate planning only matters for those with significant wealth or large property holdings, but that simply isn’t true. Anyone can benefit from having clear instructions in place about what should happen to their assets and affairs, regardless of how much they own. Without an estate plan, New York’s intestacy laws will determine how your property is distributed, which may not reflect your personal wishes and could even result in decisions the state makes for you rather than decisions you make for yourself.
These three documents serve very different purposes, and a complete estate plan typically includes all of them.
Our estate planning lawyers can help you determine which documents you need based on your specific situation.
Even if you plan to leave everything to your spouse or children, having a valid will ensures your wishes are clearly documented. Without one, the probate court will follow New York’s intestacy laws to distribute your assets. This process can create delays, increase costs, and lead to outcomes you would not have chosen.
A will also allows you to name an executor, the person responsible for carrying out your instructions. Choosing someone you trust for this role helps ensure your estate is handled properly.
Probate is the legal process of proving that a will is valid and overseeing the distribution of assets. While probate serves an important function, it can be time-consuming and expensive in some cases.
Several strategies can help reduce or avoid probate, including:
An experienced estate planning attorney can review your situation and recommend the best approach for your family.
A trust is a legal arrangement where a third party (a trustee) holds and manages assets for the benefit of your chosen beneficiaries. While a will only takes effect after you pass away, a trust can provide benefits during your lifetime and continue to do so after your death.
Trusts offer several advantages that wills do not provide. They often allow assets to pass to beneficiaries without going through the probate process, which saves time and maintains privacy. Trusts can also protect assets for minor children, family members who have special needs, or loved ones who may require assistance with managing their finances.
Our law firm prepares a wide range of trusts tailored to each client’s unique goals and circumstances. During your consultation, our attorneys will take the time to explain the different trust options available and recommend the ones that best align with your objectives.
A power of attorney protects you if you become unable to handle your own affairs due to illness, injury, or cognitive decline. Without one, your family may need to go to court to gain authority over your finances or medical decisions. This can make their lives even more stressful during an already difficult time.
New York law allows you to create durable powers of attorney, which remain in effect even if you become incapacitated. This ensures that your chosen representative can step in immediately when needed, without the need for court involvement.
Life changes constantly, and your estate plan should keep pace. Our lawyers recommend reviewing your documents whenever you experience a major life event such as:
Outdated documents can create serious problems for your loved ones because they may no longer reflect your current wishes or circumstances. Periodically reviewing your estate planning documents with an experienced attorney helps ensure your plan stays up to date, aligns with changes in your life and the law, and continues to work the way you intend.
Many people make errors that create complications for their families later. Common mistakes include:
There’s a lot that can go wrong, which is why using online do-it-yourself estate planning tools is never the optimal way forward. Working with a knowledgeable estate planning law firm helps you avoid these pitfalls and creates a plan that truly protects your family.
Estate planning is such an important process that you should ask all the questions you can. When you work with an experienced and knowledgeable estate planning attorney, they can offer clarity when you have concerns and anticipate questions you didn’t even realize you had. At Futterman Lanza, LLP, our dedicated lawyers have spent more than 25 years helping families on Long Island (Nassau and Suffolk County) and the surrounding areas plan for the future. We take the time to understand your unique needs and create customized solutions that give you peace of mind.
To learn how our experienced estate planning lawyers can help you protect your loved ones, call us today to schedule a free consultation. You can also reach us through our online contact form. We have law offices in Smithtown, Melville, and Garden City. We look forward to getting to work for you.
