Trust and Estates Law
You don’t need to wait until you are a senior to think about estate planning. In fact, even younger couples may have a need to plan for how their estates will be handled, should they pass away unexpectedly or prematurely. Finding a Long Island trust and estates lawyer can be a big challenge and it is imperative that you choose the right lawyer for your estate. For seniors, this type of lawyer can give them the peace of mind that their wishes are carried out and that their estates and that their heirs lose less of the value of their estates when that time comes. Siben & Siben can give you the expertise and personal service you need in these matters.
Trusts and Protecting Your Estate
Many people choose to leave their estates in trusts that will protect their wealth when it changes hands. There are many types of trusts, including those that can generate income for the grantor of the estate while he or she is still living before transferring to their heirs or beneficiaries upon death. There are also special trusts for philanthropic purposes when you wish to leave a gift to charity when you pass away, or even generate income for the charity while you are still living. Our experienced and seasoned trust and estates lawyers understand the language that trusts must be written in to be effective and enforced upon your death. For this reason, going with a lawyer whose experience has not been tested can be a huge and costly mistake. Siben & Siben trust and estates lawyers can show you which type of trust can protect your estate from overinflated estate or death taxes that are currently 45% of the estate, and from gift taxes that are 55% of the value of the gift.
Our trust and estates lawyers are well-versed in trust law and understand how to move money into the right trust to best manage your estate is important even for those who don’t believe their estates to be “high value”. It is not inconceivable and is in fact, quite common, for a working couple to have an estate that could lose a lot of value upon their death due to estate tax, even on a more modest income. For example, if you own a home and have an ample insurance policy, your estate could very well be worth a million dollars or more when you pass away. For this reason, contacting Siben & Siben Long Island trust and estates lawyers is imperative for a great number of people, not just the super-rich.
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