Nassau County Estate Litigation Attorney
According to a 2012 Forbes magazine survey, Nassau County has the 12th highest median household annual income in the nation and the highest of the state. Not only does the state have a significant level of wealth, due to the budget problems stemming from the 1990s, the county is known for having high property taxes as well. Having a wealthy population as well as high property taxes, both translate to an even greater need for the county's residents to carefully plan for their future.
By drafting a powerful estate plan, our clients are able to ensure that their assets are divided according to their wishes while minimizing the tax consequences upon their heirs which are an important consideration.
When you have worked so hard all your life to save for your retirement and to build an estate, your property and your wealth needs to be protected. Unfortunately, if one fails to draft a sound and legally enforceable will or trust, then when they pass away it is referred to as dying "intestate" or without a will. When someone dies without a valid will, their property is automatically subject to probate.
Probate is the legal process where someone's loose ends are tied after they pass away. This includes paying off one's debts including taxes, as well as passing on assets to heirs (if there are any). Initially, the court will determine if there is a valid and legally enforceable will and if there is, the probate court will name an executor. If there wasn't a will in existence, then the courts will pay off debts and divide property as they see fit, and this doesn't always align with what the deceased may have wanted.
It is not uncommon for numerous contentious issues to arise during the probate process, and these may involve disputes over how the personal representative is handling the estate, or there may be disputes over who is chosen to administer the estate, or there may be disputes over how assets are distributed. When a probate case turns into a probate litigation case, we are here to provide honest and forthright advice as well as aggressive legal representation on behalf of our clients.
We commonly address issues over family disputes, beneficiary claims, estate management and breach of fiduciary duty to name a few. Probate administration in itself is a large responsibility and it should never be undertaken without the guidance of qualified and knowledgeable attorney by your side.
Serving Nassau County Since 1994
Are you asking yourself whether you need a will or not? If you are married, or if you are a parent, or more importantly if you have accumulated property and a significant amount of wealth, then yes, it is advisable that you take the necessary steps to protect your estate from ending up in the wrong hands. A last will and testament is a legally enforceable legal document that lists exactly how you wish your assets to be distributed and to whom, and anyone over eighteen may create a will.
However, wills must be executed in a specific fashion, otherwise they will not be legally valid or enforceable. A will can assist you in nominating a guardian if you have minor children, it can prevent disputes from occurring in probate court, it can reduce the amount of time it takes to free assets to designated heirs, and it can clearly define how debts, taxes and expenses are to be paid upon your death.
Trusts are different than wills, although they can be very similar. While both can establish who you want to receive your assets, a trust also names an executor who will be in charge of managing your trust. An executor can be a spouse, a son or daughter, a family friend, or even an attorney. One of the favorable advantages of a trust is that it can eliminate the need for probate court, which will allow for the transfer of assets and property in a more efficient manner.
Powerful Litigation Attorneys
In addition to crafting wills and trusts, Jonathan E. Kroll & Associates, PLLC also handles real estate transactions, irrevocable trusts and estate litigation. Often times emotions can run very high in probate cases, especially when disputes are over property and money. We handle all types of litigation matters including those that involve trusts, wills, spousal right of election, fiduciary litigation and fiduciary removal. We understand the complexity of these issues and as experienced probate attorneys, you can be rest assured that we will protect your rights and your best interest throughout the legal process.
To contact an attorney from the firm, please call us today to schedule your consultation.
