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Estate Planning
Estate Planning Legal Assistance in the Bronx, NY
When most people hear the term estate planning, many suspect it’s an indulgence reserved for the wealthy. But the truth is, anyone who has accumulated modest wealth can benefit greatly from an estate plan. If you have worked and saved all your life, why tolerate unnecessary losses later in life or when you pass your holdings to your heirs?
The Cormac McEnery Law Firm: Personalized Service for Your Legacy
We are dedicated to helping diverse individuals preserve the value of their life’s work, so they can enjoy a comfortable retirement, maintain their security in old age, and leave a proper legacy to their heirs. We offer personalized service so that we can learn about your circumstances and concerns, and craft a specific plan to meet your unique needs.
The Basics Of An Effective Estate Plan
Estate planning involves the creation of legal instruments that convey authority and hold assets. The right combination of instruments depends on your circumstances, but comprehensive estate plans contain:
A clear, concise will allows a testator to dictate how assets are to be distributed after the testator’s death.
Grantors can create legal entities to hold their assets during their lifetime or after their death.
Individuals can grant proxy powers to relatives or friends to make decisions for their health, safety, and welfare.
Individuals can place restrictions on the type of emergency interventions that medical professionals can use
Legal means of limiting your exposure to taxes and liability, and ensuring eligibility for Medicaid assistance
Start Estate Planning Today
At our firm, we get to know you and your concerns. Drawing on more than 35 years of legal practice, Mr. McEnery helps you evaluate your personal circumstances, project your future needs and determine the best method of asset protection for your resources.
Experienced Counsel
Mr. McEnery has practiced law for more than 35 years. A noted authority on elder law and estate planning, he teaches Continuing Legal Education (CLE) courses for practicing attorneys.
Personalized Service
Mr. McEnery and his colleagues are amiable and relaxed in their interactions with clients, but strict in their adherence to professional standards for prompt, thorough communication.
Ethical Representation
Mr. McEnery fully appreciates the responsibility of representing clients, such as elders in declining health, who are especially vulnerable.
Knowledgeable and Helpful Support Staff
Our practice benefits from friendly, highly-professional paralegals who have longstanding relationships with the firm and are heavily invested in client satisfaction.
Why Choose The Cormac McEnery Law Firm?
• Experienced Counsel: With decades of legal practice, Mr. McEnery is an authority in estate and elder law, providing expert guidance to both clients and attorneys.
• Personalized Service: Our team’s warm approach to client interactions, coupled with prompt, professional communication, ensures you feel supported every step of the way.
• Ethical Representation: We understand the sensitive nature of estate planning, especially when clients are elderly or in declining health, and are committed to ethical, compassionate service.
• Knowledgeable Support Staff: Our team includes experienced paralegals dedicated to client satisfaction, contributing to efficient and thorough support.
Frequently Asked Questions (FAQs)
- What is estate planning, and why is it important?
Estate planning is a process of creating legal documents to protect and manage your assets and specify your wishes for medical care. It’s important for everyone, regardless of wealth, to ensure their assets are distributed as intended and that loved ones are protected from unnecessary complications. - Do I need a will if I have a small estate?
Yes, even a small estate benefits from a will. A will provides clear instructions for asset distribution, helping to prevent family disputes and ensuring your wishes are legally recognized. - What’s the difference between a will and a trust?
A will goes into effect after you pass, dictating how your assets are distributed, while a trust can be used to manage assets during your lifetime and beyond. Trusts offer additional benefits, such as avoiding probate and providing privacy. - What is a power of attorney, and when is it used?
A power of attorney is a document that authorizes someone you trust to make decisions on your behalf if you’re unable to do so due to illness or incapacitation. It’s an essential part of estate planning, especially for health and financial decisions. - How can estate planning help with Medicaid eligibility?
Estate planning can involve strategies to protect your assets while maintaining eligibility for Medicaid assistance, especially in cases where long-term care is necessary. - When should I update my estate plan?
You should review and update your estate plan whenever there are significant life changes, such as marriage, divorce, the birth of a child, or major financial changes, to ensure your plan reflects your current circumstances and wishes. - How do I get started with estate planning?
Contacting an experienced estate planning attorney is the first step. Our team at The Cormac McEnery Law Firm will discuss your goals, help you understand your options, and guide you through the process of creating a personalized estate plan.