Estate Planning Attorney Serving Ridgewood, NJ & the Surrounding Area
People often forget about estate planning until the last minute when they need it the most. Estate planning by definition is the arrangement & planning during a person’s life for the management and disposal of that person’s estate, or in other words their possessions. The disposal of the estate would come once the owner of the estate has passed. It can be difficult to understand everything that goes into an estate plan. That’s where an estate planning attorney comes in. An estate planning attorney will draft living trusts and develop plans to diminish estate taxes. Our estate planning attorneys at Michael A. Manna & Associates Attorneys at Law are well-versed & up-to-date on the estate laws of New Jersey & New York.
An estate plan can be simple or complex, basic or elaborate. Whatever the shape and form of the plan, it can provide for your loved ones and give you peace of mind.
At the law firm of Michael A. Manna & Associates, our Ridgewood estate planning attorneys create estate plans for people in all walks of life. We are highly experienced in this area and understand the many creative uses of estate documents and vehicles. Don’t hesitate to contact us if you need an estate planning attorney in Allendale, Fair Lawn, Ramsey, & Ridgewood, Glen Rock, Midland Park, Paramus, Upper Saddle River, Waldwick, Wyckoff, NJ or the surrounding areas.
Providing a Full Range of Services to Help Plan for Your Family’s Future
Our firm provides a full range of estate planning services including:
- Revocable living trusts and irrevocable living trusts
- Gifting strategies
- Durable powers of attorney
- Health care directives (living wills)
- Other estate planning services
Our estate planning attorneys provide advice and services for people with medium to large estates.
Estate Planning for the Disabled
If you have a disabled child, spouse or relative, you are presented with a unique set of problems. If the disabled person is receiving Medicaid or other government benefits, or may be eligible for them in the future, these benefits may be needs-based. By that, it is meant that the disabled person must be poor to receive them. Should these people inherit wealth, it could disqualify them for Medicaid and other needs-based assistance, effectively knocking them off these government programs that are paying for their care. Their inherited wealth would then have to be used to pay for their care until it is spent down, at which point Medicaid or similar programs would resume paying for the disabled person’s care. The net result is that the person would not receive any better care and the inherited wealth would be wasted.
We can present to you all of the methods available to provide for such a disabled person, without losing these very valuable government benefits. Methods such as disinheritance, supplemental needs trusts and irrevocable trusts should all be discussed, and the pros and cons of each method thoroughly reviewed.
The Estate Planning Process
We will begin the estate planning process by getting to know you, your family and your financial situation. We will learn about your hopes and dreams as well as areas of concern and anxiety. We will then create an estate plan that will accomplish your goals and reflects your values.
As your family and financial situations change, it makes sense to revisit your estate plan. The birth of a child, a marriage or divorce — these or other events may require changes to your existing plan or require additional documents or estate vehicles.
Creative Estate Tax Minimization Strategies
Our attorneys have a great deal of experience in the uses of the law to minimize estate taxes.
We understand how to use trusts and gifting in creative ways to achieve your goals and which reduce or eliminate the payment of estate taxes. We can discuss your needs and potential tax minimization strategies with you.
Contact Our Bergen County Living Trust Lawyers
For more information about the benefits of living trusts and other estate planning devices, speak with us. Contact our Ridgewood estate planning attorneys online or call 201-345-3018 to schedule a free initial consultation to discuss your situation. We represent clients throughout New Jersey and New York.