No one likes to think about their own mortality, but it is and important to take the steps to protect you family and loved ones whether they are children or adults. A simple will, health care proxy, living will and durable power of attorney may be all that you need. Without relatively simple documents, properly drafted, and properly executed by a trained professional, disaster may be looming around around the corner. If your estate is more complex, failing to plan could cost your estate a fortune. While were are all told that two things are imminent, death and taxes, they do not necessarily have to go together.
You have worked hard your entire life, practiced prudent spending habits, made suitable and productive investments, and as you approach your twilight years, your want to ensure the fruits of your labor are there for your loved ones, not for the benefit of the State, or Federal Government. While the Federal Government allows you to transfer over $5,000,000.00 without estate tax, New York State is not as generous. Hutchinson & Hutchinson can assist in your estate planning needs to maximize the amounts that remain available for your loved ones. Our services include will drafting, trust preparation, gifting, valuation discounting, as well as the preparation of living wills, powers of attorney, and healthcare proxies.