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Helping clients with Wills, Trusts, Durable Powers of Attorney and all other Estate Planning needs in Elmira and throughout Chemung, Steuben and Schuyler Counties, NY.

Estate planning helps people of all walks of life protect what they own and their loved ones when the time comes to cross over to the other side. When you pass away, your estate is what you will leave behind. Estate planning allows you to make sure you’re leaving what you own to the people you choose with minimal legal interference or complication.

Estate planning includes protecting your home and everything else you own while you are alive and defining how everything will be distributed to your loved ones upon your death, all while reducing your tax liability. For businesses we provide business succession planning, as well as estate and financial consulting to landowners who have entered into gas leases with a drilling company.

Estate planning, when done well, takes you through a process that starts with asking questions to uncover what you hold most dear, including the people in your life and everything you own that you wish to protect. Then an estate plan is devised to strategically address your unique planning needs.

Your Estate Plan Will Include a Mix of Different Legal Documents, Including:

  • a Will
  • a Living Will
  • a Durable Power of Attorney
  • a Healthcare Proxy
  • a HIPAA Authorization
  • and/or one or more Trusts

Your specific estate plan and the documents included will depend on the size and structure of your estate and your unique needs and wishes.

Do I Need a Will or Do I Need a Trust?

This is one of the first questions we get asked when meeting with a new client for estate planning.

The answer is that it depends. A will is a written document that outlines your intentions after you pass away, who will dispose of your property and who will inherit your property. A will must go through probate.

A trust helps you to avoid probate. Your property will be moved into the trust during your life and the trust will then own the property, of which your beneficiaries will receive after you pass away.

Even if you have a trust established, a will provides an additional backup plan for any new or old property that wasn’t included in the trust. If you are planning on including all of your property in your trust, then a will may not be necessary.

Again, it all depends. Working with an experienced Estate Planning attorney will help you decided whether you need a will or a trust.

Your Estate Planning Attorney in Elmira and throughout Chemung County, Steuben County and Schuyler County, NY.

Donald W Mustico, Attorney at Law is a full-service estate planning firm serving clients throughout Elmira and Chemung, Steuben, and Schuyler Counties in the state of New York.  We provide consultations for clients seeking traditional estate planning, including younger couples, business owners, and mid-to high-net-worth clients who are at a stage in life where they have immediate concerns beyond long-term-care planning.

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