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No one likes to plan for their death.  However, estate planning is essential, and something often overlooked. What people do not realize is that if an estate plan is not made, New York State will step in to divide your assets upon your death.  In a world with complex and non-traditional family units, the default rules governing a division of your assets may result in undesired outcomes.  Estate planning is essential in protecting the financial well-being of your family. It becomes an important to consider when significant changes occur such as marriage, having a child, buying a house, starting a business, receiving an inheritance, getting a divorce, or entering retirement. Consider the impacts of your passing on your loved ones.

Additionally, estate planning is vital in protecting you during your lifetime in the event you become incapacitated.  With an epidemic of Alzheimer’s and related diseases affecting families throughout the Capital District, it is essential that you prepare documents that will protect you and your assets if you become unable to manage them on your own.

At SMITH HOKE, PLLC we use the following planning tools:

For basic estate planning:

  • Last Will and Testament;
  • Health Care Proxy;
  • Power of Attorney

For more complex planning:

  • Testamentary Trusts;
  • Spousal Exemption;
  • Revocable Trusts;
  • Pour Over Wills;
  • Irrevocable Trusts;
  • Spendthrift Trusts;
  • Prenuptial Agreements;
  • Buy Sell Agreements;
  • Disclaimer Planning;
  • Annual Gifting

For the most complex planning:

  • Creation of Limited Partnerships;
  • Creation of Family Limited Partnerships;
  • Insurance Trusts;
  • Creation of a Limited Liability Company;
  • Charitable Giving;
  • Post Nuptial Agreements;
  • Q TIP Trusts

The ultimate question is whether you want to retain control of what happens with your assets upon your incapacity or death to ensure that your loved ones are protected. At SMITH HOKE, PLLC our attorneys listen to you and your needs. If you are looking for a customized plan, please do not hesitate to contact us.  Our attorneys will use their knowledge and abilities to ensure the safety of your legacy.

Our duty to your legacy continues after your passing.  Our attorneys have handled estates for many families in all of the surrounding counties’ Surrogate’s Court. Our goal is to assist you with the necessary legal and financial proceedings so that your loved ones can focus on grieving your loss. Our attorneys will act as a guide for the nominated executor and your family to ensure compliance with your final wishes. We can also provide necessary counsel to make sure that informed decisions are made during such a difficult time. It stands as a testament to our dedication that we represent many generations of the within the same family.

In order to determine what estate planning tools are right for you, a consultation with an attorney is necessary to evaluate each unique situation. If you are in need of an immediate consultation, please call (518)489-5600 to make an appointment. You may also contact us by email using our online contact form. Here at SMITH HOKE, PLLC, clients are our top priority.

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