Estate Planning

Long Island Estate Planning Lawyer

Estate planning is the process of managing and distributing a person’s assets and wealth during their lifetime and after their death. Proper estate planning can ensure that an individual’s wishes are followed and that their loved ones are taken care of in the event of their death. However, without the help of a good attorney, estate planning can be complex and fraught with potential problems.

Our loved ones and assets are the most valuable things we have in life, and it’s important to ensure their safety and security. At Treglia Law, we understand this and are committed to being a trusted partner for our clients.

Schedule an appointment with our estate planning attorney on Long Island by calling our firm at (516) 363-0470 or filling out our online contact form.

What Is the Difference Between Probate & Administration of an Estate?

Administration is a term used when a person dies without a Last Will and Testament. This involves a person who has the legal standing to seek the appointment to be the Estate’s representative in order to manage and distribute the deceased person’s assets according to the Laws of the State of New York.

Probate is a term used when a person dies with a Last Will and Testament. In this scenario, the named Executor/rix seeks to be appointed as the Estate representative, requesting the Court admit that Will to Probate and then the Executor/rix has the authority to marshal and distribute the assets of the deceased according to the terms of the Will.

The threshold in New York Surrogates Court is $50,000 or more. This threshold applies to all assets held solely in the deceased name.

It can be bank accounts, real estate, or what have you. However, certain assets that have named beneficiaries or that are jointly held are not included. Every case is unique, so it is best to seek a consultation with an estate/probate attorney who can provide you with tailored advice specific to your scenario.

Dealing with the loss of a loved one is difficult. It’s important to have proper legal guidance during this challenging time. Treglia Law offers assistance with probate administration and estate processes, ensuring that your loved one’s wishes are properly administered and distributed. Elisa works closely with clients to navigate the legal aspects of the probate process and provide support during this difficult time.

How Will Treglia Help Me Plan For The Future?

Protecting Assets

Protecting your assets is an important part of estate planning. A good attorney can help you create an asset protection plan that shields your assets from potential lawsuits or creditors. For example, they can help you set up a trust to protect your assets or create a limited liability company (LLC) to protect your business assets.

Creating a Will

A will is a legal document that outlines how your assets will be distributed after your death. Without a will, your assets will be distributed according to state law, which may not align with your wishes. A good attorney can help you create a will that reflects your wishes and meets all legal requirements. They can also ensure that your will is properly executed, so there are no challenges to its validity.

Minimizing Taxes

Estate taxes can significantly reduce the value of your estate and impact how much your loved ones inherit. We can help you minimize your estate tax liability by creating trusts or other estate planning tools. For example, they can help you set up a revocable living trust, which can help you avoid probate and potentially reduce estate taxes.

Planning for Incapacity

One of the most critical aspects of estate planning is planning for incapacity. It’s important to have a plan in place in case you become unable to make decisions for yourself due to an accident or illness. A good attorney can help you create a durable power of attorney for healthcare, which will allow someone else to make medical decisions on your behalf. Additionally, they can help you create a durable power of attorney for finances, which will allow someone else to manage your financial affairs if you become incapacitated.

Business Succession Planning

If you own a business, it’s vital to have a plan in place for its succession in the event of your death. A knowledgeable attorney can help you create a business succession plan that ensures your business continues to operate smoothly after your death. They can help you create a buy-sell agreement that outlines how your business will be transferred to your heirs or sold to a third party. They can also help you create a trust to hold your business assets and ensure they are distributed according to your wishes.

Five-Star Client Testimonials

In Their Own Words

At Treglia Law, we prioritize your experience and care about every case. Read some of our recent client reviews below.

    "Extremely Competent Lawyer"
    Elisa is friendly, a good listener and responds promptly to all questions. She is a hard worker and will work just as hard for her client.
    - Isabella B.
    "She's A Powerhouse"
    Elisa is a powerhouse! She excels at listening to details and communicating with her clients. I highly recommend Elisa if you need a great lawyer.
    - Former Client
    "Knowledgable & Personable"
    Elisa was both knowledgeable & personable... she always listened intently and knew the next right move to make!
    - J. R.
    "Excellent Attorney"

    Elisa Treglia successfully resolved my case and it was very smooth. Excellent Attorney!!

    - Kevin K.
    "Easy and Efficient"
    Communication was easy and efficient, and they were able to take care of a couple of tickets for me. Would recommend!
    - Joe M.
    "In Good Hands"
    Very professional, determined, knowledgeable, and helpful. Elisa and her firm always come through when you need them!
    - Joey T.
    "The Attorney You're Looking For"
    She was a great active listener, meticulous, pro-active and fully engaged. Elisa is the attorney you're looking for.
    - Ross G.
    "Above and Beyond"
    Elisa Treglia has been an amazing advocate for me. She genuinely cares about securing the best outcome for her clients.
    - Faizan S.

10 Things to Know About Planning Your Estate

Prepare Your Financials

Make sure all bank accounts have direct beneficiaries. The beneficiary only needs to go to the bank with your death certificate and ID.

Create a Living Will

Put in writing exactly what you want done in the event you’re unable to speak for yourself. A living will relates to medical decisions as well as financial situations.

Healthcare Power of Attorney

You’ll designate a person to make healthcare decisions on your behalf when you’re unable to do so. Also known as Healthcare Proxy, can assist decisions such as whether or not to engage life support.

Funeral Planning

Describe your wishes as far as funeral services, disposition of the body, and other matters to help your family make final decisions.

Key Passwords & Access Permissions

Ensure someone knows all your critical access permission – your Apple ID, bank account logins and passwords, etc.

Transfer on Death (ToD)

Filing this document can save your heirs thousands if you own a home. It allows you to transfer ownership of your home to your designee without having to go through probate.

Durable Power of Attorney

This allows you to designate a person to make legal decisions on your behalf if you are no longer able. This might include buying and selling real estate and other important matters.

Last Will & Testament

You’ll designate how all of your personal belongings will be handled after your death – including to whom items will be transferred, or guardians for minor children and other matters.

Listing of Assets

Make a list of all of your bank accounts, investments, account numbers, life insurance, credit cards, utility accounts, etc. Leave clear instructions as how and when things should be paid and handled.

Ownership Documents

Gather all of your titles, deeds, and other important documents in good order. Set up a Trust for your intended beneficiaries. Appoint a trustee assigned to administer the trust.

At Treglia Law, you will find a knowledgeable Long Island estate planning attorney that is dedicated to helping you build a plan that is tailored to your unique needs. Call (516) 363-0470 today to begin.

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