Estate Planning Attorney in Manhattan

The Basics of Estate Planning

At the Law Offices of Wenarsky and Goldstein, LLC, we believe estate planning isn’t just for the wealthy; every individual and family deserves a tailored plan that fits their circumstances. Proper planning provides meaningful benefits like confidence that your wishes are safeguarded and protection from avoidable taxes and claims. Additionally, they can reduce family disputes and confusion.

By addressing these details now, you offer your loved ones solid protection during times of uncertainty. Moreover, a comprehensive plan developed with our team will include wills and trusts:

Wills

This fundamental document lets you determine how your estate is distributed, name an executor, and select guardians for your children. Without a valid will, New York’s intestacy laws will govern who receives your assets, which can create unnecessary stress for those you leave behind.

Trusts

Trusts provide flexibility and privacy and can reduce or eliminate the need for probate. Whether you’re interested in a revocable living trust, an irrevocable trust, or a special needs trust, establishing the proper structure helps protect your assets from creditors, provide for loved ones with unique needs, and minimize taxes. For example, in New York, estates are typically exempt from state estate taxes if the value of assets passed to beneficiaries (excluding spouses or charities) is below the exemption threshold of $6.94 million (for 2024). No New York estate taxes are owed if the value falls under this limit.

Our typical services for Manhattan clients include:

• Will Drafting: We ensure your will not only conforms with New York law, but also addresses the unique elements of your estate.
• Trust Creation and Management: Our guidance covers the full spectrum of trusts. We often recommend revocable living trusts to bypass lengthy probate proceedings or irrevocable trusts for asset protection and tax strategies.
• Tax Planning: Manhattan estates often face considerable tax exposure; Manhattan real estate is among the most expensive in the world, which can lead to high estate values. We develop customized solutions to minimize your estate’s liability, from leveraging lifetime gift exemptions to creating charitable foundations.
• Advanced Directives: We use powers of attorney, health care proxies, and living wills to help you plan for incapacity and medical decision-making so your preferences are respected.

Your estate plan isn’t static. We recommend revisiting your documents when you experience life changes like marriage, divorce, welcoming a new child, significant financial shifts, or changes in health. At the Law Offices of Wenarsky and Goldstein, LLC, our commitment is ongoing—we’re here for you at every stage of life.

The main statutes and codes that regulate estate planning in New York include:

Estates, Powers and Trusts Law (EPTL)

This is the primary law governing estate planning in New York. It covers various aspects, including the creation and execution of wills, rules for trusts, powers of attorney, and rights of beneficiaries.

Surrogate’s Court Procedure Act (SCPA)

This act governs the procedures in the Surrogate’s Court, which handles probate and estate administration. It covers probate processes, estate administration, guardianships, and adoptions.

Furthermore, New York’s tax laws include provisions on estate taxes and gift taxes, and local banking laws can affect estate planning concerning financial accounts and institutions. Finally, public health laws include regulations on medical directives and living wills.

These laws work together to create the legal framework for estate planning in New York. However, these laws can be complex and subject to change, so it’s often advisable to consult with a legal professional when engaging in estate planning in New York.

Choosing the Right Estate Planning Attorney

Selecting the right attorney is an investment in your family’s security and peace of mind. At the Law Offices of Wenarsky and Goldstein, LLC, we believe in making this critical choice as straightforward as possible.

Here’s what we encourage you to look for:

• Credentials: Our attorneys are licensed to practice in New York and have advanced training and affiliations in trusts, estates, and tax law. Our dedication to ongoing education ensures we’re always current on legislative changes affecting your estate.
• Relevant Experience: We handle estate planning and probate matters daily with a deep understanding of Manhattan real estate, multi-generational planning, and strategies tailored for high-value assets.
• Communication: You deserve precise, timely, and compassionate communication. We take the time to answer questions, explain options, and keep you informed from our first meeting through every update to your plan.
• Focused Experience: If your needs include business succession, special needs trusts, or living trusts, our focused experience ensures thorough, personalized guidance. We’re also proud to be a trusted resource in elder law advocacy.

We recommend coming to your initial consultation with questions related to your goals, unique family dynamics, and how we can tailor our approach. Genuine conversation helps us build a relationship that supports you for the long term.  

Choosing a firm with strong local ties and a proven track record means your plan will truly reflect Manhattan’s legal landscape. If you have cross-state or cross-border interests, we also help you assess New Jersey inheritance laws and their interaction with New York property.