Fratello Law

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Free Estate Planning Consultation
Free Estate Planning Consultation

Estate Planning in Cove Neck, NY

Protect Your Family's Financial Future Today

Comprehensive estate planning that safeguards your assets and ensures your wishes are honored, no matter what life brings.

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Call: 631-406-5580

Comprehensive Estate Planning Services

Your Peace of Mind, Guaranteed

When your estate plan is properly structured, you sleep better knowing your family is protected. Your assets stay within your family instead of being consumed by nursing home costs, probate delays, or unnecessary taxes.

You maintain control over your healthcare and financial decisions even if you become incapacitated. Your children are cared for by the guardians you choose, not the court system.

Most importantly, your family avoids the stress and conflict that comes with unclear intentions. They’ll know exactly what you wanted and how to carry out your wishes without guessing or fighting.

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Trusted Cove Neck Estate Planning Attorneys

Experience You Can Trust

Fratello Law has been serving Long Island families since 2012, helping clients protect assets worth millions of dollars. We understand the unique challenges facing Cove Neck residents, from high property values to complex family dynamics.

Cheryl Fratello and her team have guided hundreds of families through estate planning, elder law, and Medicaid planning. We’re accredited for Veterans benefits and trained in Alzheimer’s care, bringing specialized knowledge to every case.

We take pride in building relationships that span generations. Many clients return years later to update their plans or seek help for aging parents, knowing they’ll receive the same personalized attention and knowledgable guidance.

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Estate Planning Process

Simple Steps, Lasting Protection

Your estate planning process starts with a free consultation where you’ll discuss your goals, family situation, and concerns. We’ll explain your options in plain language and recommend strategies that fit your specific needs.

Next, you’ll receive a detailed plan outlining exactly which documents you need and how they’ll protect your family. This might include wills, trusts, powers of attorney, healthcare directives, and asset protection strategies.

Finally, all documents are carefully prepared and properly executed according to New York law. You’ll receive guidance on funding trusts, updating beneficiaries, and maintaining your plan over time. We remain available for questions and updates as your life changes.

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Estate Planning Services

Complete Protection For Your Family

Your comprehensive estate plan includes all the documents needed to protect your family and assets. This covers wills, revocable and irrevocable trusts, durable powers of attorney, healthcare proxies, and living wills.

For Cove Neck residents with substantial assets, we provide sophisticated tax planning strategies. With homes averaging over $1.4 million and high household incomes, proper planning can save families hundreds of thousands in taxes and long-term care costs.

We also specialize in Medicaid planning, helping families qualify for benefits while preserving assets. This is especially important on Long Island where nursing home costs can reach $600,000 for a three-year stay. Business owners receive succession planning to ensure smooth transitions and continued family wealth.

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How much does estate planning cost in Cove Neck?

Estate planning costs vary based on the complexity of your situation and the documents needed. A basic will and power of attorney package typically costs less than a comprehensive trust-based plan with tax planning strategies. We provide transparent pricing during your free consultation, so you’ll know exactly what to expect. Most clients find that proper estate planning saves far more than it costs by avoiding probate fees, reducing taxes, and protecting assets from nursing home expenses. Consider that probate can cost 3-7% of your estate value, while nursing home care averages $200,000 per year on Long Island. A well-designed estate plan typically pays for itself many times over.
Many Cove Neck residents benefit from trusts due to the area’s high property values and substantial assets. With homes averaging over $1.4 million and household incomes exceeding $400,000, trusts often provide significant advantages. Trusts help you avoid probate, which can take over a year and cost thousands in legal fees. They also provide privacy since trust documents don’t become public record like wills do. For tax planning, trusts can reduce or eliminate New York estate taxes. If you’re concerned about long-term care costs, certain irrevocable trusts can protect assets while maintaining Medicaid eligibility. We’ll analyze your specific situation to determine if a trust makes sense for your family.
Without proper documents, your family would need to petition the court for guardianship, which is expensive, time-consuming, and public. The court decides who manages your affairs, and it might not be the person you would have chosen. Banks, doctors, and other institutions won’t accept instructions from family members without legal authority. This can leave your loved ones unable to pay bills, make medical decisions, or access accounts when you need help most. Powers of attorney and healthcare directives solve this problem by legally authorizing people you trust to act on your behalf. These documents take effect immediately when needed, avoiding court involvement and ensuring your wishes are followed.
Asset protection planning must be done well in advance of needing care, as Medicaid has a five-year lookback period for transfers. The earlier you plan, the more options you have to protect your wealth. Irrevocable trusts can remove assets from your estate while allowing you to benefit from the income. Proper planning can protect your home, investments, and other assets while still qualifying for Medicaid benefits when needed. For Long Island residents, this planning is especially crucial since nursing home costs can exceed $600,000 for a three-year stay. We help families navigate these complex rules while preserving assets for spouses and children.
Yes, estate plans should be reviewed and updated after marriages, divorces, births, deaths, or significant changes in assets. Outdated documents can create unintended consequences and may not reflect your current wishes. New York law changes can also affect your plan. Tax laws, Medicaid rules, and probate procedures evolve over time, and your documents should be updated accordingly. We recommend reviewing your plan every three to five years. Life events like retirement, business sales, or health changes may require immediate updates. We provide ongoing support to ensure your plan remains current and effective throughout your lifetime.
A will only takes effect after death and must go through probate court, which can take months or years. Everything in your will becomes public record, and the court supervises the distribution process. A trust takes effect immediately and avoids probate entirely. Assets in the trust can be distributed quickly and privately according to your instructions. You can also use a trust to manage assets if you become incapacitated. For Cove Neck residents with substantial assets, trusts often provide better protection and more flexibility than wills alone. Many clients use both documents together – a trust for major assets and a will for personal items and minor assets not in the trust.

Local Resources

Cove Neck, NY is located in Nassau County in New York State