Estate Planning in Old Westbury, NY

Protect Your Million-Dollar Legacy

Comprehensive estate planning that shields your assets from taxes, probate, and family disputes while ensuring your wishes are honored.

Estate Planning Attorney Old Westbury

Your Assets, Your Rules, Your Timeline

You’ve built substantial wealth in one of Long Island’s most exclusive communities. Your estate plan should reflect that success. When properly structured, your assets transfer exactly where you want them – without probate delays, without tax surprises, and without family conflicts.

Your beneficiaries receive their inheritance quickly and privately. No waiting months for court approval. No public disclosure of your family’s financial affairs. No disputes over what you “really meant” because everything is crystal clear.

You maintain complete control over your healthcare decisions and financial affairs, even if you become incapacitated. Your trusted family members can step in immediately, following your specific instructions without court intervention.

Old Westbury Estate Planning Lawyers

We Understand High-Net-Worth Planning

We serve Old Westbury’s affluent families who need sophisticated estate planning strategies. We understand the complexities of managing substantial assets, from historic properties to investment portfolios to family businesses.

Our team has guided Nassau County families through estate planning for over a decade. We’re familiar with the local landscape – the property values averaging over $800,000, the multi-generational families, and the unique challenges that come with significant wealth.

We come to you when it’s convenient. Home visits, hospital consultations, and flexible scheduling because we know your time is valuable and your circumstances may require personalized attention.

Estate Planning Process Old Westbury

Three Steps to Complete Protection

We start with a comprehensive consultation to understand your assets, family dynamics, and long-term goals. This isn’t a sales pitch – it’s a detailed analysis of your situation. We’ll identify potential tax issues, asset protection needs, and succession planning opportunities specific to your circumstances.

Then we design your customized estate plan. This might include revocable living trusts, irrevocable trusts for tax savings, comprehensive wills, powers of attorney, and healthcare directives. We explain each component in plain language so you understand exactly how your plan works and why each piece is important.

Finally, we implement everything properly. Documents are executed with precision, assets are retitled correctly, and beneficiary designations are updated. We don’t just hand you papers – we ensure your entire plan is coordinated and legally sound. You’ll have complete confidence that everything is handled correctly.

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Comprehensive Estate Planning Services

Complete Wealth Protection Strategies

Your estate plan addresses every aspect of wealth preservation and transfer. Wills and trusts ensure proper asset distribution while minimizing estate taxes. Powers of attorney and healthcare directives protect you during incapacity. Asset protection trusts shield your wealth from potential creditors and lawsuits.

For Old Westbury residents with substantial real estate holdings, we structure ownership to minimize estate taxes and avoid probate complications. With median home values exceeding $800,000, proper planning can save your family hundreds of thousands in taxes and legal fees.

We also focus on advanced strategies for high-net-worth families: charitable remainder trusts, family limited partnerships, generation-skipping trusts, and business succession planning. Our goal is preserving your wealth across generations while maintaining your family’s privacy and values. Every strategy is tailored to your specific situation and goals.

Do I need an estate plan if everything goes to my spouse?

Absolutely. Even with the marital exemption, you still need proper estate planning documents. New York’s intestacy laws may not distribute assets the way you intend, and without a will, the process becomes more complicated and expensive for your family. More critically, what happens if you and your spouse are both in an accident? Who will care for your children? Who will manage your substantial assets? A comprehensive estate plan addresses these scenarios and ensures your family is protected in any situation. Additionally, Old Westbury families often have complex asset structures – real estate, investments, business interests – that require careful planning to minimize estate taxes and avoid probate complications. Proper planning now can save your family hundreds of thousands later.

How much does comprehensive estate planning cost?

Estate planning investment varies based on your assets and planning complexity. A basic will costs less than a comprehensive plan with multiple trusts and advanced tax strategies. However, the cost of proper planning is minimal compared to the potential costs of inadequate planning. Without proper estate planning, your family could face probate fees of 3-5% of your estate value, plus estate taxes, legal disputes, and court costs. For Old Westbury families with substantial assets, these costs can easily reach hundreds of thousands of dollars. We provide transparent pricing after understanding your specific needs during our free initial consultation. You’ll know exactly what your investment will be before making any commitment. Most clients find the peace of mind and tax savings far exceed the planning costs.

What happens if I become incapacitated without proper documents?

Without powers of attorney and healthcare directives, your family would need to petition the court for guardianship. This process is expensive, time-consuming, and emotionally devastating during an already difficult time. The court would appoint someone to make decisions about your finances and healthcare – and that person might not be who you would have chosen. The entire process becomes public record, eliminating your family’s privacy. Court-appointed guardians must report to the court regularly, adding ongoing costs and complications. With proper advance directives, your chosen trusted individuals can step in immediately to handle your affairs according to your specific wishes. No court intervention, no delays, no public disclosure. Your family can focus on your care rather than legal battles.

How often should I update my estate plan?

Review your estate plan every three to five years, or whenever you experience major life changes like marriage, divorce, births, deaths, significant asset changes, or relocation. Tax laws also change frequently, affecting your planning strategies. For example, federal estate tax exemptions are scheduled to decrease significantly in 2026, potentially impacting high-net-worth families. What worked perfectly five years ago might not be optimal under current law. Regular reviews ensure your plan remains effective and tax-efficient. We recommend ongoing relationships with our clients rather than one-time transactions. Many families appreciate having their estate planning attorney available for questions and updates as their circumstances evolve. This approach ensures your plan always reflects your current situation and goals.

Can I avoid probate with proper estate planning?

Yes, with proper planning, you can avoid probate for most or all of your assets. Revocable living trusts, joint ownership, and proper beneficiary designations can transfer assets directly to your heirs without probate court involvement. This is particularly important for Old Westbury residents with high-value estates. Probate can cost 3-5% of your estate value, take 12-18 months to complete, and make your family’s financial affairs public record. For families with substantial assets, these costs and delays can be devastating. By structuring your estate plan properly, your assets transfer privately and efficiently to your beneficiaries, often within weeks rather than months. This preserves your family’s privacy, reduces costs significantly, and gets your assets to your loved ones much faster.

What's the difference between a will and a trust?

A will directs how your assets should be distributed after death, but it must go through probate court – a public, expensive, and time-consuming process. A trust holds and manages assets during your lifetime and transfers them directly to beneficiaries without probate. Trusts offer superior privacy, flexibility, and control compared to wills alone. They can provide ongoing management for beneficiaries who aren’t ready to handle large inheritances, such as minor children or family members with special needs. Trusts also offer better asset protection and tax planning opportunities. For Old Westbury families with substantial assets, a comprehensive estate plan typically includes both wills and trusts. The specific combination depends on your assets, family situation, and goals. We’ll help you determine the most effective approach for your unique circumstances.

Local Resources

Old Westbury, NY is located in Nassau County in New York State

Estate Planning in Old Westbury, NY

Protect Your Million-Dollar Legacy