Huge Risks a Good Trust and Estate Lawyer in Long Island Can Help You Avoid
Now that you’ve come around on the idea of hiring a trust and estates lawyer here in Long Island, it’s important to know exactly what types of major mistakes these experts can help you avoid when planning out your next financial phase. Unfortunately, there are plenty of pitfalls and hurdles that you can run into quickly if you don’t know the path ahead of you, and your trust and estate lawyer can be a key partner and making sure you navigate this complex road in the proper way.
Here are a few of the major mistakes to look out for when planning your trust or estate needs.
Misfiled Documents Can Be Catastrophic
One simple mistake can unfortunately cause a snowball effect that can lead to tons of lost dollars or potential legal issues for you and your family. This is the major misstep that we find clients running into all the time when they try to go it alone without the help of an experienced expert on their side.
Unfortunately there are so many different technical elements to properly filing paperwork or making sure that all of your ducks are in a row, and the untrained eye can miss many things along the way.
Manhattan, Brooklyn, Queens, Long Island, New York, NY
Disputes Will Come From the Clouds
What most people don’t realize is that people can file dispute on assets for so many reasons it will make your head spin! Very often after trust or estates are set up by an attorney in Long Island, there will arise sudden disputes or claims from family members or friends or business partners that you may have never even heard of before. That is because some public documents can get out and people will try to get their hands on your money one way or another.
Make sure your assets are not ever at risk because some small detail has been missed!
Missed Opportunities Are Everywhere
With decades of trust and estate law under our belts, we’ve learned the ropes and intricacies of trust and estate law here in Long Island. We know all the moves that are available to you depending on your unique situation, and we’ll make sure that we put every effort possible to get you the most out of your money.
Unfortunately, we can’t say the same for many less experience or less specialized legal teams here in Long Island.
Poor Prep and Communication Can Ruin Families
Perhaps the saddest thing that we see all too often is families being broken apart because of disputes that arise when assets are simply not properly communicated or prepared by the legal team and the original client trying to set up the trust or estate. Often, this misallocation is purely an error or a matter of poor preparation and communication, which are easy mistakes to avoid.
The more specific you can be the better, and it’s critical to make sure that all potential trustees or executors understand exactly who is getting what and when long before the probate period occurs.
We will help you set up your funds, make sure that your Long Island trust and estates are clearly explained to all potential recipients, and your wishes are carried out properly.