We prepare wills for clients who have decided to appoint us as a professional executor of their estate. A will is a legal document which determines how assets will be divided after death, therefore protecting and planning ahead for your loved ones’ futures.
What We Do
Planning For Loved Ones
We will walk you through the process of preparing a will. This means document how to divide your assets, naming a guardian for your minor children, and if necessary, creating a trust. After the will is complete, we will supervise the signing of the will to ensure everything is done properly.
While preparing a will, many clients also opt to create documents planning for their incapacity and death, such as a healthcare proxy, living will, and burial instructions.
Our Wills Clients
Solo agers are unmarried, without children, and over 60 years old. This growing population has unique estate planning needs.
We works with business owners who desire to keep their business alive after they have passed. We help these clients prepare a will that plans for a successor to their business.
What is a Will?
A will is a legal document that directs how to distribute property upon death. A will also nominates people for important roles, such as executor of the will, guardian of minor children, and trustee.
Who Should Make A Will?
The two (2) most common reasons why New Yorkers should make a will are to:
(1) Name guardians for minor children. Every New York parent with minor children (under 18 years old) should write a will to name a guardian and to create a minor’s trust. This is by far the most common reason for creating a will.
(2) Avoid default laws. There are many situations where New York’s default inheritance laws may be undesirable, such if you wish to disinherit a family member or to keep family wealth within the family bloodline.
How Much to Make a Will?
Our office typically charges a flat fee between $2,000 and $3,500 for preparing and supervising the execution of your will and other documents (living will, health care proxy, and burial instruction).
Burial instruction. A burial instruction is a legal document which memorializes burial wishes and gives another person, the burial agent, the power to control the disposition of bodily remains.
Executor. An executor is the person named in the will who is responsible for administering the estate. The executor must: probate the will, or hire a lawyer to do so; gather and manage all property; pay all bills and taxes; and distribute the remaining assets to the beneficiaries. The executor’s role is extremely time-consuming and requires financial savvy. Typically, the executor is an attorney, trust company, or a close family member.
Guardian. The guardian is the person who gains physical custody of minor children. Typically, the guardian is a close family member or a trusted friend.
Health care proxy. A health care proxy is a legal document which gives another person, the health care agent, the power to make health care decision when you are unconscious, comatose, or otherwise unable to express your own wishes.
Living will. A living will, or do not resuscitate (DNR), is a legal instruction to withhold life-sustaining treatments under certain circumstances.
Minor’s trust. A minor’s trust is created by your will for the benefit of your minor children. The type of trust only comes into existence upon your death.
How to start a Will
To start your will, contact Anthony S Park PLLC to schedule your complimentary consultation, during which one of our attorneys will recommend a suitable will package and explain our fees.