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November 28, 2020


Long Island Estate Planning Lawyer

Experienced Long Island Estate Planning Attorney Ready To Help You

A handshake between a lawyer handling estate planning matters and his client.I focus my practice exclusively in the areas of estate planning, estate administration, supplemental needs, planning, residential real estate transactions, and elder law so I can provide you and your family with a comprehensive strategy for estate planning and asset protection. When making an appointment with Andrew M. Lamkin as your Long Island estate planning lawyer, you can expect me to:

  • Carefully examine your situation and listen to the concerns of you and your family.
  • Fully explain the asset protection concepts utilized and how they achieve your goals.
  • Personally work on every aspect of your case.
  • Work with other advisors to provide you with a complete estate plan.

From drafting wills and trusts to administering New York estates, applying for Community Medicaid and Institutional, or Nursing Home, Medicaid, I provide the professional representation that my clients need. Probate, estate tax, and Medicaid laws are constantly changing. As your experienced Long Island estate planning attorney, it is my responsibility to make available the most current planning strategies to meet your needs.

Preparing for Your Estate Planning Consultation:

  • Copies of deeds to all properties
  • Copies of the most recent bank statements or a list of all assets including bank accounts, CDS, IRAs, 401ks, bonds, and investment accounts
  • Copies of Life and Long Term Care Insurance Policies
  • For Home Care or Institutional Medicaid application consultations, it will be helpful if you also have social security and Medicare cards, social security award letters, pension statements, birth certificates, and either marriage or divorce certificates.

Asset Protection and Estate Planning with Andrew M. Lamkin, P.C.

An attorney explaining estate planning matter to his client.I will help you with any estate planning and probate needs in New York, involving any of the situations below and more. When you hire me as your Long Island estate planning attorney, you will rest assured that I will put your needs first and help you get the best outcome for your scenario.

Estate Planning

Estate planning is a complex field of law that involves many different facets, particularly in the State of New York. Contrary to what many may think, estate planning isn’t just for those who have a vast financial estate – in fact, it’s for anyone who possesses assets that should be protected and passed on to beneficiaries.

What kinds of affairs are included within estate planning? Here is a list of just some of the aspects that estate planning can address:

  • Which beneficiaries should receive which assets, and how assets should be divided according to your wishes.
  • Who should be the guardian of your minor children, should anything happen to you.
  • How a divorce or new marriage can affect your estate.
  • Which trust might be best for your financial situation, and who should be appointed trustee of said trust.
  • How to protect assets in the face of long-term health care costs.
  • And many more aspects of your family’s health care and financial well-being.

Elder Law

If you’re concerned about the future of your or a loved one’s health care and financial assets after becoming incapacitated or after passing away, contact Andrew M. Lamkin today. As a highly experienced elder lawyer in Long Island, he can assist with the following aspects of this area of the law:

  • Medicare and Medicaid planning and benefits
  • Last Wills and Testaments
  • Many types of Trusts
  • Power of Attorney or health care proxy
  • Guardianships
  • And much more

Probate

The probate process can be time-consuming, expensive, and difficult to achieve in some cases. Not to mention, it can often mean undue stress on your family throughout the process. Whether you wish to avoid probate or your family is already in the process of it, contact the Law Office of Andrew M. Lamkin P.C. today to discuss the specifics of your situation.

How the Legal Services of Law Office of Andrew M. Lamkin P.C. Can Help You

If any of these questions are relevant to you, your family, or your finances, speak with a proven Long Island estate planning lawyer. Contact my office today:

  • Do you have a last will and testament? If so when was it last updated?
  • Have you executed a Power of Attorney or Health Care Proxy to appoint someone to make financial and/or medical decisions for you if you become incapacitated?
  • Did you know you may qualify for Medicaid and avoid spending your savings on long-term care?
  • Did you know that your estate may be subject to an estate tax?
  • Do you own property in multiple states? If so, are you aware that it could take over a year to administer your estate through the probate process?
  • Do you have a disabled child or grandchild?
  • Do you have a loved one that requires a home health aide or nursing care?
  • Are you in a second marriage?
  • Are you planning on buying or selling a house?

What to Bring to Your Consultation:

  • Copies of deeds to all properties
  • Copies of the most recent bank statements or a list of all assets including bank accounts, CDS, IRAs, 401ks, bonds and investment accounts
  • Copies of Life and Long Term Care Insurance Policies
  • For Home Care or Institutional Medicaid application consultations, it will be helpful if you also have social security and Medicare cards, social security award letters, pension statements, birth certificates, and either marriage or divorce certificates.

Frequently Asked Questions (FAQs)

What happens if I die without a will?

An attorney writing an estate plan.

If you die intestate (without a will), your estate will pass under New York intestate succession law, which will govern the distribution of your assets, based on specific rules. If you die with a spouse but with no descendants, for example, your spouse will get everything. But if you die with two descendants and a spouse, your spouse will get the first $50,000 plus half of the remainder, while your descendants will split whatever is left 50/50.

Is probate always required?

Most people’s estates are subject to probate, but not everybody’s. It is possible to manage your estate in such a way that none of it is subject to probate (placing your assets in a living trust, for example). A Long Island estate planning lawyer can help you with this. Avoiding probate can save your beneficiaries time and money.

What is a payable on death account?

A payable on death account is an account held with a bank or a credit union for which a specific beneficiary is named. When you die, the money belongs to your beneficiary without your beneficiary having to deal with the time and expense of probate. If your beneficiary is your financial dependent, a payable on death account could provide day-to-day living expenses for your beneficiary, starting as soon as you die.

How do I fund a living trust?

A trust is, of course, useless if it holds no assets. Depending on the type of trust, you will first need to determine whether the trust can legally hold the kind of assets you wish to transfer to it. Many types of trusts, for example, can hold bank account funds, real estate, corporate stock, and even intangible assets such as copyrights and accounts receivable. You will need to transfer the title to any titled assets to the name of the trust itself.

Have Estate Planning Questions?

An estate attorney meeting his clients.Contact Long Island estate planning attorney, Andrew M. Lamkin, today.

When estate planning, there are numerous factors to consider, especially in the State of New York. And no one knows this better than Andrew M. Lamkin P.C.  He has assisted many clients with all of their estate planning needs, and he can do the same for your family.

Without the proper estate planning tools in place, your family may not be able to carry out your health care or financial wishes. Don’t make the mistake of putting your estate planning off another day.

Call 516-605-0625 or contact me online to schedule an appointment with a skilled Long Island estate planning lawyer. I am ready and able to see that all of your estate planning wishes are met. And because my clients’ convenience is always important to me, I am available to meet with you at your home or my office.

 

I would like to thank the Law Office of Andrew M. Lamkin for their phenomenal service. From the first day, we sat down with Andrew, his knowledge of estate planning put us at ease. Elder care planning can be quite confusing but Andrew took the time to explain everything to us in detail. Having a social worker experienced with nursing homes and home care was a huge plus as well. Not only did we get the Medicaid application approved for our father, but Blayne walked us through the entire home care process. Our dad now receives home care 7 days a week, thus lessening the burden on us and mom. Watching parents age is scary but having an experienced lawyer with a knowledgeable and compassionate team makes everything easier. I would highly recommend the Law Office of Andrew M. Lamkin.

F.C., Levittown, NY