Albany Trusts and Estates Lawyer

An important aspect of estate planning for many people is designating some assets for one or more charities. Because IRS regulations on charitable donations can be complex, it’s important to work with an experienced attorney who can help you navigate all the legal and tax considerations involved with charitable planning.

In many cases, there may be charitable giving tax breaks you can take advantage of during the estate planning process. Tully Rinckey PLLC’s estate attorneys are aggressive in developing plans that allow you to maximize your legacy and take control over how your assets are distributed.

A trust may be created for many reasons, including the timing of asset distribution or the control of assets for beneficiaries who may not be able to manage them due to age or other factors.

The services of an experienced estate planning attorney can be invaluable when making a decision about trusts. The attorneys at Tully Rinckey PLLC understand how important it is to ensure that your property is handled and managed properly. In some cases, we can structure a trust to protect its value and even provide some tax benefits.

A will is a legal document that allows a person to designate what will happen to his or her property and assets after death. A will can also designate a guardian or guardians for any minor children, and appoint a trustee or trustees for any trust set up in the will. Contrary to what many people think, you don’t need to be wealthy to have a will. In fact, no matter what your financial situation is, having a will not only ensures that your wishes are respected after you die, but it can also reduce stress and tension for your loved ones.

At Tully Rinckey PLLC, our lawyers can help you draft a will or make modifications to the will you already have. Our attorneys have years of experience in estate planning, and are ready to provide you with competent, compassionate, and affordable service.

Estate administration is the process of managing the estate of someone who has passed away (the decedent).This process is handled in accord with applicable laws and, when available, a valid will. During the administration process, expenses, taxes, and debts are paid, and the remaining assets are distributed in accordance with the decedent’s wishes or pursuant to state law.

This process can be very complicated, particularly when someone dies without leaving a valid will. At Tully Rinckey PLLC, our experienced estate administration attorneys stand ready to assist you and your family at this difficult time. Our Frequently Asked Questions section can provide you with some answers regarding administration of an estate. However, there is no substitute for a consultation with a legal professional.

A power of attorney allows you to appoint someone you trust to handle your financial and business affairs for you. Taking this step can help you, and your family, avoid financial disaster by assigning a responsible party to manage your finances and business affairs for you.

Contrary to popular belief, it’s never too early to begin an estate plan that includes powers of attorney. Sudden illness and accidents can happen at any time, and it’s wise to be prepared. The experienced attorneys at Tully Rinckey PLLC stand ready to assist you and your family in every aspect of developing an estate plan.

If you have a loved one with special needs, you may be concerned about how to provide for them while ensuring that they don’t lose their eligibility for government benefits. One option is to create a special or supplemental needs trust. This allows you to provide monies to the person without jeopardizing their long-term financial situation.

Creating a special needs trust is a complex legal process, and it’s never too early to begin an estate plan, especially if one or more family members has special needs. The experienced estate planning attorneys at Tully Rinckey PLLC stand ready to assist you in the creation of such a trust. We can also counsel you in understanding what other assistance programs you and your family member might qualify for.

When a person becomes unable to make personal or financial decisions due to some type of incapacity, and the person has not executed a durable power of attorney or health care proxy, it’s possible to create a guardianship for personal or property management needs. A “guardian of the person” is responsible for making decisions around that person’s care and support. Such decisions may include issues of medical treatment, professional services, living situations, and end-of-life plans. A “guardian of the property” is responsible for protecting the financial interests of the incapacitated individual.

The experienced elder law attorneys at Tully Rinckey PLLC can initiate a guardianship proceeding to protect the interests of any incapacitated individual. The goal is to appoint a trusted family member, advisor, or friend to act as the individual’s guardian.

In the event that you are incapable of making healthcare decisions, you will probably want a trusted family member or friend to make these decisions for you. One way to ensure that your wishes are respected is to appoint a healthcare proxy. Without a proxy, these decisions will either be made in accordance with state law or by someone who has been appointed your guardian by the courts.

Even if you are in good health now, accidents can happen at any time, so it’s never too early to start planning. People over the age of 18 can appoint a healthcare proxy. The experienced elder law attorneys at Tully Rinckey PLLC can assist with this process. Our attorneys will listen to your concerns and help you in all aspects of estate, healthcare, and end-of-life planning.

Advances in medical care make having a living will more important than ever. Living wills are documents that outline specific instructions to medical personnel regarding your wishes for treatment. The living will is consulted when you’re unable to communicate your wishes regarding life sustaining treatments, such as cardiac resuscitation, pain medication, mechanical respiration, and the insertion of feeding tubes.

At Tully Rinckey PLLC, our elder law attorneys have significant experience in this sensitive area of law. We assist you and your family in the development of a living will that respects your needs and desires. Because medical emergencies can and do happen at any time, it’s never too early to have a living will in place.