New York & Connecticut Estate Planning Law Firm
A Problem-Solving Approach to Securing Your Personal and Business Legacy with the Law Office of Patricia Rusch Bellucci
Let's Design a Strategy That Fits Your Needs
Request a consultation with the Law Office of Patricia Rusch Bellucci
Discover the difference a problem-solving approach makes in a tailored estate plan that meets each client's family legacy planning, probate and estate administration, and business succession planning needs.
Estate Planning in NY
We Focus on Each One Of Our Client's Individual Needs
At the Law Office of Patricia Rusch Bellucci, we understand estate planning and how to secure your legacy. We listen to each client and partner with them to protect and preserve their estate by creating a comprehensive strategy that ensures your family’s future security. Whether it’s defining the distribution of your assets through a will, managing your estate both now and in the future through a trust, or designating your financial and healthcare wishes should you be unable to, we provide tailored solutions to meet your specific needs and goals.
Estate Planning in NY & CT
The Law Office of Patricia Rusch Bellucci's Problem-Solving Approach Fulfills Your Intended Legacy
Many clients are surprised to learn that if they pass away without a legal document outlining their wishes, their estate is subject to the default intestacy laws of New York, which decides to whom estate assets go. It’s likely that the probate court’s decisions will not align with your wishes. Create certainty for what will happen to your property after you are gone through a tailored estate plan with the Law Office of Patricia Rusch Bellucci to provide for your loved ones and pass on the legacy you envision.
Estate Planning
Secure Your Future
Create a comprehensive estate plan with the Law Office Patricia Rusch Bellucci using our problem-solving approach to match strategies to goals. What are your estate planning goals?
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Avoid New York & Connecticut probate
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Protect estate property and other assets
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Distribute assets to loved ones
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Provide for dependents and loved ones with special needs
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Address needs as you age, such as long-term care, Medicaid eligibility, and cognitive decline
Our Services to Match Your Estate Planning Goals
Strategic Estate Planning: Securing Your Legacy
Our comprehensive approach includes legal strategies, such as wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and healthcare-related documents.
Your Last Will and Testament
Essential for for after-death affairs and more
Revocable Trusts
A flexible solution for those looking to manage their assets effectively during their lifetime
Irrevocable Trusts
Are tailored for specific needs and offer robust protection
Powers of Attorney (POA)
Durable or Financial Power of Attorney and Medical Power of Attorney
Advance Directives
Protecting Your Health Care Wishes
Estate and Income Tax Minimization
Taxes can erode wealth if you're not careful
Long Term Care Planning
Protecting Assets and Securing Care
Estate Planning
Your Last Will and Testament:
Wills are essential for after-death affairs, specifying asset distribution and guardians for minors. However, a will does not circumvent the probate process; it actually begins the formal probate procedure, which is public and can be lengthy.
Benefits of Trusts
Trusts provide a more discreet and efficient method of asset management and transfer. Unlike wills, trusts can operate during your lifetime and continue after death, avoiding the probate process and offering ongoing asset management. Additional benefits that trusts offer include clear management of the estate, specific provisions for taking care of dependents and disabled loved ones, and protecting the privacy of the estate owner.
Estate Planning
Revocable Trusts: Flexibility and Control
Revocable trusts offer a flexible solution for those looking to manage their assets effectively during their lifetime. As the grantor, you retain the ability to amend or revoke the trust as your circumstances or decisions change. This control extends to the ability to alter trustees, beneficiaries, and even reclaim assets from the trust without tax consequences. The main advantages of a revocable trust include the avoidance of probate, which can expedite the distribution of assets to heirs and significantly reduce associated costs and delays. Furthermore, revocable trusts keep the contents private and out of the public record, offering a discreet way to manage your estate.
Irrevocable Trusts: Enhanced Protection and Tax Benefits
Irrevocable trusts are tailored for specific needs and offer robust protection. Once established, these trusts are difficult to alter, requiring consent from all parties involved, such as beneficiaries and trustees. The key benefit of an irrevocable trust is that the assets placed within are removed from your taxable estate, potentially saving significant amounts in estate taxes upon your death, particularly if you anticipate that estate tax thresholds might decrease in the future. While these trusts are typically more costly to set up due to their customized nature, they provide substantial long-term benefits by securing your assets and reducing your taxable estate.
Powers of Attorney (POA): Overseeing Your Financial and Medical Best Interests
- Durable or Financial Power of Attorney: Allows an individual known as the principal to appoint someone else as an agent to make financial decisions on their behalf when they are mentally or physically unable to communicate their wishes. The agent has the authority to oversee financial matters such as accessing bank accounts, paying bills, and managing investments.
Advance Directives: Protecting Your Health Care Wishes
Health Care Proxy/Living Will: These are similar tools and can be used alone or together in an estate plan. These legal documents provide medical or health care instructions from providers and facilities to emergency treatment and life-saving measures. Also known as advance directives, individuals specify their wishes regarding medical treatment and end-of-life decisions in the event of incapacitation or terminal illness.
Estate Planning
Estate and Income Tax Minimization
Taxes can erode wealth as you build it or decrease the wealth passed to your beneficiaries. Estate tax, often referred to as the “death tax,” is a tax levied on the transfer of the assets of a deceased person including cash, real estate, stocks, and other assets. New Yorkers face both federal and state-level estate taxes. Therefore, estate tax planning is essential especially for high net worth residents to mitigate tax liabilities and preserve wealth. The Law Office Patricia Rusch Bellucci provides personalized tax solutions to help clients minimize income and estate tax liabilities.
Long Term Care Planning: Protecting Assets and Securing Care
Long-term care planning is a critical component of estate management, especially as you age. It involves preparing legal documents and making strategic decisions to ensure your financial, health, and personal preferences are respected if you become unable to manage your affairs. The Law Office of Patricia Rusch Bellucci takes a proactive approach to safeguard your quality of life and ensure your estate is handled as you intend.
The services of Attorney Patricia Rusch Bellucci are indispensable in long term care planning. Applying legal and financial strategies to structure assets and income according to Medicaid regulations, we help clients align financial strategies with legal requirements for Medicaid eligibility, ensuring that seniors protect their assets and receive the care they deserve.
Secure Your Legacy with the Law Office of Patricia Rusch Bellucci
At the Law Office of Patricia Rusch Bellucci, we are dedicated to helping you craft a comprehensive estate plan that not only meets your specific needs but also ensures the long term security and prosperity of your family. Whether you need assistance in setting up trusts, planning for long term care, or minimizing estate and income taxes, we are here to provide the tailored solutions you require. Let us help you secure your legacy and achieve peace of mind for the future. Schedule a consultation today and take the first step towards a secure and prosperous future for you and your loved ones.