Wills

A custom written will permits you to dictate how your assets, personal belongings, and money gets distributed after your death. A will can be simple or complex, depending upon your desired scheme. Pinni Bohm, J.D., LL.M. in Taxation, will work with you to ensure the document is written exactly as you wish. He will also help you understand the relevant tax issues that pertain to your estate, and how to plan around them. Pinni Bohm, J.D., LL.M. (Tax), helps clients with their estate planning goals by applying the knowledge he obtained as part of NYU Law School's #1 ranked LL.M. in Taxation Program. You need someone with the tax & estate planning knowledge to help protect the financial interests of you and your loved ones!

Two elements sometimes included in a will are the Testamentary Trust and the Trust for Minors. The testamentary trust becomes active upon your death, and permits you to exercise control over the assets/funds through an appointed trustee. It is incredibly useful for managing your assets for the benefit of special needs beneficiaries. Trust for Minors is a type of testamentary trust where the appointed custodian manages the assets/funds until your child becomes an adult.

Included in Will Package is Simple Will, Power of Attorney, Healthy Proxy, and a Complete Execution Ceremony.

Will Package

Will Package for Single Person $2,000.00 USD ...with Testamentary Trust Element $2,500.00 USD ...with Trust for Minors Element $2,500.00 USD Will Package for Couple $3,000.00 USD

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Terms of Purchase

 

Trusts

People utilize trusts to ensure their assets are dealt with in the way they deem fit, whether during life and after death. A trust is structured so that the beneficial and legal ownership is split between two or more individuals or entities. For example, the trust assets could be legally owned by you and your best friend, while you are the sole beneficiary. Should you become incapacitated, your friend would be able to continue to manage your assets, as you and he always did, without obtaining any court order, but you would still obtain the benefit of the assets in the form of distributions made for your health, maintenance, and welfare. After death, the trustee could either distribute the assets to your intended beneficiaries outright, or he/she can continue to manage them for their benefit, depending upon how your trust was written.

While trusts are also frequently utilized to minimize taxes via sophisticated estate planning techniques, they could have many other benefits as well. Creditor protection provisions permit you to protect your assets from a child's creditors; control provisions permit you to dictate how the trustee spends the money for the beneficiary's benefit; and management provisions permit you to guide your trustee in investing and managing your assets.

With trusts, your testamentary plan would still very much be carried out, but in a private manner – your assets, testamentary wishes, etc., would not be viewable by the general public, unlike with a will. Additionally, trusts only require a notary to be executed, which makes the execution process MUCH SIMPLER. They are also much simpler to be amended at a later time should circumstances change. There are other benefits as well, such as permitting the assets to be owned by a continuing entity that could sell the property at any time; assets and funds would not be locked up in lengthy probate court proceedings, if necessary, without any objections by potential buyers, which will permit you to obtain the highest price for them. Lastly, trusts can also help your loved ones avoid significant probate costs.

Trust Package includes Living Trust, "Pour-Over" Will, Power of Attorney, Health Proxy, Basic Tax Advice, and Complete Execution Ceremony.

Trust Package

Trust Package for Single Person $3,000.00 USD Trust Package for Couple $3,500.00 USD Medicaid Asset Protection Trust for Single Person $3,500.00 USD Medicaid Asset Protection Trust for Couple $4,500.00 USD

Terms of Purchase

Sophisticated Estate Planning

The Bohm Law Firm assists people in transferring their assets to loved ones in the most efficient manner, as well as helping with end-of-life matters. Services provided include drafting wills, establishing assorted trusts, and lawfully avoiding Federal and New York transfer taxes. Pinni's extensive knowledge of the transfer tax systems in place at the state and federal level ensures his clients pay as little tax as possible under the law, while achieving all of their personal aims. Let us help you put together all the pieces of the puzzle in the way you desire!

CONTACT New York City Tax & Estate Planning Bohm Law Firm today for a free consultation with Attorney Pinni Bohm, J.D., LL.M in Taxation.

Categories of Estate Planning are as follows:

Wills

Pour-Over Wills: Distributes any remaining probate assets into an existing trust.
Joint Wills

• Trusts

• Revocable Trusts (Living Trusts)
• Irrevocable Trusts (Living Trusts)
• Testamentary Trusts: A trust created by your will at your death
• Asset Protection Trusts: Asset protection used to involve hiding assets offshore, where the local laws did not permit creditors to seize the assets. In recent years, however, U.S. states have begun to adopt similar legislations. Due to the full faith and credit provision of the constitution, it is very likely that even states without such laws must abide by the laws of such states, leading to an excellent way to protect your assets from future creditors.
• Income Trusts
• Spendthrift Trusts
• Educational Trusts
• Generation Skipping Transfer (GST) Trusts
  



• Gifting Plans

  • Irrevocable Life Insurance Trusts
  • GRATs (Grantor Retained Annuity Trusts)
  • GRUTs (Grantor Retainer Unitrust)
  • Pooled Income Trusts
  • Intentionally Defective Grantor Trusts ("IDGT")
    
  • Qualified Personal Residence Trusts (""QPRT")
  • Bypass or Credit Shelter Trusts
  • QTIP Trusts (Qualified Terminable Interest Property Trust)
  • Crummey Trusts
  • Animal Companion Trusts
  • Trust for Minors
  • Annual Exclusion Gifting
  • Estate and Gift Tax Exclusion Amount
  • Family Limited Partnerships “FLP” Formation
  • Limited Liability Company “LLC” Formation



• Corporation

  • S Corporation
  • C Corporation



• Charitable Giving Plans

  • CRATs (Charitable Remainder Annuity Trust)
  • CRUTs (Charitable Retained Unitrust)
  • Charitable Lead Trust
  • Private Foundations



• Post-Mortem Planning

Disclaiming Bequests
     - Within 9 months of decedent's death, it is possible for a beneficiary to disclaim any gift.
     -Purpose is to prevent unforeseen consequences, tax or otherwise, from occurring.
Handling the Unified Credit
Basis Adjustments
Election on Stock Valuations
Charitable Contributions
Retirement Plan Distributions


• Sophisticated Tax Planning

  Utilizing aforementioned structures, New York City's Brooklyn & Manhattan attorney, Pinni Bohm, J.D., LL.M. in Taxation, will ensure your taxes are minimized. Taxes minimized include income taxes, estate taxes, gift taxes, and generation skipping transfer taxes. Regardless of taxes, Pinni Bohm, Esq., will ensure your testamentary wishes are carried out without any complications.

  SURROGATE'S COURT SERVICES

  • Probating Wills
  • Estate Tax Returns, Extensions, & Audits
  • Representing Executors, Administrators, & Trustees
  • Representing Beneficiaries, Heirs-at-law, & Creditors
  • Locating & Obtaining Unclaimed Funds
  • Administering Estates
  • Informal & Judicial Accountings
  • Ancillary Proceedings (decedents residing out-of-state with in-state property, decedents residing in-state with out-of-state property)
  • Will Contests
  • Accountings
  • Contested Administration
  • Kinship Hearings
  • Relief Against a Fiduciary / Removal of Fiduciary Proceedings
  • Spousal Elective Share Disputes
  • Status Disputes (Disqualification, Paternity, and Spousal)