New York Estate Planning Lawyer | Law Office of Inna Fershteyn and Associates, P.C.

For over 26 years, estate planning attorney Inna Fershteyn has helped New York City clients create estate plans that protect your family’s assets, reduce your tax liabilities, and help you plan your retirement and long-term care. Since 1998, the Law Office of Inna Fershteyn and Associates, P.C. has worked with thousands of clients. Inna Fershteyn’s, outstanding record has earned the firm over 250 positive reviews online and trust from clients across the five boroughs and beyond.

With experience in both complex and simple cases, our wills, trust and estate law firm is well equipped to help you create and execute a comprehensive estate plan that puts your needs first and reflects your wishes. Inna Fershteyn will actually become not just your estate lawyer but also your friend and trusted advisor for years to come, as evidenced by her amazing, very personal video reviews. Her deep familiarity with the New York Courts ensures that clients receive informed and effective legal representation throughout the estate planning process, providing peace of mind at every step.

What is Estate Planning?

Estate planning is the process of making important decisions about how your assets will be distributed after you pass away and who will manage your affairs if you become incapacitated. In simple terms, it ensures that your money, property, and personal belongings go to the people or organizations you care about, according to your wishes.

Under New York estate law, estate planning helps you decide who will inherit your assets, who will take care of minor children, and how your healthcare and financial matters will be handled if you're unable to make decisions yourself. This process can also address concerns about minimizing taxes, avoiding family disputes, and providing for loved ones. An experienced estate planning lawyer will help ensure these decisions are documented clearly and in compliance with the law, allowing you to avoid the lengthy and costly probate process in New York’s Surrogate Court.

Many mistakenly believe that an “estate plan” is a single document with a standardized format drawn up by an attorney. It’s not. An estate plan is a highly individualized set of documents created by a trust and estate lawyer based on your unique situation and circumstances.

Other common misconceptions are that estate plans are only for the wealthy or those in their later years of life. This is also a false assumption. Who can define “wealthy,” and who can predict when their last year of life will occur?

Important Estate Planning Documents You Need

Will: A legal document that outlines how your estate will be distributed after your death.
Durable Power of Attorney: Grants someone the authority to make financial decisions on your behalf if you become incapacitated.
Healthcare Power of Attorney: Appoints a trusted individual to make healthcare decisions for you if you’re unable to do so.
Living Will: Specifies your wishes for medical care in the event you’re facing certain serious medical conditions.
Revocable Living Trust: A flexible estate planning tool that allows you to determine how your assets will be distributed after your death, while helping to avoid probate.

Estate Planning Services Tailored to Your Needs

Creating long term security for your family takes more than just financial and retirement planning. New York estate planning attorney Inna Fershteyn will use her immense knowledge of estate planning, wills, trusts, and estate law to draft documents tailored to your needs.

Creating a Will or a Trust: Craft personalized estate plans, including wills and trusts, healthcare proxies, and durable power of attorney forms, to ensure your future is secure and your assets are protected. Wills and trusts allow you to control how your assets are distributed and can prevent disputes among heirs.
Elder Law: Elder law focuses on the unique legal needs of seniors, including planning for long-term care, avoiding nursing home placement, and making sure you are eligible for Medicaid home care. This service ensures your family can avoid costly care options and protect your assets.
Probate & Estate Administration: Estate planning streamlines the administration of your estate in the event of death and ensures a smooth probate process through the New York Surrogate's Court. With proper planning, you can reduce the burden on your loved ones and expedite the distribution of your assets.
Estate Litigation: Estate litigation deals with disputes involving wills, trusts, or the distribution of assets. If a will is contested or another dispute arises, we’re here to help ensure that your rights are protected, and that you receive what’s rightfully yours.
Advance Health Care Directives: Health care proxies and advance directives allow you to designate a trusted individual to make medical decisions on your behalf. These documents ensure your healthcare wishes are followed if you become incapacitated.
Asset Protection Estate Planning: Protect your estate from creditors and nursing home costs by creating irrevocable asset protection trusts. This planning can shield your assets from unforeseen financial challenges while also minimizing tax liabilities.
Guardianship: By planning ahead with New York healthcare proxy and durable power of attorney forms, guardianship issues can be avoided or simplified, ensuring your wishes are followed without the need for a court-appointed guardian.
Long-Term Care and Nursing Home Planning: With proper planning, you can protect your assets from the high costs of nursing home care and create a roadmap for your future care needs. This helps secure the financial future of your family while ensuring you get the care you need.
Medicaid Planning & Applications: We assist with the preparation of Medicaid applications and pooled income trusts to ensure you qualify for Community Medicaid and receive home care services when needed. We also work with financial advisors and home care agencies to make your planning complete.
Nursing Home Representation: If you or a loved one encounter legal issues related to nursing home care, we provide representation to protect your rights and ensure you receive proper care without financial or legal complications.
Designating Power of Attorney: Designating a power of attorney allows a trusted person to manage your financial affairs when you are unable to do so. This document gives your agent the authority to handle everything from paying bills to managing investments.
Creating a Healthcare Proxy: A healthcare proxy allows you to appoint someone to make medical decisions for you when you are incapacitated. It ensures that your healthcare preferences are honored, even if you can’t speak for yourself due to illness or injury.

Supplemental or Special Needs Trust: A Special Needs Trust (SNT) protects the assets of a disabled individual while allowing them to remain eligible for Medicaid and other government programs. This tool is crucial in ensuring long-term care and financial stability for those with special needs.

To help you with the above, Ms. Fershteyn uses her immense knowledge of estate planning and trust and estate law to draft documents based on her clients’ needs. The Law Office of Inna Fershteyn and Associates, P.C. and Associates, P.C. will help you make sure all of your wishes are accounted and planned for in advance.

"In my experience as an estate planning attorney for over two decades in New York, I have handled hundreds of cases as Principal attorney out of our New York City offices. I will help you plan, settle and manage your affairs, build confidence in your family’s future, ensure your long-term health plan is clear, and prepare each and every estate planning document you need so that you are safe, secure and in the best position possible to face the future. And most importantly I will become your trusted friend and advisor for the years to come.” – Inna Fershteyn

Request a WILL or TRUST consultation! Flat Fee Retainers Available. Call (718) 333-2394 Today.

Devoted to Estate Plans. Dedicated to Clients. We Create, Maintain and Update Estate Plans in New York.

Planning your estate involves difficult decisions about private matters related to the disbursement of property and assets. Our NY estate planning lawyer Inna Fershteyn, Esq. will work closely with you to develop an estate plan that will address your concerns, which may include:

Disposition of your estate
Asset protection, asset management & the division of assets
Health care decisions
Guardianships
Tax considerations
Retirement plan

If you reside in the New York area, the five estate planning documents below will provide the foundation for your estate plan. If you already have these documents, we suggest reviewing them and making sure that they are up to date with New York estate tax laws as changes do occur.

Do you have an Estate Planning question? Call us at (718) 333-2394 or contact us online or via Chat below for an immediate Estate Planning Consultation with a 5 Star rated estate planning attorney Inna Fershteyn, Esq.

The Law Office of Inna Fershteyn and Associates, P.C. now offers virtual consultations over Zoom for all clients who would like to meet with our Top Estate Planning Attorney in New York, Inna Fershteyn. Whether you live out of state/out of the country or have a disability that’s preventing you from physically visiting our office, you can still seek legal advice in every aspect of yours or ones representation whether it be preparing a will, trust, advance directives, probate petition, or obtaining a Medicaid Sponsored Home Care Aid.

Recent estate planning document signing with clients

How Inna Fershteyn Will Personally Guide You Through Your Estate Plan: Steps We’ll Take Together

When you work with Inna Fershteyn, you’re not just hiring an estate planning attorney, you’re gaining a trusted partner who will work closely with you every step of the way. Inna personally reviews every detail of your estate plan, taking the time to get to know you, your family, and your unique needs. She is available by phone for direct communication and ensures prompt responses to your questions. Her goal is to make the process as smooth and stress free as possible, always keeping you informed and comfortable with each decision.

No two estate plans are alike, and Inna will carefully walk you through the following steps to ensure your plan is tailored to your goals and priorities:

Inventory property to determine what you own and what you owe, helping you see a clear picture of your financial landscape.
Understand how your property is owned, so you know exactly what needs to be planned for and how it will be passed on.
Name beneficiaries and ensure your assets go to the right people or organizations.
Identify strategies to avoid probate or reduce the property that must go through probate, saving your loved ones time and stress.
Create a will or draft your Last Will and Testament, ensuring your wishes are clearly documented.
Use trusts, if necessary, to provide flexibility and protection for your estate and your heirs.
Evaluate insurance policies to ensure they align with your overall estate plan.
Identify strategies to minimize taxes and expenses, preserving more of your estate for your loved ones.
Select professionals to assist with any specialized areas of your estate plan, ensuring everything is covered.
Review and update your plan as your life changes, making sure it always reflects your current wishes.
Plan for funeral and burial expenses, so your family isn’t burdened with difficult decisions during a time of grief.
Ensure liquidity of assets, making sure there is enough cash available to pay any outstanding debts.

Inna is committed to guiding you through these steps with care and attention, ensuring that your estate plan is comprehensive, well organized, and customized to your needs. This will not only protect your assets but will also ease the burden on your loved ones, so they can focus on healing during difficult times. You can trust that with Inna Fershteyn, there will be no costly mistakes, only thoughtful planning designed to give you peace of mind.

Want to ensure your estate plan is secure and free from costly mistakes? Discover the 6 most common estate planning mistakes and how to avoid them by reading our detailed article. Click here to learn more and protect your assets and loved ones today!

Most Frequently Asked Estate Planning Questions

What Happens If I Die Without a Will?

If you pass away without a will, your estate will be subject to the laws of intestacy in your state. Intestacy laws determine how your assets are distributed, typically favoring close family members, such as spouses, children, and parents. The exact distribution varies from state to state, but it often excludes friends, unmarried partners, and more distant relatives. Without a will, you also have no control over who manages your estate, potentially leading to delays and complications in the distribution process. Creating a will allows you to specify your wishes and ensure your assets are distributed according to your preferences.

Can I Change My Will After It's Been Created?

Yes, you can typically change your will after it's been created. In legal terms, these changes are known as "amendments" or "codicils." To make changes to your will, you can create a new document that outlines the revisions you want to make. It's essential to follow the legal requirements for amending wills in your jurisdiction, which often include signing the changes in the presence of witnesses. Alternatively, if you want to make significant changes, it might be more advisable to create a new will to ensure clarity and avoid potential conflicts. Keep in mind that it's essential to consult with an attorney when modifying your will to ensure that the changes are legally valid.

Do I Need an Attorney to Create an Estate Plan?

While it's not an absolute requirement to have an attorney create your estate plan, it is highly recommended and often a wise choice. Estate planning involves complex legal and financial matters, and an experienced attorney can provide valuable guidance and ensure that your plan aligns with your goals and local laws. An attorney can help you navigate the intricacies of wills, trusts, powers of attorney, and healthcare directives, tailoring the plan to your unique circumstances. This professional assistance can minimize the risk of errors or omissions in your estate plan, potentially saving your loved ones time, money, and stress in the long run. Ultimately, involving an attorney can help you create a comprehensive and legally sound estate plan that best protects your assets and fulfills your wishes.

When should I start on an estate plan?

The earlier you start on your estate plan, the better. Your estate plan will dictate who gets your assets such as your house, jewelry, automobiles, and bank account after your death. Having an estate plan allows you to place your assets into a trust and create a Power of Attorney and a Health Care Proxy to protect you both during your life and after death. While most people believe they should only create an estate plan when they get older, it is important to do so as soon as possible to be ready for life’s unexpected events.

Is Estate Planning Only About Wills and Trusts?

No, estate planning is not solely about wills and trusts. While wills and trusts are crucial components, estate planning encompasses a broader spectrum of considerations. It also involves powers of attorney, healthcare directives, guardianship designations, beneficiary designations, estate tax planning, charitable giving, digital asset management, and business succession planning. A comprehensive estate plan addresses all these aspects to ensure your wishes are protected and your assets are distributed as you desire.

Do I need a lawyer to create a will in New York?

Since a will is often the most contested document in estate planning, it is highly advisable to work with a lawyer to ensure that it is executed properly and meets all legal requirements. ⅓ of all wills are thrown out of court every year because of improper execution. Since NY probate process is extremely difficult, there is a high chance that your self- executed will will be thrown out of court as improperly done. Proper wills need to be witnessed by 2 witnesses and executed with a notary who needs to be a lawyer.

What is Pooled Income Trust and why do I need it in NY to get Medicaid?

A Pooled Income Trust is a financial mechanism used in New York to assist individuals in qualifying for Medicaid when their income exceeds the program's eligibility limits. You need it in New York for several key reasons. Firstly, New York has specific income thresholds for Medicaid eligibility, and if your income exceeds these limits, you won't qualify for the program. A Pooled Income Trust allows you to redirect excess income into the trust, helping you meet the income requirements and ensuring Medicaid eligibility. Additionally, by placing surplus income into the Pooled Income Trust, you can ensure it's used for qualified expenses, such as healthcare, without jeopardizing your Medicaid eligibility. This way, you can safeguard your income and still access essential medical services. A Pooled Income Trust is a vital tool in New York for individuals with income that surpasses Medicaid limits, enabling them to bridge the income gap and maintain access to essential healthcare services through Medicaid.

Is there a 5 year look back to receive Medicaid in NY?

Currently, there is no look back provision to receive Community Medicaid in NY. The lookback period of 5 years, only applies to Nursing Home Medicaid. New York state plans to implement a 2.5 year look back period for Community Medicaid on March 31, 2024.

What assets can I transfer into my Trust?

Any property real or personal can be transferred into the trust with the exception of the IRA plans and Life Insurance policies. Although you cannot transfer your IRAs into the trust there are ways to ensure that the IRA funds will be received by the beneficiaries even if the beneficiaries are minor children. An experienced estate planning attorney will explain the process to you in great details and complete all transfers into the trust in accordance with applicable state law. Law Office of Inna Fershteyn and Assoictates, P.C. represents clients in their estate planning even if the property is located in NY, NJ, PA, CT, FL, CA, WA and other states.

Why should I do the Trust? Can I just transfer the title to my real estate to my children?

It is never a good idea to just transfer a deed from one name to another. By transferring your assets outright you are not only making a gift which is a taxable event, but you are also incurring real estate transfer taxes and other fees that can be easily avoided with proper estate planning from an experienced trusts and estates lawyer in New York. Moreover, the person who receives a gift outright will automatically inherit donor’s tax basis on the property which could have appreciated in value significantly over the years. This will in turn cause capital gain taxes to be much higher than if the property were to pass to the same person through a Will or a Trust. The estate tax lawyer at the Law Office of Inna Fershteyn and Associates, P.C. can help you accomplish the same goal of transferring property to your loved ones and reduce tax burden, but do it as a tax exempt transaction and with minimal capital gains.

Will Medicaid take my house if I get into a nursing home or other long term care facility?

The answer depends on your particular situation. If you live with your spouse and only one of you gets into the nursing home without proper elder care planning in place, the house will remain in the other spouse’s possession during his life. However, the Medicaid can put a lien on the house if the proper Medicaid planning is missing. Thus, losing your home to pay back to Medicaid is a real possibility. At Law Office of Inna Fershteyn and Associates, P.C. we specialize in medicaid planning, elder law planning and asset protection for over 18 years. Our experienced attorneys will evaluate your long term care needs and will find optimal solution for you and your family to protect your estate from nursing home claims.

How long does it take to probate a Will? How much shall my beneficiaries pay to put my Will through probate?

In New York probating a Will may take anywhere from 12 to 18 months. Unfortunately Kings county probate is the most complicated and cumbersome process. Probate fees and expenses will depend on the value of the estate, and can range from $600- $10,000 depending on the amount of assets that estate has. Law Office of Inna Fershteyn and Associates, P.C. are experienced Kings county and New York county probate attorneys and have been representing clients in NY Surrogate court for over 18 years. Call our office at 718-333-2394 to save time and money on probate proceeding in the state of NY.

What is a difference between a Trust and a Will?

The simple answer to this question is a will has to undergo a process of “Probate” in the surrogate's court of the state where the decedent died, which is a long and complicated procedure no matter what state you are in. In New York, it takes over one year to probate the will and the cost of such probate can be as high as 6% of the value of the entire estate. The will is not valid unless it is probated and the letters of testamentary are issued. A Trust does not need to go through probate and allows your beneficiaries to get access to your estate immediately after the death of the settlor of the trust without going through any court proceedings. While it typically costs more to set up the trust than draft a will, a trust is a more cost effective way of owning your assets and allows one to pass its estate to the beneficiary without extra expenses of probate. A trust also becomes effective on the day of its creation while a will is only legal on the day when the Surrogates court “validates the will” and issues letters of testamentary.

When should I make updates to my estate plan?

It is recommended for you to update your estate plan every three years. An estate plan is made with your current assets and family size. As the years pass and you hit more milestones, you may have more children, buy property in different states and your executor, beneficiaries, and trustees may change.

How much does estate planning cost in New York?

The cost of an estate planning varies for each individual based on their assets, resources, and family set up.

Schedule A Consultation with a Top-Rated NY Estate Planning Attorney Now!

Law Office of Inna Fershteyn and Associates, P.C. understands that estate planning is personal. The best trust and estate lawyers in New York will work diligently to ensure that individual concerns are carefully addressed and goals are met. With our extensive knowledge of trust and estate administration, we will work with you to develop a comprehensive estate plan and offer knowledgeable guidance that will give you peace of mind as well as secure your family’s future.

For estate planning help in New York City, contact us today! Call (718) 333-2394 to set up a consultation or contact us online.

Estate Planning Case Closed

January 30, 2024

A client scheduled an estate planning consultation to better understand how he can protect his assets from creditors and how to pass his assets to his family without probate. He came in with a will that he wrote himself that highlighted the distribution instructions as well as the assets he wished to add to his estate plan. However, as he spoke to attorney Inna Fershteyn, he realized that a trust would be a more beneficial entity in his case as it would allow him to avoid probate fees, taxes and will contest. Attorney Inna Fershteyn then discussed the appointment of execution, the distribution of assets, and revocable living trust.

March 31, 2023

A client who was an airline pilot for a major airline company was separated from his wife and had two minor children ages five and seven. He was afraid that if anything should happen to him, his children would be left without a financial guardian and with an estranged wife who was not good with finances. We helped our client set up a family trust, name a successor trustee, and name a financial guardian for the kids. We also prepared a healthcare proxy and a power of attorney in the event that the client’s health deteriorated to a point where he was no longer able to make decisions and care for his financial affairs.

The client was very happy and left us a 5 star video review.

January 25, 2023

One of our clients wanted to leave an inheritance to his children and a few charities close to his heart. Attorney Inna Fershteyn drafted two separate trusts: one included the client’s family as beneficiaries, while the other was solely intended for distribution to designated charities. The attorney worked closely with a financial advisor specifically appointed to help the client transfer all of his real estate properties into their specified trusts.

November 17, 2022

A client approached us with a desire to draft a document that would bypass the probate process. The attorney suggested a trust, an asset protection plan that is considered to be a non probatable asset. To further protect the client’s assets, the attorney drafted an irrevocable trust. Once the document was executed, the attorney created a Tax ID No. for the trust and transferred the client’s assets into it.

October 6, 2022

A client’s father passed away with his name on the deed for their house that was worth $1.5 million. He was survived by his second wife and two kids from a prior marriage. The client was concerned that if and when the step–mother passes away, her step–kids will not receive their share of the father’s estate because they are not the step mother’s blood relatives. Additionally, there was a concern for potential estate litigation because the step–mom’s relatives did not want her late husband’s blood children to inherit any fortune. The step–mom also wanted to leave a part of the estate to her own two sisters who had kids of their own.

With these challenges in mind, our office took all concerns into account and created a comprehensive estate plan for the family focused on protecting the late father’s blood children to avoid probate and any potential challenges in court.

We created a revocable living trust, left a share of the estate to each child, and reserved one share to the step–mother’s sisters. Together with a will, living will, health care proxy, power of attorney, and revocable trust, we ensured that when the step–mother dies, the estate will be directly inherited by the appropriate beneficiaries. Most importantly, this plan ensured that probate and any litigation measures would be avoided, while also avoiding potential tax consequences.

ESTATE PLANNING CLIENT TESTIMONIALS

“Inna is the top Trust and estate attorney . Very nice and professional, very knowledgeable and easy to communicate with.” -Margaret G.

“I found Inna when I was searching for an estate attorney. At my consultation she immediately understood my concerns as a new single mother and told me how to best address them. I not only felt confident in Inna's abilities, I also felt comfortable with her and her staff. After retaining her, her office promptly drafted trust documents, which I appreciated. I highly recommend her, and would use her again for any future needs.” - Loulia F.

“After hours of searching for an estate planning attorney for my parents, Inna clearly stood out - her reviews (of which there were hundreds of 5 star reviews) were amazing, and I knew that my parents would be in good hands with her… If I could give more than 5 stars, I would!” – Daniel G.

"There is no one I would trust more than Inna to handle my families estate planning.… The paperwork was all done very efficiently, not to mention her services were very fairly priced. If I ever need legal advice or any services for me or my family, I definitely will be coming to Inna again!" - Jen K.

"Did our estate planning/trust with Inna. She is very knowledgeable, professional and explains very clearly. Would recommend her to everyone and will sure to be back in the future. Thank you!!!" - Elvira I.

"I came to Inna Fershteyn office with my parents to do our family's estate planning. We are very impressed by how attorney conducts her business and her knowledge. She was very direct and straight to the point. I would definitely recommend her office to anyone who is looking for attorney's help." – Anton L.

“Inna is an amazing lawyer. She helped us with asset protection and estate planning for our estate in New Jersey. She was highly recommended by our CPA and we are very happy to take his advice. She is a responsible and pleasant individual. Highly recommend.” -Peter F.

ESTATE PLANNING ARTICLES

Serving NYC, Brooklyn, Bronx, Queens, Staten Island & Manhattan

The Law Office of Inna Fershteyn and Associates, P.C. has a deep knowledge of New York estate law and we are able to provide a full range of estate planning services and tools for estates of all sizes. Contact Inna Fershteyn today to arrange your initial consultation with our Principal attorney by calling (718) 333-2394 or contacting us online here. We are Licensed to practice law in New York and New Jersey.

Our Office Location
Law Office of Inna Fershteyn and Associates, P.C.
Address: 1517 Voorhies Ave 4th Floor, Brooklyn, NY 11235
Phone: (718) 333-2394
Hours: Monday – Sunday Open 24 hours

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Directions By Subway

Take the "B" or “Q” train to Sheepshead Bay Road stop, the office is located half a block from the Sheepshead Bay Road train stop at BMT Brighton Line next to Avalon Brooklyn Bay Building and next to Columbus Medical Institute of Brooklyn building between East 15th and 16th street at 1517 Voorhies Avenue.For the latest train departure information timetable for the B and Q train, visit MTA.info.

Directions By Bus

Take the B49 Bus to Ocean Avenue and Voorhies Avenue stop and walk to East 15th street, the law office will be on the right side.

Bus: B36, B4, B49

Parking

Municipal parking lot Sheepshead Bay #2 is located at 1602 Voorhies Ave, Brooklyn, NY 11235 between East 15th and East 16th street on Voorhies Avenue

Nearby Main Roads

Shore Parkway and Sheepshead Bay Rd.