Trusted With Estate Planning
by Three Generations

Trusted With Estate Planning by Three Generations


Keeping It Simple for Your Family

Estate planning is not just about the distribution of assets; it’s about ensuring your wishes are carried out and your loved ones are cared for, both if you become incapacitated and after you’re gone. A comprehensive plan addresses all aspects of your estate, from wills and trusts to powers of attorney and healthcare directives. It truly helps keep it simple for your family when you are no longer able to.

Frequently Asked Questions About Estate Planning

A will is a legal document that outlines how you want your assets distributed after your death. It names one or more persons who you want to serve as your executor. Having a will is essential for ensuring your wishes are honored. If you have minor children, you can also use a will to designate guardians. Without a will, state laws determine how your assets are distributed and other legal issues are handled. Note that a will requires probate in order to give effect to the wishes expressed in your will.

Trusts are estate planning tools that hold assets for beneficiaries under the terms you set. They offer more control over asset distribution and can provide tax benefits and protection from creditors. Trusts can be revocable (changeable) or irrevocable (permanent). Having a trust helps to avoid probate, keep your estate matters private, and keep it simple for your family and other beneficiaries.

Asset protection involves structuring your estate in a way that minimizes the risk of loss to creditors or lawsuits, as well as protecting inheritance for the life of your beneficiaries from their spouses, creditors, and spendthrift habits. This may include creating specific types of trusts or legal entities, re-titling assets, or other legal strategies to safeguard your assets.

Estate planning for blended families can be complex. It involves ensuring fair and intended asset distribution among biological children, stepchildren, and new spouses. It may require specialized and carefully drafted trusts to ensure that beneficiaries on both sides of the family are protected irrespective of which spouse dies first.

For families with minor children, estate planning is crucial and should include appointing guardians in the event of the parents’ untimely death, setting up trusts to manage the children’s inheritance, and planning for their education and living expenses. The rules of the trust and distributions guidelines will help to determine when your children are responsible enough to take control of their inheritance that will be safeguarded and applied for their benefit following your guidelines until then.

Planning for disabled beneficiaries often involves setting up a Special Needs Trust. This allows the beneficiary to receive inheritance without losing eligibility for government benefits like Medicaid or Supplemental Security Income (SSI), affordable housing, and other government programs and subsidies.

This involves strategies to minimize the tax impact on your estate and inheritance. It can include gifting assets during your lifetime, setting up certain types of trusts, and taking advantage of tax exemptions and deductions available now or in the future.

Wills are legal documents that only become effective after one’s death and often require probate, a legal process that can be time-consuming and public. In contrast, trusts can become operational during an individual’s lifetime and typically bypass the probate process. This key difference means trusts offer more privacy and can provide greater control over asset distribution, but they are generally more complex and expensive to establish and maintain compared to wills. Trusts are also more flexible, allowing for specific conditions on asset distribution, which is not as easily achievable with wills.

To ensure that your estate plan accurately reflects your current intentions and life situation, it’s important to conduct regular reviews and updates. This is particularly crucial following significant life events such as marriage, divorce, the birth or adoption of a child, or major changes in your financial status, like receiving a large inheritance or experiencing a significant increase or decrease in wealth. Keeping your estate plan updated helps in aligning it with your present circumstances and desires, ensuring that your assets are distributed as you wish and your family’s future is secured according to your latest plans.

A power of attorney is an essential tool in estate planning as it grants authority to a trusted individual to manage your financial and legal affairs in case you become incapacitated. This provision is vital for continuous management of your estate and ensures that your assets and personal affairs are handled according to your preferences, even if you are not in a position to make decisions or communicate your wishes. It provides peace of mind, knowing that someone you trust is legally empowered to act on your behalf, making crucial decisions that align with your intentions and benefit your estate and beneficiaries.

To safeguard inheritances for beneficiaries facing personal challenges such as marital disputes, financial instability, or spendthrift tendencies, establishing trusts with specific conditions is a strategic solution. These trusts can include provisions that protect assets from potential divorce settlements, creditors, or misuse. By setting up a trust, you can dictate how the assets are utilized, focusing on beneficial purposes like education, health care, or general welfare. Additionally, these trusts can be structured to provide periodic distributions instead of a lump sum, ensuring a steady and controlled disbursement of funds that align with the beneficiary’s needs and your intentions.

Various trusts serve distinct purposes in estate planning. Revocable Trusts offer flexibility and control, allowing you to alter or revoke the trust during your lifetime. They’re beneficial for privacy and avoiding probate. Irrevocable Trusts, once established, cannot be easily changed, providing strong asset protection and potential tax benefits. Special Needs Trusts are designed to support beneficiaries with disabilities without jeopardizing their eligibility for government assistance. Charitable Trusts allow for philanthropic contributions while offering tax advantages and fulfilling charitable intentions. Each type of trust serves a specific objective, whether it’s asset protection, tax planning, providing for a particular beneficiary, or supporting charitable causes, thus forming an integral part of a comprehensive estate plan.

Long-term care, especially in nursing homes, can be financially draining, making it crucial to strategize for asset protection. Purchasing long-term care insurance can provide coverage for these costs, alleviating the financial burden. Additionally, setting up a Medicaid Asset Protection Trust allows you to qualify for Medicaid while preserving your estate. These trusts must be established and funded well before they’re needed, as Medicaid has a look-back period for asset transfers. Other legal strategies may include converting countable assets into exempt ones, thereby reducing your estate’s value for Medicaid eligibility. This planning ensures that your hard-earned assets are protected and that you have access to the necessary long-term care without exhausting your estate.

A Health Care Power of Attorney is a vital legal document in which you designate a trusted individual to make medical decisions on your behalf if you become incapacitated. This appointed person, often a family member or close friend, will have the authority to make decisions ranging from routine medical treatment to more significant decisions like surgery or life-sustaining measures. This ensures that someone who understands your values and wishes can oversee your healthcare needs. It’s crucial to have open discussions with your chosen agent about your health care preferences, including treatment options and end-of-life care, to ensure they are well-prepared to make decisions that align with your wishes.

Advance directives are legal documents that articulate your wishes regarding medical treatment and end-of-life care. These include living wills, which specify the types of medical treatments you would or would not want in certain situations, and health care proxies or durable powers of attorney for health care, where you appoint someone to make medical decisions on your behalf if you’re unable to do so. These directives are crucial for ensuring that your preferences for life support, resuscitation, and other medical interventions are respected, especially in circumstances where you can’t communicate your decisions. They provide guidance to your family and healthcare providers, reducing uncertainty and stress during difficult times, and ensuring that your healthcare and life support preferences are known and honored.

Milvidskiy Law Group P.C. is a comprehensive estate planning and elder law and firm dedicated to guiding seniors and their families through a variety of legal challenges associated with aging. Our expertise covers a wide range of services, including wills and trusts, asset protection, elder care and Medicaid planning, estate and inheritance tax planning, trust and estate administration, business succession planning, special needs planning, and more.

Why Choose Us?

Why Choose Us?

  • Experienced Team: Our estate planning attorneys will help you determine the best route for your unique situation.
  • Personalized Solutions: Custom-tailored estate plans that cater to your individual needs.

  • Secure & Confidential Consultation: Your privacy is of the utmost importance to us.

What Our Clients Are Saying

Excellent5.0 Based on 63 reviews from ★★★★★ My husband and I had a very positive experience working with the Milvidskiy Law Group. They were very knowledge and professional and an overall pleasure to work with. I strongly recommend using this law firm.barbara W.barbara W. ★★★★★ This firm was wonderful and I highly recommend them. They took the time to explain everything to me as I set up my Estare plan. They answered all my questions and did not pressure me into anything I didnt want it need. I feel very at ease and relieved that this was taken care. I also know they remain there if I have any questions down the road. All I have to do is call. Best thing I did this year!!susan C.susan C. ★★★★★ I wanted to thank the Milvidskiy Group for making our Estate planning easy to understand with the help of their guidance. Laura Berkin and Pamela Carrea were great resources if we needed questions answered to aided us in the process. I would highly recommend this law firm to handle your estate planning. Thank YouPatricia P.Patricia P. ★★★★★ Everyone was so professional and provided very valuable information about estate planning an elder law that we needed for our family. I would highly recommend this firm they make you feel like family and truly care about their clients.Diana HDiana H ★★★★★ The Milvidskiy Law Group P.C. is extraordinarily talented in all aspects of estate planning. Mr. Milvidskiy began working on my plan by listening, asking questions and fully understanding my objectives. With great care and attention to detail, he created a strategy that fulfilled my wishes and protected my loved ones. Mr. Milvidskiy is not only skilled in his work but compassionate and caring. This attitude is reflected throughout his staff who are responsive to requests and are well-versed in the highest levels of customer service. I do not know anyone who enjoys thinking about wills, trusts and advanced directives, yet they are essential to the well-being of family and finances. The Milvidskiy Law Group makes these important questions easy to ponder as they guide the decision-making process. I am so happy that this task is accomplished and the peace of mind that I have is priceless.Venus M.Venus M. ★★★★★ Mr. Milvidskiy and his staffs are so professional and helpful all the time. I recommend them highly to anyone.Phoebi L.Phoebi L. ★★★★★ Attorney Milvidskiy is the best. He truly listens to your concerns, wants and needs. He explained everything to us and made sure we understood every aspect .I felt like family instead of a client. He is the best attorney I ever worked with. Highly recommend !Inna K.Inna K. ★★★★★ Milvidskiy team is the best. I’m so happy I found them in my time of need. From the very first meeting with the attorney I immediately knew there was someone to look out for my interest. Throughout the entire process, I was able to rely on them, sometimes receiving replies to my emails after hours or even on weekends. Everyone who works there is very knowledgeable but is also compassionate. They genuinely want to help and went above and beyond helping my family. Thanks to Andrey and his team, our situation is much better now.Alex C.Alex C. ★★★★★ Milvidskiy Law Group checks all the boxes for what you would want as you enter the complex world of irrevocable trusts. Mr Milvidskiy's exceptional listening skills, clear and concise communication skills, ability to translate complex concepts into simple examples/illustrations, and his visible commitment to overall 'attention to detail' excellence for himself and his staff has made this experience one I would highly recommend. His staff has excellent follow up, organizational, and communication skills. He also provided his book he wrote to me early on in the process as well as conducted a information rich webinar that acted as a strong foundation that quickly got us on the same page across many dimensions. As the trustee for my parents trust, I feel my parents and I are fully supported by this excellent law firm as we move forward with any ongoing management of the trust. Big thank you to the team at Milvidskiy Law Group.Christopher S.Christopher S. ★★★★★ They have been much more than a law firm. They held my hand. Andrey and his team helped me navigate the world of elder care for my mother who suffers from Alzheimer’s. They guided me through Medicaid and other issues most people are not familiar with. I would like to thank the attorney and his team for your patience and for compassion.Tory BTory B ★★★★★ Andrey helped me with my family's estate planning. He is very knowledgeable, respectful, was very professional throughout the entire process. I am very pleased with his services .Thank you.Irina MIrina M ★★★★★ My aunt used the services of Milvidskiy firm, and it was an amazing experience. Everyone is very professional and not trying to sell you a service, but rather help you to find a right solution.Ada AAda A ★★★★★ Milvidskiy law group is the best. the ladies that work there are alway very helpful. also the lawyers and their assistance are amazing. i would highly recommend this law firm.Sal B.Sal B. ★★★★★ We are new clients of the Milvidskiy Law Group PC.Mr. Milvidskiy and staff are wonderful. They listen to us regarding our Family Estate Plan., he reviews our Plan and where he feels important and necessary, he gives his input. When we have any questions or concern, he explains the answers to ue, patiently. We are happy with their professional services.William T.William T. ★★★★★ Estate Planning can be a complicated and technical endeavor for most individuals like myself and my wife. In additon, finding a competent Estate Planner can be equally difficult. However from the outset we were quickly assured that we had selected the right firm to handle all our Estate needs. Our attorney,Andre, and his assistant, Pamela, emphasized, that in order for a plan to be successful, it must be understood in it's entirerty and it needs to meet all the individual concerns of the client. In that vein technical aspects were explained in laymans terms and all our questions were not only encourgaged but answered fully to our satisfaction. We've had experiences with other law firms but by far we found the Milvidskiy Law Group to be Professional, Trustworthy, Experienced In the Law and Genuinely interested in the welfare of their clients. A1 in our book!!! Sal & Theresa MinieriSal M.Sal M. ★★★★★ I cannot write enough good things about this firm. They were prompt and effective in resolving my issue. Their team is the best. They get work done and at a very reasonable cost.Olga I.Olga I. ★★★★★ My husband and I couldn't be happier with the services provided by Andrey Milvidskiy and his associate, Pamela. We were looking for an attorney that we could relate to in formulating our Estate Plan to preserve our assets for which we’ve worked hard all of our lives. Having been a paralegal for over 20 years, I researched “elder care” attorneys for several months before we consulted with Andrey. Andrey provided guidance throughout the process of developing our Estate Plan, which put us at complete ease. His expertise in the field of elder law and estate planning coupled with his business and financial sense is unparalleled. I can’t recommend this law firm highly enough.Ron & Evelyn ColvinHackensackSeaside Q.Seaside Q. ★★★★★ Several years after the Law Group prepared my Will and other documents, I contacted them with several questions. I was please to find that they were ready and willing to answer all my questions and to reassure me that, since there were no changes in my situation, there was no need to update any of the documents. I was also please to learn that will be happy to answer any questions I may have in the future.George T.George T. ★★★★★ My wife and I considered other attorneys and even met some of them. We decided to use the Milvidskiy Law Group after our initial meeting. Everyone we spoke to our met with, was courteous, friendly, caring, and professional, from the receptionist to Mr Milvidskiy. We recommend you speak to or meet with this firm before making your decision on which estate planning attorney to use.Randy K.Randy K. ★★★★★ I was very impressed with the expertise of their attorneys and excellent customer service. It’s very rare these days to come across such compassionate people. Even though I realized how busy they were, every time I called, they made me feel like my family and I were the most important. They went above and beyond to help my family. Their professional and friendly staff was always there to help and answer my questions, which I had many, and I was never asked to pay a penny more for all the extra time I took. I wholeheartedly recommend this firm to anyone in need of an elder law attorney, whether for themselves or their parents.Alina U.Alina U. ★★★★★ Great experience great lawyers if you have a trust fund to set up these are the lawyers to see very satisfiedJerry H.Jerry H. ★★★★★ We were very impressed with the serviced we received from the Milvidskiy Firm. They were responsive and very professional. They delivered as promised. We highly recommend them! Their fees are quite reasonable.Rose F.Rose F. ★★★★★ Mr. Milvidskiy and his staff were extremely knowledgeable and helpful insetting up our complicated estate plan. They were always available toanswer all our questions and were very accommodating in meeting with us. I recommend them highly.Ellen G.Ellen G. ★★★★★ The Milvidskiy team was incredible and I am so grateful for their timeliness, compassion, and patience during such a difficult time for our family. During our time at the hospital, many people talked to us instead of speaking with us, however, their legal team was the exception. I am very impressed with how they navigated the tense situation with some of our family members and felt that their empathy was heartwarming. I will be forever grateful for their help ensuring our grandfather's wishes were listened to and will be honored.Thomas B.Thomas B. ★★★★★ I want to share my story or experience with Milvidskiy Law Group. A representative of the Law Group was ask to speak at my Church about Elder Law and how it applies to those of us that is of a certain age getting up in life. I was blown away about what I heard and make a decision to look in further more regarding what will happen to me if I’m in a position during illness or allocating personal possessions and can’t make a decision for myself. If you are elderly or have elderly parents I urge you to visit this Milvidskiy Law Firm because you will not regret what a clear and concise explanations of all your questions.It’s important to have plans in place and makes your wishes clear when you are not in a position to make decisions to avoid family feuds.My experience with everyone at this Law Firm was Professional, courteous, kind , experience and willing to answer all my questions that was pose to them. Finally I just want to say that I have peace in the decision I have made , knowing I have everything in place now.Anne FAnne F.Anne F. ★★★★★ I had a wonderful experience dealing with them, they are extremely professional and friendly. They are the best in business and helped me get the best possible solution. I recommend them without any reservation.Hashmeet K.Hashmeet K. ★★★★★ Very knowledgeable team, asking about all your needs and concerning questions. Mr. Milvidesky has assembled the best team of professionals to address the most complicated issues in favor of their clints. Thanks you all.Harendra G.Harendra G. ★★★★★ Mr.Mildviskiy went into details in term of our situation and our needs and designed the will which seemed best for our case.The follow up and additional questions were promptly answered and clarified.No boiler plate answers.Yves M.Yves M. ★★★★★ My husband and I met with Mr. Milvidskiy yesterday at his Paramus, NJ office after listening to his online webinar regarding estate planning. First, I must say that prior to the meeting I spoke with two of his assistants to prepare and be able to efficiently address our concerns. Both were pleasant, set a very professional tone and assured me that this complementary meeting had no strings attached. Since it it unusual for us to meet about such important matters with a person we found on the internet, we wanted to proceed cautiously.Well, this was my takeaway. Mr. Milvidskiy is a knowledgeable attorney who specializes in the complexities of estate planning and elder law in at least NJ and NY. He is a consummate professional and did not in any way try to "sell" us his services. In fact, he told us we didn't need him at this point, gave us a couple of useful ideas, and told us we were welcome to contact him in the future should our circumstances change.We were very happy to have met him, and would pass his name on to our daughter, should she ever need his counsel, as our heir. IMO, there is no substitute for having a knowledgeable person of integrity to turn to in planning important quality of life decisions. We would recommend him highly, with confidence.Steve B.Steve B. ★★★★★ My experience with the Milvidskiy Law Group was a positive one. They were always available to answer any of my questions. If I did have to leave a message or email a question/concern they would always respond back in a reasonable amount of time. I would recommend this Law group!Teresa W.Teresa W.js_loader

Schedule Your Free Discovery Phone Call

Select a day and time to speak with a member of our team to determine if estate planning is right for you. We will discuss if our firm is the right fit for you and your family to work on your estate planning needs.

Schedule Your Free Discovery Phone Call

Select a day and time to speak with a member of our team to determine if estate planning is right for you. We will discuss if our firm is the right fit for you and your family to work on your estate planning needs.