FOR BREAKING NEWS VISIT www.queenscourier.com may 2, 2013 • HEAlth • The Queens Courier 3 FREE SEMINARS ON WILLS & LIVING TRUSTS FREE SEMINARS ON WILLS & LIVING TRUSTS Queens Law Firm Reveals 3 Major Mistakes That Could Cost Your Protect Your Home, Bank Accounts and Savings Family Everything!from New York and Federal Estate Taxes Act Now to learn the secrets to protecting your family home and nest egg from lawsuits & creditors Queens Law Firm Reveals Steps to Protect Your Assets During These Tough Economic Times EXCLUSIVE BY MICHAEL DAVIDOV DAVIDOV & DAVIDOV, P.C. The funeral is only the start of your family’s problems. Even though you’ve worked hard your entire life and saved up something you’d like to pass on to your family, they may end up with nothing. You can spare your family a second round of grief. Keep reading and we’ll share just 3 critical reasons your family may be facing difficulties. Our names are Michael Davidov and Ilana Davidov, and we have reviewed countless wills and trusts here in New York. Recent legal trends cause us great concern. In this article, we’d like to highlight just some of the issues which may affect your family. Risk #1 - Lost in Probate Court Chances are high your estate is going to wind up in probate court. In probate court they decide if your will is valid, try to settle disputes, distribute your assets to your heirs, and settle any outstanding issues. Probate court is a very lengthy process and it may take several years until your will clears probate. Another problem is everything about your will is in the public record so virtually anyone has access to every single detail of your finances. Finally, your heirs don’t get their share of your estate until Uncle Sam and the lawyers get their share which can be very expensive. For example, in New York, assets over 1 million may be taxed as high as 16%. But there is a way to pass on your entire estate regardless of its size– to your loved ones while legally avoiding probate and minimizing or eliminating New York and Federal Estate Taxes. We’ll show you how to do this at an upcoming free seminar. Risk #2 - Not Protecting Yourself or Your Estate You’ve worked hard your entire life and you’d like to pass on your estate to your loved ones. But unless you quickly take action, there may be nothing left for your family. Statistics reveal you are six times more likely to become disabled before you die. The US Government Census Bureau expects the disability rate to double in the next decade. Yet most people plan their wills for what will take place after their death. This is a serious mistake. Very frequently we see plans people have made for their heirs become undone because of the need for long term nursing care. This year the national average for a nursing home stay is almost $84,000 per year, while the average nursing home stay in NYC is $131,000 per year. It’s been reported that more than 500,000 seniors a year go broke because of these longterm care costs. Before Medicaid picks up a dime, your assets may be exhausted. You may die and leave nothing to your heirs. Risk #3 - Not Protecting Your Family Most people fear once they’re gone their spouse and kids will be taken advantage of by creditors, lawsuits or divorce or squander the estate with foolish financial decisions. Most wills and trusts we’ve examined do nothing to protect against these risks. Many wills and trusts give your assets outright to your heirs when you and your spouse are gone. This is a huge mistake. If one of your goals in establishing a trust was to protect your family, your work may have been in vain. There are three principal issues of concern with regard to protecting your family. Skyrocketing Divorce Rate With the divorce rate hovering at 50%, you cannot afford to ignore another very real danger. In New York, a divorcing spouse can walk away with 50% of your assets if things are not properly handled. You worked your entire life to build up a nest egg and planned carefully to make sure it was transferred into the right hands. You don’t want a sizeable chunk of it to end up in the “soon to be ex” in-law. Irresponsible Behavior Sometimes protecting your family means protecting individual members from their own irresponsible behavior. Perhaps there is a young person in your family who has not fully matured yet and may take the money you saved and squander it in one afternoon. There are simple ways around this problem we will detail at our free seminar. Special Needs Relatives If you have a child or grandchild with special needs and this child inherits wealth from your estate–all of the government benefits will stop immediately. Your gift may cause them a double problem–first the loss of services, and then when their money rapidly runs out, the inability to arrange for a resumption of government services. We’ll show you how you can look after your special needs family member even after you are gone. Free Seminar reveals a Better Way If you are concerned about making sure the money you’ve earned goes to your loved ones without going through probate you owe it to yourself to attend our upcoming Free Legacy Wealth Planning Seminar. At this seminar, we’ll highlight some of the most common risks you’ll want to consider and show you how to protect yourself and your family. Here’s What You’ll Discover We’d like to invite you to join us at an upcoming Legacy Wealth Planning presentation. In this workshop, you’ll find out what a “bare-bones” estate plan is and how dangerous it can be for your family. The most common remark we hear after these seminars is that most people are amazed at how exposed their family was. Some people might even be a little angry their planner didn’t advise them of many of these issues. The good news is that it’s not too late to fix the problem and get the real peace of mind you deserve. Seating Is Limited, Call (718) 793-7000 Today! 24-hr Reservation Line or Register Online www.DavidovLaw.com LEARN ABOUT THE 2013 ESTATE TAX LAW CHANGES Your family’s troubles only start with the funeral. Even if you think you’ve taken care of your family with a will or a living trust, recent legal activity shows your family could lose most or all of your estate. Our free seminar will reveal if your family is at risk and how to fix the problem if they are. Reserve Your Seat EXCLUSIVE HOWARD BEACH Tuesday, May 7th, 2013 10:00 A.M. Vetro Restaurant 164-49 Crossbay Boulevard GLENDALE Tuesday, May 7th, 2013 3:00 P.M. Atlas Park Community Room 8000 Cooper Avenue, Room 8312 (Near Simply Fondue) DOUGLASTON Wednesday, May 8th, 2013 10:00 A.M. Douglaston Club 600 West Drive COLLEGE POINT Wednesday May 8th, 2013 6:30 P.M. Cascarino’s 14-60 College Pointe Boulevard BAYSIDE Saturday, May 11th, 2013 10:00 A.M. Adria Hotel and Conference Center 221-17 Northern Boulevard (Light Refreshments Will Be Served At Each Seminar) SPONSORED BY: 108-18 Queens 7th Floor Forest Hills, NY 11375 Attend one of these seminars and receive a FREE 1-hour consultation by Michael Davidov and Ilana Davidov Davidov law group The funeral is only the start of your family’s problems. Even though you’ve worked hard your entire life and saved up something you’d like to pass on to your family, they may end up with nothing. You can spare your family a second round of grief. Keep reading and I’ll share just 3 critical reasons your family may be facing difficulties. My name is Michael Davidov, and I have reviewed countless wills and trusts here in New York. Recent legal trends cause me great concern. In this article, I’d like to highlight just some of the issues which may affect your family. Risk #1—Lost In Probate Court Chances are high your estate is going to wind up in probate court. In probate court they decide if your will is valid, try to settle dis putes, distribute your assets to your heirs, and settle any outstanding issues. Probate court is a very lengthy process and it may take sev eral years until your will clears probate. Another problem is everything about your will is in the public record so virtually anyone has access to every single detail of your finances. Finally, your heirs don’t get their share of your estate until Uncle Sam and the lawyers get their share which can be very expen sive. For example, in New York, assets over $1 million may be taxed as high as 16%. But there is a way to pass on your entire estate regardless of its size—to your loved ones while legal ly avoiding probate and minimizing or eliminating New York and Federal Estate Taxes. I’ll show you how to do this at an upcoming free seminar. Risk #2—Not Protecting Yourself Or Your Estate You’ve worked hard your entire life and you’d like to pass on your estate to your loved ones. But unless you quickly take action, there may be nothing left for your family. Statistics reveal you are six times more likely to become disabled before you die. The US Government Census Bureau expects the disabili ty rate to double in the next decade. Yet most people plan their wills for what will take place after their death. This is a serious mistake. Very frequently we see plans people have made for their heirs become undone because of the need for long-term nursing care. This year the national average for a nursing home stay is almost $71,000 per year. It’s been reported that more than 500,000 seniors a year go broke because of these long-term care costs. Before Medicaid picks up a dime, your assets may be exhausted. You may die and leave nothing to your heirs. Risk #3—Not Protecting Your Family Most people fear once they’re gone their spouse and kids will be taken advantage of by creditors, lawsuits or divorce or squander the estate with foolish financial decisions. Most wills and trusts I’ve examined do nothing to protect against these risks. Many wills and trusts give your assets outright to your heirs when you and your spouse are gone. This is a huge mistake. If one of your goals in establishing a trust was to protect your family, your work may have been in vain. There are three principal issues of concern with regard to protecting your family. Skyrocketing Divorce Rate With the divorce rate hov ering at 50%, you cannot afford to ignore another very real danger. In New York, a divorcing spouse can walk away with 50% of your assets if things are not prop erly handled. You worked your entire life to build up a nest egg and planned care fully to make sure it was transferred into the right hands. You don’t want a sizeable chunk of it to end up in the hands of a “soon to be ex” in-law. Irresponsible Behavior Sometimes protecting your family means protecting individual members from their own irresponsible behavior. Perhaps there is a young person in your family who has not fully matured yet and may take the money you saved and squander it in one afternoon. There are simple ways around this problem we will detail at our free seminar. Special Needs Relatives If you have a child or grandchild with special needs and this child inherits wealth from your estate—all of the government benefits will stop immediately. Your gift may cause them a dou ble problem—first the loss of services and then, when their money rapidly runs out, the inability to arrange for a resumption of govern ment services. We’ll show you how you can look after your special needs family member even after you are gone. Free Seminar Reveals a Better Way If you are concerned about making sure the money you’ve earned goes to your loved ones without going through probate you owe it to yourself to attend our upcoming Free Legacy Wealth Planning Seminar. At the seminar, I’ll high light some of the most com mon risks you’ll want to consider and show you how to protect yourself and your family. Here’s What You’ll Discover I’d like to invite you to join me at an upcoming Legacy Wealth Planning presenta tion. In this 90-minute sem inar, you’ll find out what a “bare-bones” estate plan is and how dangerous it can be for your family. The most common remark I hear after these seminars is that most people are amazed at how exposed their family was. Some people might even be a little angry their planner didn’t advise them of many of these issues. The good news is that it’s not too late to fix the prob lem and get the real peace of mind you deserve. Seating Is Limited, Call (718) 793-7000 Today! 24-hr Reservation Line or Register Online www.DavidovLaw.com LEARN ABOUT NEW 2011 ESTATE TAX LAWS! Reserve Your Seat HOWARD BEACH Tuesday, October 26 10:00 am – 12:00 pm Vetro Restaurant 164-49 Crossbay Boulevard MIDDLE VILLAGE Tuesday, October 26 6:30 pm – 8:30 pm Bel Mondo 79-32 Metropolitan Avenue DOUGLASTON Thursday, October 27 10:00 am – 12:00 pm Douglaston Club 600 West Drive COLLEGE POINT Thursday, October 27 6:30 pm – 8:30 pm Cascarinos 14-60 College Pointe Boulevard BAYSIDE Saturday, October 29 10:00 am – 12:00 pm Adria Hotel and Conference Center 221-17 Northern Boulevard Light Refreshments Served Sponsored by: • Estate Planning • Elder Law • Special Needs Planning www.davidovlaw.com DAVIDOV LAW GROUP Preserving Your Legacy & Peace of Mind 108-18 Queens Boulevard, 7th Floor Forest Hills,11375 Attend one of these seminars and receive a FREE 1-hour consultation © AAEPA Your family’s troubles only start with the funeral. Even if you think you’ve taken care of your family with a will or a living trust, recent legal activity shows your family could lose most or all of your estate. Our free seminar will reveal if your family is at risk and how to fix the problem if they are. Attorney Advertising
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