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The Future Belongs To Those Who Plan For It Today.

Estate Planning For New York City Real Estate Owners

Your New York City home and investment properties are likely your most valuable assets. This means it is critical to properly address your property in your estate plan.

When you need an estate planning attorney for New York City real estate, the team at Wheatley Pritchard & Associates PLLC can provide assistance. Our lawyers will review your real property holdings and determine the best way to protect these assets in a comprehensive estate plan.

Addressing The Challenges Of Different New York City Real Estate Assets

The type of property you own can have an impact on determining the ideal estate planning strategies to preserve real estate equity and prevent probate complications. Our experienced estate planning attorneys can help you address many different real estate matters, including:

  • Co-op properties and condominiums: A co-op board may need to approve transfers, even if you name a beneficiary in a will or trust. You may need to review proprietary leases or plan carefully to help a co-op home or condo bypass probate with a living trust and appropriate beneficiary designations.
  • Brownstones and townhouses: You may need help preserving a home for multi-generational ownership to maintain a family legacy or minimizing capital gains taxes if beneficiaries sell. Qualified Personal Residence Trusts (QPRTs) and real estate succession planning could help you address these concerns.
  • Multi-family homes and investment properties: Business succession planning is often important for managing income-generating properties. LLCs, Family Limited Partnerships (FLPs) and business continuity plans can help with leases, preserve income streams, limit transfer taxes and shield properties from creditors.
  • Properties held by LLCs or other entities: Ensuring the succession of your business interests, minimizing transfer taxes and continuing asset protection after your death may require detailed operating agreements, buy-sell agreements and the inclusion of the business in your estate plan.

We can also help with property transfers and title issues, facilitating a smooth transfer of title to beneficiaries, while addressing any property liens and adjusting vesting to allow for a seamless transfer.

Secure Protection For Your Most Valuable Assets

Do not discount how working with the estate planning attorneys of Wheatley Pritchard & Associates PLLC can help protect your New York City real estate and empower you to control your legacy. Contact our lawyers to create customized solutions based on your real property holdings. Call us at 347-815-1219 today or submit our online contact form for a consultation.