For more than 35 years, KGG has recognized that an effective, expertly prepared estate plan is one of the best gifts that you can give to your family and loved ones. An unplanned or poorly planned estate can take a terrible toll on those for whom you have the most concern. That toll may involve unnecessary taxes or avoidable litigation.

Headed by John Chakan, KGG’s Wills, Trusts and Estates Department can help arrange your affairs and prepare the documents needed to achieve your intended results in the most effective ways. Mr. Chakan has more than 37 years’ experience in estate planning and administration. He is a frequent speaker on these subjects and on legal matters of concern to senior citizens. When litigation is not avoidable, Mr. Chakan aggressively represents our clients’ interests, with a strong record of success.

Do I Really Need A Will?
The answer emphatically is yes! If you die without a Will, the laws of your State will determine the distribution of your assets, and the local Surrogate’s Court will select the person to manage your estate and will choose the persons to raise your children. If you are married, your spouse may not inherit all your property, unless you take steps to make that happen. Having a Will as part of a comprehensive estate plan may significantly reduce, and often can eliminate, federal and State estate taxes. For anyone with young children or a disabled beneficiary, the lack of a Will can cause great inconvenience and cost. A well-written Will may be the best way to provide benefits for a non-family member or for your grandchildren (instead of for your children). Although it is possible, and sometimes even desirable, to use one or more “Will Substitutes” to dispose of your property, if those techniques are used wrongly, your best intentions may be undone. Contact our Wills, Trusts and Estates Department for an appointment. We would be pleased to help you develop and implement an effective estate plan

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Avoid Bitter Estate Litigation
Most often, estate litigation results when a Will makes an “unusual” disposition. The most common situations giving rise to Court cases are these:

• Disinheritance of a child or children.
• Unequal treatment of members of a class.
• Reliance on verbal agreements or promises outside the Will.
• Marital separation without divorce.
• Second marriages without a pre-nuptial agreement.
• Alternate lifestyles.
• Substantial gifts to Charity or other non-family members.

If your estate plan involves one or more of these situations, we can advise you about creating the necessary record in support of your wishes and about alternative ways either to avoid potential Will contests entirely or to make them virtually unwinnable by the objecting heir or heirs. 

I’ve Heard That It’s Important to Avoid Probate. Is that true?
For persons living in New York or New Jersey, probate (i.e., having a Will established as valid and having an Executor appointed) usually is simple, relatively quick and easy, and not terribly expensive. Once probate is obtained, the Court generally ceases to be involved in the administration of an Estate, although it is available to resolve disputes or if need otherwise arises. In a relatively few specific situations, significant delays and costs (which must be borne by our client’s heirs) are almost assured. In those cases, we do recommend the use of one or more “Will Substitutes” (such as a Revocable Living Trust), which will shift the cost from the estate administration side to the planning side, but serve a legitimate purpose.  Avoiding probate, by itself, is not a good reason to base your estate plan on the use of a Will Substitute.

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Attorney Profile: John Chakan