Estate Planning
Whether you need a simple Will or a complicated tax-sheltered Trust, we are here to help. The estate planning process begins with a personalized consultation where we can discuss your goals and existing planning (if any). Based on our consultation, we recommend the plan that is best-suited for your needs. We also believe in providing all clients with drafts of planning documents to ensure that the finished product best expresses their wishes and accomplishes their goals. We are committed to explaining your plan to you in a manner that you can understand. We are also pleased to work with your accountant and/or financial advisor, if you wish.
For clients with taxable estates, we can assist you in creating a plan to minimize estate taxes as your wealth passes on to your ultimate beneficiaries. For family business owners, we can also assist you with ensuring the smooth succession of your business upon your retirement or death while minimizing transfer taxes.
In addition to planning for the succession of assets upon death, we can assist you with executing documents (Power of Attorney, Health Care Proxy, Living Will, etc.) to ensure management of your health and finances by trusted loved ones during your lifetime.
Estate & Trust Administration
Unfortunately, those close to us sometimes pass away. We are available to represent next-of-kin and nominated Executors with all legal matters incident to handling a decedent's Estate. These services include Administration Petitions (appointment of a relative to manage the Estate), Probate Petitions (admission of the Will to probate and appointment of the named Executor), collection of assets, dealing with beneficiaries and creditors of the Estate or Trust, income and estate tax filings, tax audits, and final distribution of the Estate or Trust.
Surrogate's Court Proceedings
In addition to the services listed above, we also represent Executors, Administrators, Beneficiaries, Distributees, and Creditors of Estates and Trusts when issues arise. These services include:
Representing the nominated Executor when an interested party challenges a Will
Representing interested parties in challenging a Will
Actions by family members and beneficiaries to remove an Executor, Administrator,
or Trustee for misconduct
Motions by Administrators, Executors, and Trustees to resign
Voluntary and Compulsory Accountings
Representing Executors/Administrators when attempting to recover the assets of the decedent
Representing beneficiaries when attempting to recover assets from an Executor, Administrator, or Trustee
Disputes between Trustees and beneficiaries concerning discretionary and mandatory payments
Kinship hearings to demonstrate an individual as a family member with inheritance or objection rights
Motions to create Supplemental Needs Trusts to preserve government entitlements for disabled beneficiaries
Guardianship Proceedings
When a person becomes unable to make personal and financial decisions for him- or her-self, a guardianship proceeding may be the only available method to properly deal with their affairs. If the proceeding is successful, the Court will appoint a Guardian to manage the incapacitated person's affairs.
We are available to represent Petitioners and Cross-Petitioners (those seeking to have a Guardian appointed) and Respondents (those who are alleged to be incapacitated) in both routine and contested guardianship proceedings. We are also available to represent Guardians and family members in ongoing matters long after the appointment of a Guardian.
Planning for Parents with Disabled Children
Parents who have disabled children, whether the children be minors or adults, have special concerns. In addition to the general estate planning services described above, these clients must consider both the identity of the caregiver upon their death and the availability of funds to finance that care. In addition, parents must consider whether an inheritance by their child could terminate government entitlement programs (such as Medicaid and SSI) which finance the lion's share of the associated costs. Through the combination of careful planning and appropriate trusts (such as a Supplemental Needs Trust), these parents can ensure the best possible and funded care for their children.
We are also available to assist caregivers of disabled individuals after the death of a caregiver parent or family member.
Residential Real Estate: Buying & Selling Coops, Condos & Houses
With over thirteen years of real estate experience including past representation of mortgaging banks and handling the purchasing and selling of scores of cooperative apartments, condominium units, vacant land and residential houses, Caraway and Sciacca, LLP, is prepared to provide you with efficient professional service and personal attention whether you are buying your first studio, your dream penthouse, trading up or down, moving in or out of the area, selling your property or the real property of an estate or investing.
For purchasers, we help you navigate the review of the financials or “due diligence” for any building or corporation you may be buying into, negotiate the contract to your agreement, make sure the property has clean title and/or is clear of liens, represent you at the closing and provide a detailed closing statement which you will need for your accountant. We will work cooperatively with your broker, bank and title company to make sure there are no loose ends on closing day.
For Sellers, we strive to negotiate the best possible contract for you. And, once again, work cooperatively with your broker, bank and title company so that all is in order for closing. We will see to it that your transfer taxes are filed and will work cooperatively with your accountant for the pre-payment of estimated capital gains on your sale if your deal so requires. We also work with your title company to clear the title or liens for your property as necessary. As with all deals, you will receive a detailed closing statement which accounts for all proceeds received and every penny spent for your particular transaction.
Further, our ability to handle the sale of real estate held by estates represented by Caraway & Sciacca, LLP, makes those transactions all the more efficient. We are experienced in clearing title and liens that attach to properties during the administration and probate of estates so that the closing will be smooth and as painless as possible.
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