Estate Planning Attorney on Long Island
Michael Gulotta is a Estate Planning Attorney on Long Island that combines charisma, dedication, and pragmatism to help people during some of the most difficult times in their lives. After graduating from the top New York State University at Geneseo, Michael earned a Bachelors of Arts in Psychology with a Philosophy minor. Michael then graduated from Touro College Jacob D. Fuchsberg Law Center in 2014 with his Juris doctorate and became a member of the New York State Bar Association.
Early in his legal career, Michael represented children in family court, protecting their rights through negligence, abuse, custody, and visitation proceedings while also defending criminally accused juveniles. From there, Michael joined the Suffolk County Supreme Court Law Department. During this time, he researched and analyzed legal issues while drafting confidential proposed opinions in civil actions regarding matters in real property, motor vehicle accidents, labor law, and negligence.
Michael makes sure that the name “Gulotta” is not soon forgotten in the legal community. Upon the death of his father, Anthony, Michael immediately took over the practice, giving life to the new firm, Gulotta & Gulotta, PLLC. Continuing the prodigious Gulotta legacy, Michael strives to ensure Gulotta & Gulotta, PLLC is a place where members of the community can seek help with their legal troubles. Michael enjoys the same hard-earned respect and reverence as his father did within the legal community, and he uses every resource available to make sure that his clients are well taken care of.
What Are The 5 Components Of Estate Planning?
Estate planning can seem like a daunting task. With so many things to consider, knowing precisely what you should include in your plan can be challenging. Our estate planning attorney on Long Island at Gulotta & Gulotta is here to help you understand the integral components of your estate plan and provide you with options that benefit your circumstances. Continue reading to discover the five components of estate planning.
What Are The 5 Components Of Estate Planning?
When you picture estate planning, you likely think it is drafting a will. However, several components must be included to ensure that your assets are transferred appropriately upon incapacitation or death. Here are the five elements of estate planning:
- Will – A will is a binding document that dictates who will receive your assets and property in the event of your death. The will names an executor who will carry out your directions. If you have minor children or other dependents, it will name a guardian who will care for them should you become incapacitated or die.
- Trust – Trusts are legal arrangements through which a trustee holds the title to property on behalf of a beneficiary. The individual setting up a trust can dictate when and how the beneficiaries receive the assets. The two types of legal trusts are revocable and irrevocable. A revocable trust allows you to retain control over your assets in the trust with the freedom to change the terms or revoke them at any time. With an irrevocable trust, the assets in it are no longer yours, and you can’t make any changes without the beneficiary’s consent.
- Power of Attorney – A Power of Attorney is the individual you designate to manage your affairs and step in should you become ill. This person can make crucial financial decisions on your behalf. Without a POA, the court is left to decide what happens to your assets.
- Medical Directives – Similar to power of attorney, a medical directive designates someone to make healthcare decisions for you if you are unable to do so. The two documents in this directive are a living will and a healthcare proxy. A living will provides instructions for your medical care should you become terminally ill. A healthcare proxy is an individual who will make decisions on your behalf if you become incapacitated.
- Beneficiary Designations – These designations dictate who will receive your benefits when you pass. When you create your estate plan, you should make sure that you regularly review your designations to ensure they are up to date.
Contact Our Estate Planning Attorney on Long Island
Life can take several unexpected turns, so it’s best to be prepared with a well-executed estate plan to ensure all of your assets and affairs are in order. At Gulotta & Gulotta, our estate planning attorney on Long Island will help you draft your estate plan and help you secure you and your family’s future. Be sure to contact us today to learn more and request a consultation!
Estate Planning Must-Haves
When people think of estate planning, they likely think of simply drafting a will. However, there is so much more to include to ensure all of your assets are transferred seamlessly upon your incapacitation or death. At Gulotta & Gulotta, our estate planning attorney on Long Island would like to share some essential estate planning must-haves! Continue reading to learn more!
Estate Planning Must-Haves
Estate planning is not something that is reserved for the wealthy. Individuals can benefit from ensuring their finances and assets are appropriately managed after death. Several specific documents are necessary, so working with an estate planning attorney on Long Island is crucial to ensure a successful plan. If you’re wondering if your estate plan measures up, here is a helpful checklist to ensure no decisions are left to chance:
- Letter of Intent – A letter of intent is a document left to a beneficiary or executor. The purpose of this document is to declare what you want to be done with an asset after your incapacitation or death. These letters can provide special requests or funeral details.
- Wills and Trust – A will or trust is essential to every estate plan regardless of your assets. A will ensures that your property is distributed according to your wishes.
- Power of Attorney – A durable power of attorney (POA) is essential so the person you assign will act on your behalf if you cannot do so. Without a POA, the court may decide what happens to your assets.
- Healthcare Power of Attorney – A healthcare POA designates an individual to make crucial healthcare decisions on your behalf should you become incapacitated.
- Beneficiaries – Designating a beneficiary is essential to ensure your possessions are passed on to your heirs.
A will is only the beginning of your estate planning journey. Estate planning is essential to ensure your family members and other beneficiaries are provided for and have access to your assets.
Contact Us: Estate Planning Attorney on Long Island
Sometimes unexpected circumstances in life occur. It’s best to be prepared and have a well-executed estate plan in place so that you can be confident that all of your affairs are in order. At Gulotta & Gulotta, our team will help you draft your estate plan and keep you prepared. Be sure to contact our estate planning attorney on Long Island today to learn more and request a consultation!
Contact Our Estate Planning Attorney on Long Island
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Tips to Pick the Best Real Estate Lawyer for You
The process of buying or selling a property can be overwhelming. With a sea of paperwork and documentation, navigating this endeavor on your own can be challenging. At Gulotta & Gulotta, our Estate Planning Attorney on Long Island helps protect your best interest when buying or selling a property and enables you to avoid any unforeseen financial losses. Our team would like to share some tips for finding the best real estate lawyer for you, so continue reading to learn more!
Tips To Pick The Best Real Estate Lawyer For You
Hiring a real estate lawyer can help you prepare and interpret the contracts and documents related to buying or selling your property. Here are some valuable tips and tricks for selecting the right Estate Planning Attorney on Long Island for you:
- Choose a Real Estate Lawyer – This may seem like an obvious tip, but not every lawyer is equipped to help you in real estate. Real estate legislation is highly complex and constantly changing, and our experienced Estate Planning Attorney on Long Island has handled numerous cases like yours.
- Look for Experience – Experience is vital when selecting a lawyer. Our attorneys will review potential risks and pitfalls associated with your pending purchase or sale. With several years of experience, Gulotta & Gulotta can provide you with sound guidance and advice during the course of your transaction.
- Find an Involved Lawyer – Many attorneys do not utilize a hands-on approach for their cases. Our real estate lawyer will work closely with you through the tedious process of buying or selling property. Our vast network of mortgage brokers, agents, and other professionals can assist you in nearly every facet of your transaction.
- Look at Firm Reviews – Many online resources allow clients to leave reviews of attorneys they’ve hired to represent them in differing legal matters. Gulotta & Gulotta currently has over 40 5-Star reviews on Google My Business, so you can trust that your case is in qualified and capable hands.
Contact Us
The staff at Gulotta & Gulotta is well-versed and knowledgeable about several different aspects of real estate law. To learn more information or schedule a free consultation, be sure to contact our Estate Planning Attorney on Long Island today!
Tips For First-Time Home Buyers
Purchasing a home for the first time is an exciting yet daunting achievement. While becoming a homeowner is a huge accomplishment, it can also lead to many complications that can make you feel overwhelmed. At Gulotta & Gulotta, you will have an experienced Estate Planning Attorney on Long Island to guide you through this complicated process. Continue reading to learn more about tips for first-time home buyers!
Tips for First Time Home Buyers
Becoming a homeowner is a rewarding experience and something to be proud of. You can build your credit, receive tax benefits, build home equity, and more! However, great benefits also come with great risks. To ensure that you are making the right choice when purchasing a home. You should also have a Estate Planning Attorney on Long Island to assist you. To avoid some of these risks, follow some of these tips below:
- Applying for a Mortgage: Try to get pre-approved for a mortgage. Several lenders provide higher payments than needed, so shop around to see your best offer.
- Real Estate Broker: A real estate broker will be another helpful individual to help you find your dream home in a location that you desire.
- Down Payment: First-time home buyers are given different options with their down payment, which depends on the cost of the home. Your real-estate lawyer will provide you with all of the information and assistance programs you’re entitled to.
- Make an Offer: Once you have found your dream home and consulted with your real-estate attorney, make an offer!
- Independent Inspection: It is recommended that you state you will not continue with the contract if you are unhappy with the inspection results performed by a qualified engineer or architect.
Benefits of a Real-Estate Lawyer
These are a few of the many things you need to know when purchasing a home for the first time. When you have a Estate Planning Attorney on Long Island, your lawyer will take a lot of tedious tasks. We will assist you when determining the best down payments, closing costs, and much more. Our lawyers will develop a contract that protects your interests. We want to make this process as simple as possible for you!
Contact Us: Estate Planning Attorney on Long Island
If you’re a first home buyer, you must have the proper assistance when purchasing a home. At Gulotta & Gulotta, we have dedicated professionals to ensure you’re getting the best deal at a competitive price to save for your home. If you are interested in obtaining a Estate Planning Attorney on Long Island, contact us and schedule your first appointment.