When an estate is being transferred, the inheritors are receiving income in a sense, so people have questions about income taxes on bequests. In addition to this situation, you may have heard about estate taxes and inheritance taxes. All this can get pretty confusing, and in this post, we will provide the facts so you […]
You may hear people talk about probate avoidance when the topic of estate planning is casually discussed. This is the legal process of estate administration, and it will enter the picture when personally held assets are being transferred through the terms of a will. In New York, the Surrogate’s Court handles probate matters, and this […]
There are different approaches that can be taken when you are planning your estate. The right way to get assets into the hands of one person may not be appropriate for the next. This dynamic will definitely be present if you have a person with a disability in the family. Government Benefit Eligibility A very […]
If you want to be able to leave a suitable legacy to your loved ones, you have to avoid extreme costs that can have devastating impact late in your life. Nursing home bills would fit this description, and unfortunately, Medicare does not cover custodial care. Medicaid will pick up the tab if you can gain […]
The simple will is the estate planning document that everyone has heard about, but many people harbor misconception about wills. In this post, we will share four important pieces of information about these documents so you can go forward with a renewed understanding. Basic Requirements Obviously, you can use a will to state your wishes […]
There are various different estate planning approaches that can be taken. The ideal choice will depend on the circumstances, and this is why you would do well to work with an attorney when you are putting your plan in place. As a layperson, why would you know all the options that are available to you? […]
Everyone knows that estate planning has a financial element at its core. Clearly, you must take steps to make sure that your assets wind up in the hands of your heirs after you pass away. The best way to go about this will vary on a case-by-case basis, and we examine vehicles of asset transfer […]
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. For example, if you have a beneficiary with special needs, you must take special care. Read on to learn more.
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. Read on to learn more.
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky.Read on to learn more.