You may wonder why “elder law” is an area of legal specialization. Why would an older person have different legal concerns than someone that is younger? This is a logical question, and we will endeavor to answer it in this post. Long-Term Care Expenses There are certain challenges that can present themselves when people reach […]
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Transfer On Death Account: Can I Use This To Avoid Probate?
A transfer on death account is a tool that you can incorporate into your estate plan. Below, we talk about exactly what a transfer on death account is, how it works, and everything else you need to know to plan your estate and protect your family’s future. Before we look at transfer on death accounts, […]
State Income Taxation of Social Security Benefits
The pandemic has had a long-lasting influence on our culture, including encouraging relocation at previously unheard-of levels. Imagine the surprise of a recently relocated retiree who discovers that their previously untaxed Social Security benefits are now included in their taxable income at the state level. Taxation of these benefits could have a serious impact on their lifestyle and may provide a less beneficial financial picture than was first thought. Want to know whether your state taxes Social Security benefits?
What Is a Totten Trust?
You sometimes receive advice from people that have good intentions, but they have an incomplete understanding of the subject at hand. When you blindly believe what they say, you can make mistakes that yield negative consequences. This is quite common in the estate planning realm. There are those that suggest simple solutions that may not […]
Five Things You Should Know About Probate
Probate is the legal process of “proving up” a Will in the state of New York. If you have never looked into the subject, you may assume that the executor that is named in a will can distribute assets to the inheritors without any government supervision. In fact, this is not the case at all. […]
Are You Prepared for Your Twilight Years?
Everyone knows that you have to state your final wishes regarding the way you want your assets to be distributed when you are planning your estate. That facet is important, but a properly constructed plan should include another component. Once you are old enough to collect Social Security, your life expectancy is over 80 years. […]
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