Year after year, surveys show that most American adults do not have an estate plan. One survey asked unprepared respondents if they thought that estate planning was important, and over 60 percent of them said yes. Why do they fail to act when they know that they should? The most common reason is a simple […]
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Manhattan Long-Term Care Costs Increased Significantly in 2021
As an elder law firm, we pay close attention to the state of long-term care costs because most seniors will need paid living assistance eventually. Medicare does not pay for the custodial care that in-home caregivers and nursing homes provide, so this is not the financial solution. Genworth Financial is a company that sells financial […]
Estate Planning Mistakes Can Damage Your Legacy
We sometimes speak with people that have been negatively impacted by the estate planning mistakes of their deceased loved ones. These situations are disturbing because they could have been easily avoided. In an effort to spread awareness, we are going to share a few of these commonly made estate planning errors in this post. Automatic […]
The Evolution of our Unified Estate and Gift Tax System
Many individuals think that if their estate is below a certain amount that they need not be concerned with Estate Planning. As this article demonstrates, because the Estate Tax evolves constantly, it’s important to talk with a professional to create a plan to accomplish your goals. Read on to learn more.
Traditional IRA Changes Are on the Horizon
On December 20, 2019, the SECURE Act was enacted. It changed some of the individual retirement account parameters, and more adjustments are on the way. We will look at them in this post, but first, we will review the contents of the original SECURE Act. Elimination of the Stretch IRA From an estate planning perspective, […]
On a Flight With an Estate Planning Lawyer
Imagine getting into a conversation with the person sitting next to you on a cross-country flight. She tells you that she is an estate planning lawyer, and she is willing to answer questions that you may have about the process. This would be a great opportunity to walk away with some very useful knowledge, so […]
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