Each year, Caring.com questions people about their estate planning preparedness or lack thereof, and they have completed their 2024 study. In this post, we will share some of the results, and they paint a compelling picture. No Improvement One trend is very persistent year after year: there is never any significant improvement. For the last […]
Estate Planning
A Pet Trust Can Facilitate Responsible Pet Ownership
As elder law and estate planning attorneys, we focus on challenges that people face when they attain senior citizen status. Unfortunately, loneliness is one of these difficult situations. When you start to reach an advanced age after you have retired, you do not have regular interactions with your coworkers. Your family members may live busy […]
Is There an Inheritance Tax in New York?
An inheritance tax is a tax that is levied on distributions to each individual nonexempt inheritor when an estate is being administered. There is no federal inheritance tax, and there are five states in the union that have state-level inheritance taxes. States With State-Level Inheritance Taxes There are state inheritance taxes in Kentucky, Nebraska, Pennsylvania, […]
Avoid Probate to Preserve Your Privacy
Estate planning ensures that your assets are distributed according to your wishes, but there are nuances. One aspect that is often overlooked is how probate can impact your privacy. Probate is a public process, meaning anyone can access details about your estate. Fortunately, there is a solution in the form of a revocable living trust. […]
Is DIY Estate Planning Effective?
Many people like to take on do-it-yourself projects to save money, and they can also be a hobby of sorts. Without question, there’s a lot of useful information on the internet, and there are YouTube videos that provide step-by-step instructions in many cases. There is nothing wrong with adopting a “can-do” attitude in a general […]
NYC Estate Planning: How Will You Transfer Your Assets?
Estate planning involves preparing for the transfer of your assets after you pass away. To ensure your resources are distributed according to your wishes and to minimize potential conflicts and taxes, it’s crucial to understand the different methods of asset transfer. Additionally, working with an NYC estate planning lawyer can help you navigate these options […]
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