A bare-bones estate plan will typically include a will, and advance health care directives may be included as well. If you are not familiar with the latter documents, they are used to prepare for possible incapacity. One of the directives is a a durable power of attorney for health care or health care proxy. This […]
Estate Planning
How Do I Set Up a Special Needs Trust?
There are different ways to get assets into the hands of someone after you pass away. A method that is acceptable for one person may be disastrous for another. With this in mind, lets look at inheritance planning for people with disabilities and the special needs trust. Need-Based Government Benefit Eligibility In the United States, […]
What Is the New York Estate Tax Cliff?
Before we take a look at the New York estate tax and the so-called “cliff,” we should provide a brief explanation of the federal estate tax. This tax can definitely take a bite out of your legacy, but fortunately, most people do not have to pay the tax. This is because there is a credit […]
Why Would You Need a Lawyer to Create an Estate Plan?
Some people do not understand why you would need an estate planning lawyer. How hard is it to express how you want your assets to be distributed in a will? In reality, there is a lot more to it, and we will provide an explanation in this post. Protect Your Young Family As a layperson, […]
Estate Planning: When Will You Act?
The studies that are conducted consistently show that two-thirds of American adults do not have wills or trusts in place. Curiously, most of these folks say they know that estate planning is important, but they have been procrastinating. This brings up an important question: If you are among the unprepared, when will you finally put […]
How Do I Title Thee…Part 1
We often consider Estate Planning documents such as a Will, Trust, Property Power of Attorney, and health care documents to be the building blocks of an Estate Plan. While a necessary and important part of Estate Planning, thinking of the documents as the starting point for an Estate Plan skips several important steps. This article is the first in a two-part series. The first part examines the various ways to hold title to assets and the second part examines the effect that title may have on an Estate Plan.
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