If you live in Manhattan, you may assume your estate will automatically be taxed. After all, property values are high, and the rules sound complicated. The reality is that far fewer estates are subject to federal or New York estate tax than most people think. Still, understanding the deadlines and the state’s unique rules is […]
Estate Planning
Does a Power of Attorney Apply If I Become Incapacitated?
Many New Yorkers sign a power of attorney, thinking they are covered if incapacity strikes. But does it really work that way? The answer depends on the type of power of attorney you sign and whether you have other planning documents in place. In a city like Manhattan, where the cost of care and the […]
Does the Court Appoint an Estate Executor?
When a person passes away in New York, someone must step in to handle their financial and legal affairs. Bills need to be paid, assets must be gathered, and property must eventually be distributed to heirs. The person in charge of this process is called an executor or, if no will exists, an administrator. Because […]
Professional Estate Planning: An Investment That Pays Dividends
You work hard to build your life, accumulate assets, and support the people you love. Estate planning gives you the legal tools to protect those efforts and direct what happens next. But the value of your plan depends on how it’s built and who helps you build it. When you work with a Manhattan, NY […]
What’s the NY Estate Tax Exclusion Cliff?
If you live in New York and have a sizable estate, you need to understand the so-called estate tax exclusion “cliff.” This phenomenon can have a huge impact on your legacy, so you should understand the facts. What Is the NY Estate Tax Exclusion? New York’s estate tax applies to estates exceeding a specific threshold. […]
Legacy Planning: Share a Piece of Your Heart
As you reach an advanced age, you may find that you are at peace with your mortality. However, the thing that may bother you the most is the fact that you will no longer be there for your loved ones. There is no getting around this fact of life, but when you plan your estate, […]
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