Many adult children worry about the health and safety of their aging parents. This is especially true in cases where a parent's mental capacity begins to deteriorate. When a parent exhibits symptoms that are readily associated with dementia or Alzheimer's, it's...
Divorce triggers important estate planning changes
By now, most New York City residents have likely heard about former NBA player Lamar Odom's recent serious health scare. After being found unconscious due to a suspected drug overdose, Odom was rushed to a Nevada hospital where doctors reportedly questioned whether or...
Is an incentive trust right for you and your family?
Every parent wants their child to succeed and do well in life. To help steer a child towards or keep a child on what a parent considers to be the right path, a parent may offer an incentive to help a child out financially. For example a parent may agree to pay a...
The importance of planning for long-term care needs
As an individual ages and moves through different stages in life, there are always concerns that must be addressed and questions answered. For individuals nearing retirement, chief concerns often relate to ensuring for one's own financial security as well as that of a...
How do annual gift exclusions work?
If you've just started putting your estate plan together, then you likely have a lot of questions. Don't worry. You're not alone. Properly laying out an estate plan takes time and a lot of effort on your part. It also requires a deep understanding of the law as well,...