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New York City Estate Planning Legal Blog

Passing that beloved vacation home to your children

The family cabin up north, right on the lake and away from the hustle and bustle of the city, is a source of treasured memories for parents and children. It's natural to want to pass that gift on to ensure future generations can enjoy it in the same way.

So how do you go about it? Here are a couple of steps you should consider taking.

What is an advanced directive and why should I consider it?

Planning for the future can be a daunting task, especially when you don't even know where to start. One question to remember to ask is who makes decisions for you if you can't make them for yourself?

One of those decisions could be related to advanced directives. Advanced directives are legal documents that state how medical decisions should be made if you become incapacitated.

Tips To Help Find The Right Elder Law Attorney For Your Needs

The current legal market is shifting from one where a single individual can handle almost any legal issue to a market that requires specialization. Much like the medical field, these days it is common for each attorney to have a specialty. As a result, just like you would not go to a cardiologist to treat a broken foot, it is generally best to avoid asking a family law practitioner about your estate planning needs.

5 Estate Planning Documents To Update When You Remarry

A second marriage brings unique estate planning needs. Although some may view the need to discuss an estate plan as a relatively morbid topic, the discussion can prompt a conversation about future goals.

How Do Taxes Work For Irrevocable And Revocable Trusts?

Whenever money is involved, odds are high the Internal Revenue Service (IRS) is also involved. One example involving estate planning is the use of trusts. Trusts are essentially legal tools that govern the distribution of certain funds. This piece will discuss how the IRS taxes two main types of trusts: revocable and irrevocable.

Two Important Things To Know About Irrevocable Trusts

An irrevocable trust is a legal tool that can help shelter funds from creditors. A wisely structured trust can help to better ensure an intended heir not only receives their inheritance but also gets an inheritance that is protected from attempts by creditors to claim ownership interest in the funds.

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Connors & Sullivan attorneys at law, pllc

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