Individuals who have achieved professional success or inherited a significant legacy are likely to leave behind large estates when they die. They may worry about their children or other beneficiaries fighting over those resources. Litigation initiated by beneficiaries...
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How can an irrevocable life insurance trust benefit you?
Estate planning is a gift that you give yourself in the sense that it allows you to direct how your hard-earned assets are distributed after your death. However, estate planning is also a gift you leave behind for your loved ones to create some financial security...
Three estate planning documents to periodically review and update
Creating an estate plan often requires the consideration of unpleasant concepts. People have to think about what happens if they die early or if they have some medical emergency. Wills and other estate planning documents protect the legacy and loved ones of the...
Gifting, taxes and estate planning: What are the limits?
Lifetime gifting is a strategic component of estate planning, offering the dual benefit of expressing generosity towards loved ones while reducing the size of one's estate to potentially lower estate taxes. By transferring assets during their lifetime, individuals can...
The Estate Planning Documents to Periodically Review and Update
Creating an estate plan often requires the consideration of unpleasant concepts. People have to think about what happens if they die early or if they have some medical emergency. Wills and other estate planning documents protect the legacy and loved ones of the...
The estate planning process in 7 steps
Estate planning isn’t just about deciding what happens to your assets after you’re gone – although that is part of the process. Estate planning is sometimes overlooked as an important tool for personal financial management. Proper estate planning ensures that your...
What are Qualified Personal Residence Trusts?
Estate planning isn’t just something that matters once you are gone – it’s also a way to make sure that your life is stable while you’re alive. High-net-worth individuals looking to preserve their familial wealth and minimize estate taxes may want to consider a...
Understanding revocable trusts: What you should know
You have worked hard to acquire what you have and leave something behind for those you love – and good estate planning is crucial for ensuring that your assets are managed and distributed according to your wishes. One powerful tool for effective estate planning is the...
Can you disinherit a spouse in New York?
Disinheriting a spouse is a big decision that can have significant legal implications for many, particularly in states like New York where marital property laws are complicated. While the concept of disinheriting a spouse may seem straightforward, the reality is far...
Gifting, taxes and estate planning: What are the limits?
Lifetime gifting is a strategic component of estate planning, offering the dual benefit of expressing generosity towards loved ones while reducing the size of one's estate to potentially lower estate taxes. By transferring assets during their lifetime, individuals can...