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.
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.
Families with a high net worth may use a Family Limited Partnership (FLP) as part of their estate plan. This legal structure can be designed to provide three distinct advantages:
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.
Estate planning plays a vital role in protecting your loved ones and your legacy. Unfortunately, common estate planning myths can push people down the wrong path when it comes to protecting their wishes and their family.
An elder law attorney is a legal professional that specializes in the issues that arise as we age. These issues can include the transfer of the power to make financial or health care related decisions and planning for long-term care needs.
The "Queen of Soul" died last August. At the time of her passing, her heirs were not aware of an estate plan. Now, months after her passing, handwritten wills were recently discovered in her home.
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.
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.
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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We have office locations in Brooklyn (Bay Ridge), Manhattan (Midtown) and Queens (Middle Village, Bayside).
Explore our map to find the location nearest to you, or see our full list of locations below. We look forward to hearing from you.
Brooklyn Office
7408 Fifth Avenue
Brooklyn,
NY
11209
Phone:
718-414-6209
Fax:
718-238-2616
Brooklyn Law Office Map
Bayside Office
200-20 Northern Boulevard
Bayside,
NY
11361
Phone:
718-414-6209
Phone:
718-225-7200
Bayside Law Office Map
Middle Village Office
79-43 Metropolitan Avenue
Middle Village,
NY
11379
Phone:
718-414-6209
Middle Village Law Office Map
Staten Island Office
1250 Hylan Boulevard
Staten Island,
NY
10305
Phone:
718-414-6209
Staten Island Law Office Map
New York Office
880 Third Avenue
New York,
NY
10022
Phone:
718-414-6209
Phone:
212-737-2700
Phone:
212-235-1339
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