Taxes are often a concern throughout someone's life, especially if they have achieved professional success. The more resources and income someone enjoys, the more tax obligations they usually have. Taxes do not simply end when someone dies. In fact, there are unique...
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Safeguard your blended family with a good estate plan
Blended families, where couples who have children from previous relationships marry, are increasingly common in today's society. Having a family with children (whether they’re adults or minors) who can be defined as “your, mine and ours” can be very rewarding – but it...
4 great reasons to add a trust to your estate plan
Creating a comprehensive estate plan is a crucial step in securing the financial well-being of your loved ones and ensuring that your legacy is preserved according to your wishes. While a will is a fundamental component of estate planning, incorporating a trust into...
Are you worried that your children are going to waste their inheritance?
You’ve worked hard for what you’ve earned over the years. Now you’re making an estate plan. You may have multiple beneficiaries, but you do anticipate leaving the bulk of your financial assets to your children. A major part of the reason that you worked so hard...
It isn’t always necessary to disinherit someone with an addiction
Those battling chemical dependence may have a difficult time maintaining social and familial relationships. They may lose their jobs or find themselves struggling with debilitating symptoms as they withdraw from their substance of choice. Addiction often leads to...
How do you spot financial abuse by a caregiver?
A lot of seniors need to rely on in-home caregivers as they start to mentally and physically decline, usually because they hope to age in place. Unfortunately, that can leave them ripe for financial exploitation. Finding a trustworthy caregiver isn’t easy. According...
How to choose the right executor for your New York estate: 6 tips
When you’re crafting your estate plans, you have a lot of decisions that have to be made – not the least of which is who to choose as your executor. Your executor is the person who will ultimately manage your estate, so that includes locating and securing your...
Are unequal bequests to your children fair?
When you’re a parent, you never want to play favorites with your children – and most parents worry about how to be fair to their children in their estate plans, as well. While the conventional wisdom has often leaned toward leaving each child equal shares, the...
Why people use trusts to pass resources to their children
There are multiple, relatively simple ways of transferring specific assets to someone's children when they die. A will is arguably the best-known instrument for arranging for the transfer of property. People can also attach transfer-on-death designations to major...
A guide to revoking a trust
When events or unexpected developments occur, you may rethink the trust you have created or even wish to revoke it. Although it may be possible to revoke a trust in certain instances, it is important to consider the consequences and ensure you take the proper steps to...