Thinking about who will care for a family member with special needs in your absence can cause significant worry. Fortunately, there are various ways your estate plan can provide for your loved one. One of those options is a special-needs trust. What is a special needs...
Creating an estate plan requires one of the most important steps, which is naming an executor of your will. The selection is crucial because this person or persons will be responsible for collecting your assets and carrying out your wishes as outlined in your plan. By...
Most people choose to include a trust in their estate plan for tax purposes or to protect their assets from creditors. They may also worry about whether they can get Medicaid coverage later when they need homecare or nursing home care. Especially when the purpose of...
Estate planning is an essential step to ensure your wishes are executed after you pass, but as individuals age, it's also important to consider the possibility of long-term care due to a prolonged illness or disability. According to the Kaiser Family Foundation, one...
The current estate tax rate in New York ranges from 3.06% to 16%. According to these tax rates, estates over 6.11 million per individual in 2022 are subjected to taxation. In addition to these tax rates, the state has a tax cliff that mainly targets larger estates....
The death of a loved one or family member can be very emotional, and sometimes disputes arise among family members regarding trusts or wills. An estate litigation attorney is often needed to help resolve issues over the estate including the division of assets,...
Estate planning is necessary to ensure your assets go where you want them to, who you want them to go to, and that they're distributed in the manner you wish. However, when many people are asked about their estate planning, they reply that they don't have any because...
When thinking about your future, you may be considering both elder care and estate planning. It's important to know the difference so you can create a long-term goal now. Estate planning involves managing your assets in the event that you become incapacitated or pass...
The vast majority of estate planning happens without incident, but what if you suspect that your loved one was incapable of making legal decisions about their estate due to age or illness? Read on to learn about what makes a will valid or invalid. What is a will? A...
If you're getting your affairs in order, no doubt you've heard about trusts. There are lots of different types, but they generally fall into one of two categories -- revocable and irrevocable. Each has its own benefits, so the best choice for you will depend on both...
