As a grandparent, you know that the love you have for your grandchild is unique. You want to do everything in your power to help them through all stages of their life. You know that you may only be around to do so when they’re young, but that’s where estate planning...
The Secure Act went into effect on Jan. 1, 2020, and that has some major consequences for long-term financial planning and estate plans. Here’s what you need to know about how things have changed. It’s easier to have a retirement plan The Secure Act actually provides...
There are many reasons why people in New York may consider a trust when it comes time to plan for the future. Estate planning may help people to achieve a number of their goals for their loved ones, from simply distributing property and assets to protecting them from...
If you have accumulated a lot of assets, you may feel like leaving some of it to a charity. But you can give to the needy while also taking advantage of certain tax breaks that giving offers to you. If you want to make sure a charity receives some of your assets when...
The Internal Revenue Service (IRS) requires gift-givers to pay taxes on gifts that exceed a certain amount. At this time, the tax does not kick in until the person making the gifts gives away $11.4 million or more. However, those with significant assets need to keep...
The world changes once you become a parent. Instead of taking steps only to protect your own future and the future of your spouse, you now have to take steps to protect your children. With a few steps you can put a plan in place that will better ensure a good...
Creating an estate plan is on many New York residents' to-do lists, but it is often near the bottom or constantly having other tasks placed above it. You may think that you have plenty of time to create your plan or may even think that you already have a plan because...
There are certain life events that should trigger a review of one’s estate plan. A death in the family, the birth of a new family member, a divorce or a marriage are common examples. Another example: tax changes.The tax code has gone through some major changes...
You may have already begun your estate planning journey and have done a deep dive into a self-assessment. You may have had to answer many tough questions so far, but still, you have not completed the entirety of the process. Though you may have many aspects of your...
A large part of estate planning is making your wishes known even when you can no longer express them on your own. Whether you prepare for the possibility of incapacitation or for your death, you want to make sure to complete certain tasks in the manner in which you...
