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...
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 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...
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...
Digital assets and estate planning
In today's society, most people have a significant digital footprint. From social media to payment accounts, cryptocurrency, and music libraries, there is a wide range of assets you access and enjoy each day that is not part of your traditional estate planning...
The legal implications of gifting in estate planning
One of the goals of estate planning is to reduce tax implications for your beneficiaries after your death. If your assets are over the estate tax exclusion, it is important to be aware of your options and common mistakes that people make when estate planning....