Estate planning can be a problematic and multi-faceted undertaking. It requires an individual to make a number of difficult decisions regarding their finances as well as their future health care needs. Every individual situation is unique, and there is no...
Whether you are a new pet owner or you have had pets your entire life, your animal is likely a significant part of what makes your life whole. They interact with you on your best days and your worst and always understand how you are feeling. Your estate plan is a way...
Sometimes, a chosen executor may not feel capable of this responsible role of settling an estate. Or other times, that person may take a flippant view of these duties. In either scenario, mistakes are possible. Some of those mistakes may be unintended, while others...
Recent changes occurred to the New York estate tax legislation in 2019 concerning Qualified Terminable Interest Property (QTIP). The following will focus on what a QTIP trust is, the benefits of a QTIP trust, and a summary of the estate tax legislation enacted in...
Elder law focuses on the legal rights of senior or disabled persons. The elderly are at risk of abuse by their family members or caretakers. Therefore, elder law protects them from any form of exploitation or harm, including financial, physical, verbal, or...
When a person is 65 years of age or older and needs health care insurance assistance or cannot afford to pay for medical care at all, Medicaid is there to help. However, to be eligible, there are certain qualifications that a person must meet. Qualification for...
In Brooklyn, NY, estate taxes are imposed by the federal government and state governments on transferring a person's assets or property upon death. These taxes apply to all inherited properties even if the decedent has an estate plan or will. In most cases, the...
An executor, also known as a trustee or personal administrator, ensures that the decedent's property and possessions are distributed to the beneficiaries according to the last will. The law requires the trustee to execute these duties with the utmost honesty and...
The term "irrevocable trust" is sometimes used during estate planning; however, the exact definition of this term is not always clear. An irrevocable trust is a legal agreement that enables someone to transfer their assets to another person. This type of trust cannot...
There may be a time when you will have to pay the bills or make medical decisions on behalf of a sick loved one. Having a POA offers the ability to do those things, but the POA must be valid to be put into effect. It may be an easier process and ensure the validity...
