Estate planning isn’t just something that matters once you are gone – it’s also a way to make sure that your life is stable while you’re alive. High-net-worth individuals looking to preserve their familial wealth and minimize estate taxes may want to consider a...
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Understanding revocable trusts: What you should know
You have worked hard to acquire what you have and leave something behind for those you love – and good estate planning is crucial for ensuring that your assets are managed and distributed according to your wishes. One powerful tool for effective estate planning is the...
Can you disinherit a spouse in New York?
Disinheriting a spouse is a big decision that can have significant legal implications for many, particularly in states like New York where marital property laws are complicated. While the concept of disinheriting a spouse may seem straightforward, the reality is far...
3 taxes on estates that New York testators can make efforts to minimize
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 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...