Some area residents assume that they do not need a New York estate plan because they have no special requests, just a desire to pass on their inheritance to their children. They often wrongly assume that the “default rules” would work just as well as anything that a professional could…
Over the past several decades many more local community members have come to understand the importance of crafting a New York estate plan. From the drafting of wills to the creation of complex trusts, the value of conducting asset preparation for one’s family is much more appreciated now than at…
Many in our area have decided to visit a New York estate planning attorney this year in order to learn how they can take advantage of Tax Relief Act which President Obama signed in December. As many are aware, the law allows individuals to give gifts up to $5 million…
New York inheritance planning involves passing on values as well as assets. No matter how large the family estate, most parents think long and hard about how their inheritance will affect the lives of their children. For many there are no easy answers to questions like how new wealth will…
An important benefit of visiting with a New York estate planning lawyer to help with your asset planning is that on top of carrying out your wishes, the professional can share avenues available to you of which you may not be aware. For example, many area residents are under the…
New York estate planning is often given little thought by some local residents until a specific event brings attention to the issue. A retirement, death of a close friend or relative, and similar occurrences often act as a catalyst leading residents to consider plans for their own affairs. Unfortunately, for…
Over the past few decades stories in popular culture have raised the profile of one type of contract–the prenuptial agreement. Some area residents use this document as an important part of their New York estate plan to help clearly set out the rights and responsibilities of both married partners in…
Perhaps no New York estate planning effort has received more attention over the past few years than that of well-known New York hotelier Leona Helmsley. Upon her death in 2007 a scramble ensued to determine what would happen with her estate, estimated to be worth billions. As a post yesterday…
Virtually all local families have much to gain from taking the time to conduct proper New York estate planning. However, for some the need to ensure that future finances are in order and loved ones are secure indefinitely is a particularly strong necessity. Families who have children with special needs,…
When many area residents are told to consider visiting a New York estate planning lawyer their mind immediately envisions someone who will craft a will or a create a trust. However, estate planning is much more than document creation. Instead, it is best viewed as a process by which an…