The death of a loved one is an especially traumatic event. Lives can be upended and surviving family members and friends can be left feeling lost and confused about how to carry on. This is especially true when the death occurs suddenly or under tragic circumstances.…
Making the decisions about your estate plan can be a daunting task. We are faced with a plethora of uncertainties and questions about our future and what to do about our “stuff.” There are a few documents that a client should consider executing with an attorney to protect their estate.…
A recent Forbes article reported that while most family business owners do have estate plans, many do not update their estate plans regularly. Many circumstances can change over just the course of a few years, which makes a regular review of any estate plan necessary in order to capture planning…
Are you being told to avoid probate at all costs? The probate process is characterized as a long and tedious process of endless red tape and expense. In many cases avoiding probate can be a worthwhile goal; however, a closer look at the probate process may reduce the angst that…
Saving for the cost of your child’s or grandchild’s college education can be intimidating. Participating in a qualified tuition program, also known as a 529 college savings plan, that is administered by the State of New York can be an effective part of your estate plan, and a great way…
Without you around to clarify your testamentary intent, those receiving property, and likely those intentionally omitted from your will, might battle over your estate for years. There are many potential sources of dispute, but there are steps you can take to make sure your intent is carried out without an…
Age-old wisdom tells us that only two things in life are certain – death and taxes. Well, when it comes to dying in America, you can be certain that when you die, you also have to do your taxes. After all, if you earn money, you must pay taxes on…
Some clients may ask, “what happens if we lose the original will; is the court still going to let it be admitted to probate?” The short answer is, as always, maybe. As a general rule of thumb, New York courts are very reluctant to admit a copy of a will.…
For the last two decades, employers across the country have watched pensions go the way of VHS cassettes and tube televisions. Even many state governments are now doing away with bloated pensions and instead offering self-managed 403(b) accounts that allow employees to invest their own money in retirement. The argument…
Few things are as dreaded as probate. This is especially true for wealthier families who have large estates spread across multiple states and jurisdictions. For instance, there are quite a few people living in New York who invest in Florida retirement properties. Perhaps they rent these properties during the off-season…