Our New York estate planning attorneys have spent decades helping local families make long-term preparations for their estate. Legal and tax rules must be accounted for in all significant property transactions, even when one is giving money away. As a Wall Street Journal story this weekend explained, it can actually…
Proper Inheritance planning requires much more than simply filing in the blanks on standardized forms. That is why experienced New York estate planning attorneys are essential advisors when local community members are evaluating their long-term financial preparations. Proper planning of these affairs requires consideration of unique family dynamics and an…
Professional inheritance planning continues to rise in popularity among all classes of society as more and more seniors reach retirement age and come to appreciate the legal tools available to help in their planning efforts. Interestingly, a new poll discussed in Time magazine this month explains that many of the…
One of our New York estate planning attorneys, Bonnie Kraham, Esq., recently authored an article that shares information on the increasing use of trusts in the estate plan of many local middle class families. The story was published in this weekend’s Times Herald-Record, and explains the various types of trusts…
Last month we shared information on the unique estate planning issues related to the inheritance rights of children conceived posthumously. A growing number of community members are cryopreserving their gametes for use through in vitro fertilization. This is a particularly popular process for those diagnosed with cancer and undergoing chemotherapy…
A trust is a centerpiece of many New York elder law estate plans. Trusts are usually superior to wills for transferring assets at death. Trusts are preferred because they can be used to avoid probate, reduce estate taxes, protect children from earlier marriages, and more. Essentially these entities remove assets…
This weekend the Wall Street Journal published a helpful article discussing some important aspects of New York estate planning that many residents overlook. Besides creating documents like wills and trusts, the best preparation also includes clear instructions that help family members understand where and how they can access the information…
Late Friday evening New York Governor Andrew Cuomo signed a bill that had just been passed by the state Senate giving same-sex couples the right to marry in New York. The signature was the culmination of an intense week of politicking at the statehouse which drew national attention. Passage of…
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…
Few residents understand the often staggering cost of long-term care, such as a private nursing home, until they are faced with the dilemma first-hand. It is only when they or a loved one is already to the point of needing that care that many people first realize the expense of…