One of the most common questions that local families ask related to estate planning and assets protection involve gifts: Whether to give them, when to give, how much, and in what form. Of course, no two situations are identical, and so it is impossible to list a set of rules…
Most New Yorkers know that in the event of a passing there are “paperwork” details that must be worked out. Property must be divided up, accounts must be closed, and other errands must be completed. Time and again, however, families grossly underestimate the complexity and scope of these duties; many…
Anticipation is building among marriage equality supporters (and opponents), as decisions from the U.S. Supreme Court on two major same-sex marriage related cases are set to be released either this week or next. As we have previously discussed, one case relates to the Defense of Marriage Act (DOMA) which has…
It is notoriously foolish to take Congressional reports, proposed legislation, and similar matters as anything more than mere possibilities which may change federal law. For every piece of legislation that actually makes it into law, there are a hundred others that end up nowhere. Still, those who have an interest…
The Sun Sentinel recently published an interesting story on the growth of luxury services for those making funeral and burial decisions. While it may seem strange to some for such focus on high-end items in the afterlife, those familiar with estate planning appreciate the intensely personal nature of these decisions.…
This week Forbes published an article that outlines the basics of how to fund an estate plan for spouses. The story is a helpful reiteration of many of the basic issues that are common for all New York couples thinking about their future and trying to create security no matter…
Epic estate planning battles–particularly involving the wealthy and famous–have long been fodder for newspapers. There have even been a few high-profile movies touching on the topic, like the recent George Clooney film, “The Descendants.” But now it appears that the sagas may make their way into yet another medium: television.…
The New York Times shared a story late last week on developments in the settling of the estate of copper heiress Huguette Clark. It is a reminder of the sensitive nature of estate planning, particularly for those with wealth, and the lengths that all involved parties may go to influence…
Most lists of “common estate planning mistakes” include the frequent error of failure to properly update beneficiary designations. Yet, even that mistake is deceiving, because updating is just one thing to consider with these designations. Even if the names are evaluated on a consistent basis, it is still important to…
The New York City Bar Association’s “Committee on Animal Law” recently released a helpful report on the many different legal issues to consider regarding the care of your pet in an uncertain future. The document offers a comprehensive examination of a wide range of issues which many fail to consider.…