What is an “estate” anyway? Many local residents mistakenly assume that they have no use for New York estate planning, because they don’t really have a large cache of assets to pass on or save from being consumed by taxes. After all, when most people hear the word “estate” they…
The New York Times published a story this weekend on the continued uncertainty regarding the gift and estate tax and the questions it raises for many families. As each New York estate planning lawyer at our firm explains to local residents, the current tax situation is in flux, requiring many…
Family inheritance disputes are legion. In most cases that make headlines, a famous individual passes away without conducting thorough estate planning and various family members publicly feud to get their fair share of the individual’s wealth. Our New York City estate planning attorneys often advise clients that these sorts of…
New York elder law estate planning is all about putting plans into place to designate inheritances, account for taxes, plan for disability, and otherwise provide peace of mind to account for long-term financial concerns. However, part of the challenge of the process is realizing that the future is unknown. It…
Our New York estate planning attorneys often help clients create “ethical wills.” An ethical will refers to a document left by an heir to pass along intangible assets like morals, lessons, and memories. Creating one of these wills is an important way to clarify the meaning of one’s life to…
Most local residents cherish their privacy. That extends to privacy in sensitive matters like estate planning. When considering estate planning, the first thing that comes to mind for many is the traditional will. Our New York estate planning lawyers frequently explain how there are now many more tools beyond wills…
Smart Money published an interesting story this week that lists several things that parents should tell their children about their personal estate plan. This planning is conducted for individuals, but it obviously implicates entire families. It is often challenging to balance the need for parents to make their own choices…
Market Watch reported last month on new research that suggests that many community members are misinformed about the cost of certain types of insurance. As New York estate planning attorneys we understand the importance of life insurance policies in many local resident’s financial planning efforts. Similarly, an important part of…
This is the time of year when many teenagers and young adults end one chapter of their lives and prepare for the next. It is also a time for many families to consider how far they’ve come and what the future holds for themselves and their loved ones. For those…
Local families with disabled children often have added complexities when conducting New York estate planning. Parents of children with special needs have a clear desire to ensure that estate plans are in place so their loved one will have necessary resources throughout their lives–even after the parents are gone. Fortunately,…