On Monday the Metro West Daily News discussed some myths about retirement. Popular culture, water-coolers chats, and other daily interactions often spread misconceptions about what it means to plan for retirement and what it takes to be financially secure in the future. Many area residents put in a lifetime of…
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…
Proper New York estate planning has ramifications beyond the lives of the planners themselves. Whole families are impacted by these decisions. The far reaching consequences mean that it is often appropriate for concerned family members–like adult children–to remind parents of the value in proper estate preparations. An article yesterday in…
Earlier this week an article authored by our New York estate planning lawyer, Bonnie Kraham, Esq., appeared in the Times-Herald Record. The story discussed the need to avoid two of the biggest estate planning pitfalls–failure to address all relevant issues and failure to properly update the plan. The planning process…
New York estate planning is often delayed by some local residents because it generates unpleasant thoughts about mortality, personal loss, and difficult healthcare issues. Like other uncomfortable tasks, many community members put off the process even when they honestly accept the need to properly get their affairs in order. In…
Emil Deister founded the Deister Machine Company in 1912. The business makes pieces of equipment known as vibrating screens which are used in the mining industry to separate different sizes of gravel, stone, coal, and sand. Despite ups and downs, the company is still in business today shipping products around…
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…
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…
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…