You’ve created a valid will. That means you have taken an important step toward safeguarding your legacy and loved ones’ futures. At the very basic, a will speaks for you when you are no longer around to make important declarations. Without one, New York intestacy...
Making an estate plan is a great first step, but don’t forget that the estate plan can become outdated and inaccurate. It is very important to review it periodically so that you know that it actually reflects your true wishes. After all, you wouldn’t want an...
Those who have finally created a will can breathe a sigh of relief. They have decided and codified how their assets will be distributed upon their death. Are all wills valid in New York? What might make one invalid? If you have questions or concerns about estate...
For some people, deciding what to do with the family vacation home is one of the most difficult decisions in their estate planning. Whether you have a place up in New England where you spend holiday vacations, a beach house in the Hamptons where you spend part of...
Congratulations if you already have an estate plan in place. Not enough people understand how such a plan protects their family and assets in life and death. If you have not created a plan or failed to review yours for a long while, now is your chance to make sure it...
New York is one of a number of states with an estate tax. That means if someone dies with enough assets located in the state, that estate is taxed by the state of New York in addition to the federal government. As of 2022, the federal exemption limit is $12.06...
If you have created a will, congratulations, you are on your way to developing a solid estate plan. Your plan will be even better if you add other tools like trusts and powers of attorney for financial matters. You may not know this, but you can also address your...
People who have executive positions usually have nice benefits packages that provide them with a healthy income. For many executives, being able to pass down wealth to their heirs is important. A comprehensive estate plan is one of the most effective ways to make this...
Being named as an executor means you may have to mediate disputes that arise between beneficiaries and other family members. This can be a difficult position to be in, especially since you are also a family member. While arguments among family members aren’t...
Once you create an estate plan, the last thing you want to do is go back and look at it again. However, laws change all the time, as well as things like your family structure, wealth and assets. Unfortunately, if you fail to review and update your estate plan...
