Many retirees split their time between two states, enjoying the best of both worlds. While this lifestyle offers benefits, it can also complicate your financial and estate planning—especially regarding taxes. Snowbirds must understand how dual residency impacts estate taxes to avoid surprises and ensure their loved ones are financially secure. Here,...
Many retirees find joy in splitting their time between warmer climates during the winter and cooler ones in the summer, making them what many call "snowbirds." If you have dual residencies, ensuring that your estate plan considers the legalities and tax implications of living in multiple states is crucial. Let’s explore...
A power of attorney (POA) is an essential document in an estate plan. It grants someone you trust the authority to make decisions on your behalf if you're unable to do so. Whether it involves managing your finances or making healthcare choices, a well-crafted POA ensures that your wishes are honored. However,...
A durable power of attorney (POA) is a vital legal document granting someone the authority to make certain decisions on your behalf should you become temporarily or permanently incapacitated. Whether handling financial matters or medical decisions, a well-crafted POA ensures your wishes are carried out when you cannot act.
Once you become an adult, you can make decisions about your medical care. This is true even if you become incapacitated and can’t express those decisions. Establishing a health care proxy is one way to ensure that your wishes are respected, even in incapacity.
What is a...
How you age, where you age, and who you age with are decisions that you must eventually make. Many people choose to spend their final years in solitude, or at least without a partner.
Solo aging in New York can be enjoyable, but it also presents some significant medical...
When most people think about estate planning, they often focus on the legal and financial aspects, such as wills, trusts, and asset distribution. While these elements are undoubtedly crucial, another dimension of estate planning often goes overlooked — the personal touch that reflects your values, wishes, and legacy. You can add...
As we enter the new year, it’s a great time to add estate planning to your list of resolutions. Creating or updating your estate plan is a strategic move that allows you to protect your assets, reduce unnecessary expenses, and provide clarity for your loved ones. Here are some reasons why...
Retirement and estate planning is essential, but with the seemingly endless array of investment vehicles to choose from, it can be hard to know where to start. If you want to benefit yourself and your favorite charity, you might consider a type of fund called a pooled income trust. Here’s what...
If you have the money and opportunity to purchase multiple properties, it’s a great investment strategy. Barring disasters like economic crashes, you’re likely to see a good return on investment, especially if you can afford to wait for favorable market conditions to sell. You can also use rental properties to offset expenses...
