Your Instagram account will outlive you. So will your email, your Bitcoin wallet, and that embarrassing Spotify playlist from 2019. When you die, your family gets stuck figuring out what to do with your entire digital life–and trust me, they don't want to guess your Netflix password.
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Are you considering granting someone the power to act on your behalf? If so, it is crucial that you understand the difference between a general vs. durable power of attorney in New York. In this blog, our Staten Island estate planning and real estate attorneys explain the difference and what you...
Estate planning for high-net-worth individuals is essential to reduce the tax burden and protect wealth. Using trusts is a common strategy for high-net-worth estate planning. Comprehensive estate plans for high-net-worth families often include several trusts to meet specific needs and avoid the public probate process. Our New Brunswick estate planning attorneys...
Marital trusts can accomplish several estate planning goals for couples. They can help couples reduce estate taxes, protect assets, and ensure property stays within a bloodline. Deciding if a marital trust is right for your estate plan involves considering your family’s needs, tax consequences, and financial goals. Our New York &...
When crafting an estate plan, many people naturally focus on assets, property distribution, and financial security. While these elements are essential, your healthcare decisions and medical privacy require equal attention. A vital yet frequently overlooked part of your estate plan is the HIPAA authorization. Understanding why this document is necessary can...
A buy-sell agreement is a contract stating when and how business owners can buy out or sell a co-owner's share when the owner leaves the business. An effective buy-sell agreement should always include a plan to fund the ownership transition in the event of one of the owner's deaths, retirement, or...
When creating a buy-sell agreement, it’s important to consider the many tax considerations involved. Working with an experienced attorney can help you navigate the tax-related challenges of implementing a buy-sell agreement.
A buy-sell agreement is an important tool for business owners creating a business succession plan. If multiple...
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,...
