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Thursday, November 21, 2019

The Right of Election in New York


Q: Can I disinherit my spouse?

Even in the best circumstances, the relationship between an adult child and their divorced parent’s new spouse can have its rough moments. Nowhere is this more pronounced than in the field of estate planning, as New York and New Jersey estate planning attorneys can attest. 

There is a literal arsenal of estate planning tools for each individual’s personal scenario.
Read more . . .


Monday, November 18, 2019

The Importance of Planning for Incapacity


Q: Why should people plan for incapacity?

New York and New Jersey estate planning attorneys not only prepare people’s wills, but draft several other documents that together make up a comprehensive estate plan. 

What documents are needed when planning for incapacity?

Planning for incapacity is essential in estate planning, regardless of age or health. Not to frighten you, but the stark reality is that tragedy can strike anyone at any moment.
Read more . . .


Thursday, November 14, 2019

90210 Star Reportedly Used a Revocable Living Trust in Estate Planning


Q: What is a revocable living trust?

Whether they’re from the music or television world, celebrities are viewed by some as role models – much to the chagrin of parents that might disagree with the examples set by their on-stage or off-screen behavior. Antics and personalities aside, estate planning attorneys are more likely to judge celebrities on their choices  or lack of choices – in the estate planning department.

Mega-stars, like the late Prince, sometimes die without any estate planning documents in place, leaving an Read more . . .


Monday, November 11, 2019

Hot Spot for Those Looking to Buy or Rent in New Jersey


Q: Where can I find an affordable house or apartment in New Jersey, but close to Manhattan?

Whether you work in New York City or would just love to live nearby so you can easily visit more often, buying a home in the city can be challenging. For that reason, New York real estate attorneys often help clients, who can’t afford to purchase a home in Manhattan, with leases for apartments in and around the Big Apple.

New York and New Jersey real estate attorneys have found that in recent years clients have looked for homes in Staten Island and other boroughs--as well as New Jersey neighborhoods near Manhattan.
Read more . . .


Monday, October 21, 2019

Pet Trusts in Estate Planning


Q: Do I need a pet trust?


Many people know that one of the most important functions of a last will and testament--also known simply as a “will”, is to designate legal guardians (and successor guardians) for minor children. If you die before your children reach the age of majority and you have not executed a will that designated their legal guardians, a judge will decide who raises your children – – and it may not be someone you would have chosen. A will serves many other purposes, and is the starting point for most customized estate planning in New York and New Jersey.
Read more . . .


Wednesday, October 16, 2019

Understanding How Retirement Benefits Impacts Estate Planning


Q: How do my Social Security benefits impact my estate planning?

Life has a way of creeping up on us. One day we’re just starting out in our 20s and before we know it, retirement is upon us. Are you physically, mentally, and financially prepared for it?

Ideally, people create an initial estate plan when they are young and modify it throughout their lives as their circumstances change – whether it be a marriage or divorce, a birth, an adoption, or a death, the formation of business relationships, and/or the accumulation of significant wealth. 

Whatever phase you are at in your life, if you do not have one in place, you should consult a skilledRead more . . .


Monday, October 14, 2019

What to Consider Before Buying a Vacation Home


Q: Is it advisable to buy a vacation home while still on vacation?

If you’re fortunate enough to be able to afford buying a home in New York City or New Jersey, chances are you might have the funds needed to take a nice vacation once in a while. It’s probably not a stretch to say that while you’re away having the time of your life, you might discuss buying a vacation home in that idyllic location. On impulse, you might even see a real estate broker before you return home.

New York and New Jersey real estate attorneys often hear from clients who just enjoyed a wonderful vacation and –  high off the amazing experience – impulsively want to buy a second home at the vacation destination. 

Making a major real estate decision when you’re on vacation is a bad idea.


Read more . . .


Wednesday, October 9, 2019

Homeownership Among Millennials is Declining


Q: Why aren’t millennials buying homes?

While New York and New Jersey real estate attorneys enjoy helping clients-- especially first-time homebuyers—to buy a home, there is a noticeable decrease in the number of young faces coming through the door.

The percentage of so-called millennials – – people between roughly the ages of 22 and 37 – – who are buying homes has hit its lowest rate compared to the generations that came before them. In fact, as of the end of 2018, it was estimated that only 1 out of 3 millennials under the age of 35 were homeowners.


Read more . . .


Monday, September 30, 2019

Recognizing Financial Elder Abuse


Q: What is financial elder abuse?

When it comes to creating comprehensive New York or New Jersey estate plans for the elderly—or for those planning ahead for their golden years—there are many common concerns for baby boomers and their parents. 

In addition to common estate planning tools such as a last will and testament and documents needed when Read more . . .


Thursday, September 26, 2019

Estate and Trust Administration Issues in Complex Estates


Q: What happens when an estate has many creditors or claims against it?

New York and New Jersey estate planning attorneys and the general public are watching with interest how the administration of the Estate of Jeffrey Epstein will pan out. 

Most people have heard the news reports that the late multimillionaire financier committed suicide by hanging while in jail awaiting trial on “federal charges of sex trafficking minors and sex trafficking conspiracy”. Before his death, multiple alleged victims claimed to have been sexually abused as young teens and several were planning to file civil lawsuits in addition to facing their alleged abuser in criminal court.
Read more . . .


Monday, September 23, 2019

How to Inventory Your Property for Estate Planning Purposes


Q: What is considered “property” for estate planning purposes?

New York and New Jersey estate planning attorneys know how difficult it is for clients to make an appointment to have their last will and testament prepared. One common reason is that nobody likes to think about dying. Another is that some folks are overwhelmed at the thought of gathering and listing all of their assets and debts.
Read more . . .


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