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...
Families come in all shapes and sizes. Individuals and couples need more than one-size-fits-all estate plans to meet their needs and goals. They need estate plans that meet their specific needs and wishes. Trusts are the perfect estate planning tool for customizing estate plans for blended families and complex situations.
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...
Choosing the trusts that accomplish your goals and meet your needs is essential in estate planning. The first step is understanding what each type of trust can provide. Our New York & New Jersey estate planning attorneys explain the various types of trusts available. This blog discusses what makes marital trusts...
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 &...
Imagine your loved ones struggling through a lengthy probate process, waiting months—or even years—to access the inheritance you intended for them. Now imagine the government significantly reducing that inheritance through taxes you didn't plan for. Fortunately, there’s a powerful tool to avoid these costly outcomes: a properly structured trust.
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...
Every business owner reaches a point where they need to consider the future of their company beyond their leadership. Whether preparing for retirement, moving on to new ventures, or simply wanting to ensure the business continues to thrive, having an exit strategy is essential.
While some owners choose to...
For many business owners, keeping the company within the family is the ideal succession plan. However, not all family businesses have the next generation ready—or willing—to take over. When internal succession isn’t an option, owners must explore alternative strategies to ensure the business continues to thrive.
One option...
