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Estate Planning

Sunday, May 31, 2020

Dividing Your Estate Among Your Children Fairly


Q: Should I divide my estate equally among my children?

At one point or another during childhood – and even in adulthood – parents with multiple children have likely been accused of favoring one child over the other(s). While this kind of sibling rivalry is natural and generally harmless, how parents distribute an inheritance to their children can actually have serious consequences.

New York and New Jersey estate planning attorneys watch clients struggle with how to handle leaving an inheritance to multiple children.
Read more . . .


Friday, May 29, 2020

Estate Administration Attorneys Help Executors Avoid Pitfalls


Q: Can an Executor pay beneficiaries whenever he or she wants?

When sitting down with a New York or New Jersey estate planning attorney to make a comprehensive estate plan, you’ll be deciding many important things that impact not only the end of your life and the financial future of your loved ones, but also what will happen to you if you become incapacitated by an illness, condition, or accident prior to your death.

Generally, you’ll execute a last will and testament and/or a trust to distribute assets in accordance with your wishes. You may do Medicaid planning to secure your assets in the event that you need long-term nursing home care at some point.
Read more . . .


Thursday, May 21, 2020

Plan Early for Possible Nursing Home Care


Q: How do I plan for nursing home care?

New York and New Jersey elder law attorneys help the elderly and their adult children plan for how their golden years will be spent.

While most people hope to avoid ending up in a nursing home, that is not always possible. So Read more . . .


Thursday, April 30, 2020

What Is Medicaid Planning?


The cost of long-term care in the United States is steep and continues to climb year after year. There are few that can afford long term nursing home or assisted living care for very long and even fewer that can do so without having assets rapidly depleted down to nothing. Medicaid is a program administered on both the federal and state level that helps cover the cost of long-term care for individuals with limited income or financial resources. Many will look to Medicaid in later years to help cover the substantial costs of long-term care, but qualifying for these much-needed benefits can be difficult.

What is Medicaid Planning?

There are strict requirements for qualifying for critical Medicaid benefits.
Read more . . .


Thursday, April 23, 2020

Doing Your Estate Plan During the Pandemic


Q: Can I make a will during the coronavirus pandemic?

No one likes to think about dying. That’s one of the popular reasons people postpone having their last will and testament drawn up, according to New York and New Jersey estate planning attorneys.

A global pandemic can change all that.
Read more . . .


Monday, March 23, 2020

Four Things to Understand About Estate Taxes in 2020


A factor in any estate plan is dealing with the potential for tax liability. Your estate and your heirs could have a significant tax liability if you are not careful when creating a plan to finalize your affairs after your death. Because of the recent changes in tax laws, it may be a good time to review your estate plan with a New York estate planning attorney to ensure that you are taking steps to reduce the tax liability for your heirs and loved ones.
Read more . . .


Monday, March 16, 2020

Getting Your Estate Plan in Order Before Retirement


Q: What planning should I do before I retire?

Ah, retirement. The golden years. The time to slow down, leave the long workdays behind, and finally reap the rewards of a lifetime of saving for the future. It’s finally time to focus on pursuing the things that interest you most. But before you head to the beach, the green, the airport, or the grandkids, you should check on the status of your estate plan.
Read more . . .


Saturday, February 29, 2020

Three Ways to Protect your Digital Assets


Digital assets, like other assets, have value. Protecting these assets is an important part of estate planning. Failing to include digital assets in your estate plan could result in court battles and expenses for your heirs. A Read more . . .


Thursday, February 27, 2020

Estate Planning for Single Parents in 2020: Special Considerations


Estate planning can be challenging for any parent. However, single parents have additional considerations because of their status as single parents. A New York estate planning attorney can help you develop an estate plan that protects your child if something should happen to you.
Read more . . .


Monday, February 24, 2020

The SECURE Act and Your Estate Plan


Q: How does The SECURE Act impact common estate planning practices?

A new law was signed in December 2019 that made significant changes in the rules regarding both individual and employer-sponsored retirement plans. When the calendar flipped on January 1, 2020, the SECURE Act—and its perks for retirement plans-- went into effect. But unfortunately, an often-used estate planning strategy was simultaneously taken away.
Read more . . .


Friday, February 21, 2020

Gathering Important Records for Estate Planning


Q: What information will my estate planning lawyer need?

New York and New Jersey estate planning attorneys know that one of the biggest reasons people put off having a comprehensive estate plan created is that they are afraid to face their own mortality. Nobody wants to talk about death, but having an estate plan is the best thing you can do for your family. Having everything organized and your legal affairs in order will make a devastating situation slightly easier on your loved ones than the chaos and additional expenses that will result if you die without doing so.
Read more . . .


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