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Estate Planning

Thursday, March 21, 2019

Do I need a pet trust?


New York and New Jersey estate planning lawyers, as well as the public, will likely always remember the headlines surrounding the late hotel and real estate investment billionaire Leona Helmsley’s estate – – particularly the part where she left a $12 million trust fund to benefit her spoiled little Maltese dog, Trouble.

So, what do you plan on doing for Sparky, Fluffy, or Trigger after you are gone?

While most people consider their pets to be part of the family, they don’t often include them in their estate planning. But for those who live alone, or those who possess pets with extraordinary life expectancies--or those with excess riches-- it may be wise to include your pet in your estate planning.
Read more . . .


Thursday, February 28, 2019

Can a court-appointed administrator steal from an estate?


If New York estate planning lawyers could get one thing through the heads of those who have put off estate planning on the common but mistaken belief that everything they have will go where they want it anyway, it would be that failure to properly plan for death or incapacity could be financially devastating to them and their loved ones before or after their death. 

First, anyone with a minor child needs a will for many reasons, but most importantly, to


Read more . . .


Monday, February 25, 2019

Does divorce affect an estate plan?


If you lived in New York or New Jersey and were finally ready to have a comprehensive estate plan prepared, you’d seek out an experienced New York or New Jersey estate planning attorney

And if you were considering buying or selling real estate in New York or New Jersey, you’d likely seek counsel from a


Read more . . .


Sunday, February 17, 2019

What happens if I die without an estate plan?


Most people have heard that when music legend, Prince, passed away a couple years ago, he died without a will. Perhaps he didn’t care what happened to his property after he died or, like many without estate plans, maybe he just assumed his property would pass easily to the people he wanted to have it. In reality, Prince’s estate is the proverbial poster child for how much can go wrong when you die without an estate plan.


Read more . . .


Wednesday, January 30, 2019

Does Staten Island offer housing options for disabled adults?


There are plenty of reasons why people consider buying a home on Staten Island. And now there’s another very unique one.

Staten Island may be a model not just for New York, but for the nation to follow when it comes to ideas and pilot programs for finding housing opportunities for adults with disabilities.
Read more . . .


Monday, January 28, 2019

Must someone who borrows something return it to their estate after the lender dies?


It turns out the popular, snarky remark “don’t get your panties in a knot” might actually be appropriate to describe a recent New York City estate administration nightmare. The estate of a father is reportedly suing the dead man’s adult son—described as a “high-end underwear tycoon”— after Junior allegedly failed to return an expensive painting that he reportedly borrowed from his dad in 2012. 

 The pair reportedly had a falling-out at some point after the loan of the painting and prior to the father’s death.


Read more . . .


Wednesday, January 23, 2019

Can a decedent’s IRA beneficiary designation be changed after death?


The start of the new year is a popular time for people to re-examine their relationships and sometimes revise existing estate plans to reflect any changes in those relationships. But estate plan modifications can be made at any time of the year as well. 


New York and New Jersey estate planning attorneys must consider a client’s family relationships, tax considerations, goals for the future and financial security of their children, as well as any future potential will contest when drafting or modifying a comprehensive estate plan.


Read more . . .


Saturday, January 19, 2019

Estate Planning for American Muslims


What does the Quran dictate about the creation of wills for its followers?


American Muslims are taught from a young age that the Quran and other Muslim teachings impose quite detailed guidelines on how a Muslim should distribute his or her assets after death.  Among Americans, fewer than half of us have a will in place, according to the most recent Gallup polls.  For those in the American Muslim community, that figure is thought to be even lower because Muslims traditionally counted on the government in their country of origin to follow Islamic guidelines in distributing their assets. Now, however, it is becoming critically important that American Muslims develop an estate plan that complies with their religion and heritage.  Our Read more . . .


Friday, December 14, 2018

Popular Estate Planning Tactics for Helicopter Parents


What can I do now to retain some control over my children’s inheritance after I die?

Many people know that a last will and testament, commonly called a will, is the foundation document in an estate plan. In a nutshell, it disposes of the maker’s property after death and in the case of minor children, designates the legal guardians who will raise them and the trustees to handle their inheritance until they reach maturity age.

But many people are not as aware of Read more . . .


Thursday, December 13, 2018

A Look at the Most Important Estate Planning Documents


Why should everyone have a durable power of attorney?


We have likely all heard the tale of a person who passed away without an estate plan, leaving the heirs to battle it out.  Some of us have actually experienced the pain of losing a loved one who left no instructions as to their last wishes. Dying without an estate plan in place can leave a legal disaster for your loved ones.  

Your heirs may feel confused and lost as to what decisions you would want made regarding your healthcare, finances, and funeral. At times, people you love could receive nothing due to New York’s intestacy laws.
Read more . . .


Tuesday, November 27, 2018

Novel Legal Argument Results in Huge New York Estate Tax Refund


Does New York State owe me a tax refund?

It isn’t often that New York estate administration attorneys come across something new and exciting in the relatively stable and unchanged world of trusts and estates law.

But a recent ruling in favor of an estate that took a novel and daring estate tax approach has turned New York estate administration practice on its ear. By applying the same arguments, many others may be entitled to “big estate tax refunds and future savings”.
Read more . . .


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