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Estate Planning

Wednesday, April 27, 2022

The Relationship Between Estate Planning and Financial Planning


Many are not clear about the differences between financial planning and estate planning. Both are important but serve separate and distinct purposes. To manage your money now and to protect your wealth in the future, understanding how financial planning and estate planning work together is vital.
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Sunday, April 24, 2022

8 Signs Your Estate Plan Needs an Update


If you have taken time in the past to create an estate plan, or you’re considering doing so now, that’s good news.

Having an estate plan ensures that the wealth you’ve worked hard to create is protected. It makes sense that your assets should be distributed as you wish.


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Sunday, March 6, 2022

A Peek into Stephen Sondheim’s Estate Plan


Are trusts just for celebrity estate planning?

New York and New Jersey estate planning attorneys assist clients from all walks of life-- from those with modest means to wealthy celebrities. Some people think that estate planning is only necessary if you are wealthy, but everyone over the age of 18 can benefit from estate planning. And as you go through different phases of life, your estate plan can be reviewed and revised as needed.
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Thursday, February 3, 2022

What Happens If Your Primary Beneficiary Dies?


It is great to have an estate plan in place. An estate plan is an important step towards protecting your wishes for yourself, your loved ones, and your assets you have spent a lifetime acquiring. An estate plan puts protections in place in the face of an otherwise uncertain future. While we can never plan for every future contingency or possibility, an estate plan can help cover a number of basis. That is why the most solid estate plans considers future possibilities and provides protections as best as possible.


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Thursday, February 3, 2022

What is a Pour Over Will?


While you may have heard of a will, you may not have heard of a pour over will. A pour over will, however, can be a valuable estate planning tool when properly employed. In particular, a pour over will can be a great safety net if you have put a trust in place to hold your assets in order to avoid the costly and time consuming proceedings involved in probate. Read on to find out what exactly a pour over will does and why it can be such a useful part of your estate plan.

What is a Pour Over Will?

In a pour over will, which is a legal document, the remaining assets in a person’s estate automatically transfer to a previously established trust when they die.


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Sunday, January 30, 2022

Why It’s Never Too Early to Start Your Estate Plan


When you think of estate planning, you generally picture someone in their mid-60s or older. If you’re below retirement age, you might think you have years to go before you need to consult an estate-planning attorney. But what if you found out there are a wide range of benefits to planning an estate far sooner?

An inability to address the future is sometimes accidental. You may be more focused on current needs and decisions while you're raising a family or starting a business. Or you may believe you haven't amassed a substantial enough inheritance, or you simply don't enjoy thinking about a day when you won't be in the picture.
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Saturday, November 27, 2021

Why Avoid Probate?


Probate is the court monitored process of administering an estate after a person has passed away. You may have heard that it can be a good idea to try to avoid probate, which can be accomplished during the estate planning process. At this point, however, you may be wondering why it can be so beneficial to avoid the probate process. There are several prominent reasons for doing this and we will discuss them in more detail here.

Why Avoid Probate?

The prospect of facing an intensive and extensive legal process in the wake of losing a loved one can seem less than appealing.


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Saturday, November 27, 2021

The Benefits of Funding a Trust with Out of State Property


In addition to estate planning basics such as a will and advance health care directives, you may want to look into adding a trust or two as well. Trusts can vary in scope and purpose, but can come with a number of benefits when properly executed. In order to establish a trust, a trustee must be appointed who is tasked with managing the trust for the benefit of trust beneficiaries. Also, the trust must be funded. This means that property must be transferred into the ownership of the trust itself.


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Wednesday, September 1, 2021

What Is the Difference Between a First and Third Party Special Needs Trust?


Everyone should have an estate plan in place. It is a plan that helps protect your best interests and those of the ones you love in the face of an otherwise uncertain future. Because estate plans are such a reflection of a person and family’s circumstances and situation, every estate plan can and should look different.


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Wednesday, June 9, 2021

A Novel Approach to Estate Planning


Q: Should I give my children their inheritance before I die?

New York and New Jersey estate planning attorneys know that everyone loves their children and wants the best for them. It’s what drives many parents to leave them a nice inheritance after they’re gone.

But is that the best—or only--strategy?

Some parents — who are fortunate enough to have the means to do so — are embracing a novel approach to estate planning in response to a book by a former Wall Street trader who revealed that he plans to spend down his entire retirement fund and won’t leave any of it to his children as an inheritance.


Read more . . .


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