When you buy life insurance policies, you want that money to go to your family members -- not the government -- if you pass away. However, there are ways in which the government manages to tax even these policies. This is done by counting the money from the policy as...
When you pass away, you will want to ensure that your assets, property and special possessions go to the right people or organizations. Setting up a will now can save your children a lot of work and headache. In New York, the statutes require mostly the same things...
Many people put off the completion of their estate planning because preparing for the end often forces us to deal with difficult questions. For example, you will eventually have to make a decision as to who should look after your children and property after your...
For many Americans, owning a family business is the pinnacle of entrepreneurial success. Family business owners often enjoy the benefit of sharing the experience of growing the company with their loved ones. Another benefit of owning a family business is that...
When it comes to estate planning, the most important thing that any New York resident can do is to complete the process. Considering how many individuals have yet to complete their estate planning, the completion of the task in and of itself is an excellent...
New York residents and others around the country are often fascinated by celebrities and their glamorous lifestyles, and this fascination can continue after their deaths. It is not at all unusual for the estate administration process, particularly if there are any...
When doing your long-term care planning in New York, you need to know exactly where you are going to get your funding from. This naturally leads you to the question of whether or not you can use Medicare to cover these costs. Typically speaking, the answer is simple:...
Sometimes when a person dies, the relatives of the deceased may not agree with the terms or conditions that have been set forth by the decedent's last will and testament. Perhaps the first step in determining whether a will can be contested is to first understand the...
A power of attorney is something that every New York resident should incorporate into his or her estate plan. Indeed, when considering trustees, executors and fiduciaries, power of attorney documentation is vital and perhaps the bare minimum component of your estate...
Under current U.S. tax laws, transferring wealth at the time of your death often means that you will incur significant tax liabilities. Fortunately, the Internal Revenue Service considers the ownership of wealth differently when it is passed on using certain ownership...
