For those who run a family business, a succession plan and an estate plan go hand-in-hand. Determining ownership and management of the family business represents a significant portion of the stress and concern many people feel when developing a comprehensive estate...
As a parent, you always want to provide the best for your children. You work hard to make sure your kids have their basic needs met now and will have a significant inheritance someday. But sometimes, things don't go according to plan, and parents tragically pass away...
While no one wants to consider their own mortality, the process of proper estate planning is one of the most selfless and thoughtful acts that a person can take part in. Whether you have amassed a large amount of personal wealth or simply own a home, a single vehicle...
Planning your estate can feel like a morbid process, as you have to think about what will happen to your possessions and your loved ones when you die. Many people rush through the process specifically because of how unpleasant they find it, but rushing doesn't do...
Divorce is a common part of life. Though you may not have expected your marriage to end, it is time to prepare for your life as a single person. That could mean setting up a home, taking up new hobbies -- and revising your estate plan. If you have not looked at your...
Your need for medical support is likely going to increase as you continue to age. While you may currently still enjoy independence, mobility and good health, that can potentially change as you age. When your health declines, your health care costs increase. Most older...
Upstate New Yorkers who do not have an estate plan may want to consider their options, particularly if they own assets or have a business. There can several components to an estate plan, and it helps to be familiar with them before speaking to a professional to create...
Many Americans receive a quality education as they grow up, but many people get left in the dust. Even those that receive a decent education and learn the details of numerous subjects are often left to fend for themselves or learn from their parents about estate...
If we have learned anything this year, it is that life can be unpredictable. We never know what is around the corner. If something happened to you today, would your family know your wishes and agree on how to carry them out? You may think they would, but too often,...
The IRS has determined that estates and nongrantor trusts in New York and around the country are now able to deduct certain expenses that are no longer considered miscellaneous deductions. Regulations have been released that offer clarity on the new rules and...
