The wealthiest individuals in the United States tend to be well-educated and have a great deal of business savvy, but this does not seem to be helping complete the basic elements of estate planning. According to the CNBC Millionaire Survey, 38 percent of individuals...
The estate tax seems somewhat unfair when put into perspective. Basically, the estate tax is the federal government's ability to tax you for the right to transfer your property when you die. This can very disappointing for individuals who have spent their entire lives...
When doing estate planning in New York, there are many factors you have to keep in mind, but one thing that often goes overlooked is sibling rivalry. No parent wants to think that his or her children are going to fight over money or property. However, this is...
Having a will in place can be a true blessing. Knowing what will happen when you are gone and can no longer voice your preferences can be such a good thing. Your will can see that your property and assets are left to the people or organizations that you want them to...
A central component of any well-considered estate planning is choosing an individual or an organization to represent your interests after you are deceased. For example, many people elect to choose their estate planning attorney as the executor of their wills. Others...
In cases where one or more spouse has children from a prior marriage, estate planning can get more complicated. It does not matter how well a family gets along now, there could be conflicts after a death when it comes to inheritances. For this reason, New York estate...
Nearly everyone wants to live independently for as long as possible. Unfortunately, medical problems associated with advanced age often force even the most fiercely independent people to rely on help from others as they get older. Some families are better situated...
The Supreme Court has just ruled that gay marriage has to be allowed everywhere. This is a huge case, and it's a landmark decision that will go down as one of the biggest rulings in U.S. history. While it's true that gay couples in New York have been allowed to marry...
Having an estate plan in place can be an enormous relief. Knowing what will happen and when it will occur can bring peace of mind that you never imagined possible. One of the major issues with an estate plan are the tax consequences. You can pass on your assets and...
Many people create charitable trusts as part of their estate planning portfolios. Generally, a charitable trust is an allocation of assets that provides funding for certain types of charitable causes. For example, a person with a lifetime interest in classical music...
