After building a company and making it a success, business owners may want to use their estate plan to protect the business they have built and provide for their family. This is especially important for those who run a sole proprietorship, partnership, practice or...
Breaking Up Is Hard To Do
Estate Planning
Going over the advantages of special needs trusts
Those creating an estate plan have many issues to think about, whether they do not know how to distribute property among their loved ones or they are unsure if a certain type of estate plan is the smartest strategy. If you have a loved one with special needs, you have...
Planning for an international estate
Legal processes such as estate planning can have nuances, with details changing for each case depending on what prospective planners want to achieve with their plan. Add international law to the mix and the complexity spikes. When people want to establish that their...
How can a QTIP trust benefit you?
After you die, any shared property you own typically belongs to your spouse. However, in some circumstances, you may put the property in a trust before your death. Using a qualified terminable interest property trust is one method of doing so. How it works According...
Planning your estate may secure your comfort and preparedness
With uncertainty, an inherent part of living, your decision to begin planning your estate may provide unparalleled comfort and preparedness. Through your effort to provide your family in New York with insight and clarification about your desires, you may continue to...
Be wary of do-it-yourself estate planning
Do-it-yourself projects are trendy. An online search will bring up video tutorials for nearly anything that comes to your mind. These videos can be useful for learning the best technique to paint a room. However, you may want to rethink rewiring your home unless...
Is it time to update your estate plan?
New York residents have a lot to consider when working on estate plans. You have to decide how to divide and distribute your assets. You need an executor to carry your will out. It is natural that your wants and needs may change over the years too. What do you do when...
Optimizing an inheritance through careful planning
When people in New York receive a large inheritance whether they were expecting it or not, the way they utilize their gift is instrumental in determining how meaningful and beneficial it is. Careful, strategic planning and proper utilization of funds may provide heirs...
Do investments matter when choosing a power of attorney?
While planning your estate and deciding on a power of attorney, did you account for your investments? Having a financial POA is undoubtedly essential, but careful planning is especially vital when you have investments to think about. To help you make a favorable...
Limiting estate tax liability
Estate planning experts in New York will confirm that one of the main goals of the estate planning process is to ensure that people are able to leave as much to their beneficiaries as is possible. That includes taking advantage of those opportunities to limit...