Elder Law And Estate Planning Attorneys You Can Trust
We’ve discussed various unique aspects of the New York estate tax in the past. One of them is the tax “cliff” that an estate can fall off if its value exceeds 105% of the estate tax exemption amount – leaving the estate owing state taxes on its entire value. That...
New York is among the states that levies its own estate tax. Many people don’t have to worry about it because their estates are below the exemption amount (threshold). For estates of those who die in 2026, that amount is $7,350,000. That’s about half the threshold for...
When you’re creating an estate plan, you may be focused on ensuring that your assets are handled in the ways you intend. But, that’s not the only thing you need to think about when you’re creating this plan. You should also consider what will happen if you become...
A health care proxy is an estate planning document you can use in New York to select an agent to make medical decisions on your behalf. Typically, this does not change anything at the moment that you make the health care proxy. Instead, you are just selecting an agent...
Everyone age 18 and older should have at least a basic estate plan in place. While some people require complex financial vehicles like generational trusts, many people can get by with just a few basic documents. One example of these is a Totten trust. Read on to learn...
A will is valid in New York when it’s in writing, signed by the person whose will it is (the testator) and witnessed by at least two individuals. Thus, a will must have a minimum of three signatures. If you are drafting one, it’s vital to be informed about proper...
Most people name an executor the same way they pick a wedding best man or maid of honor: they choose the person they are closest to and call it done. That instinct comes from the right place. But being a good executor has very little to do with being a beloved family...
Who would pay your bills if you went into the hospital and could not manage your finances for a while? Many New Yorkers sign a power of attorney for exactly that reason. But this document should do more than name a trusted person. It should give that person the right...
You have worked hard for everything you have—your home, your savings, perhaps even a fund for your grandchildren. While many people believe a will is sufficient to ensure these assets go to the intended beneficiaries, that is not always the case. When you pass away...
Blended families in Sayville, New York, often put off estate planning because it requires a difficult conversation. But if you want to protect your current spouse while also preserving assets for children from a prior marriage, you need to be as transparent as...