If you are considering starting the estate planning process, you probably have a lot of questions. After all, estate planning is complicated, and there is a lot of information out there on the topic. In this article, we examine the following common estate planning question: “Is estate planning the same as a will?” For...
How to Pay for Long-Term Care
It used to be that purchasing long-term care insurance was the best way to finance long-term health care costs, whether it be provided at home, with an aide, or in an assisted living or nursing facility. If one currently has long-term care insurance, then you should consider yourself very lucky and you should hold...
Estate Planning for Seniors
As a senior citizen, it’s vitally important that you have an estate plan in place. Not only can you use an estate plan to leave assets to your loved ones, but an estate plan allows you to identify who will make certain important decisions on your behalf should you ever become unable to do...
Probating a New York Will in Florida
Clients who are moving or have moved from New York to Florida frequently ask if the wills prepared for them in New York are valid. The short answer is yes, they are. Florida attorneys may tell clients differently, but the reality is that as long as one can produce a sworn affidavit stating that...
Tips for Being a Snowbird on a Budget
Are you tired of the cold but concerned about the cost? If so, you aren’t alone. Although many people aspire to live the snowbird lifestyle, expenses often get in the way of making this dream a reality. However, what most people don’t realize is that, with a little planning, the snowbird lifestyle is available...
How a Business Can Successfully Deal with Employees
For the business owner, especially small, family-run businesses, relationships with employees need to be handled properly so as to avoid unnecessary litigation and turmoil within the workplace. As a starter, even with a small business, you should have an employee handbook, which clearly explains the duties and obligations of both employer and employee. Set...
New York’s New Power of Attorney Legislation
On December 15, 2020, Governor Cuomo signed a new bill into law which is designed to simplify the power of attorney form used in the State of New York and make it easier for clients to have the form recognized by institutions. A power of attorney is an essential estate planning document which usually...
Will vs. Living Trust: What is the Best Option for You?
When it comes to estate planning, there’s a lot to consider. In addition to deciding who to leave your assets to after you pass, you must determine which estate planning instruments are the most appropriate for your unique situation. In this article, we examine the differences between a will and a living trust. In...
Is Estate Planning Necessary?
For a variety of reasons, many people are under the impression that they don’t need an estate plan. This couldn’t be further from the truth. Estate planning is for everyone. Without an estate plan in place, settling your affairs after you’re gone could have a long-lasting and costly impact on your loved ones. In...
Estate Tax Law Changes On the Horizon
There has been a good deal of talk lately about changes to the tax laws, with the primary purpose of closing loopholes and having the wealthy pay more in taxes. Two proposals, if enacted, could have serious consequences for people who are engaging in estate planning.
One proposal being touted is reducing the federal estate...