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Estate Planning

Sunday, March 29, 2020

How to Get Your Affairs in Order During this Public Health Crisis


We are all experiencing an event in life which none of us have ever before experienced, so it is natural to get anxious and panic about the future.  With some knowledge, however, one can take steps to avoid the anxiety, when it comes to estate planning.

With a lot of free time on our hands, it is an opportunity to get important documents together and to review them carefully.  Everyone should have a will, health care proxy/living will and durable power of attorney.  The latter two documents are most important now, with the health crisis looming.


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Thursday, March 12, 2020

What Should I Consider Including in My Estate Plan?


Regardless of income or assets, everyone needs an estate plan. However, estate planning can be confusing, primarily due to the sheer number of available estate planning options available. In order to give you an idea of what you may want to include in your estate plan, we've compiled a list of the most important estate planning things to consider. After reviewing the information below, feel free to contact our


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Tuesday, February 11, 2020

The Importance of Picking the Right Trustee


A trust is a fiduciary relationship in which one party (the trustor) gives another party (the trustee) the right to hold title to assets or property for the benefit of a third party (the beneficiary). When creating a trust as part of your estate plan, it’s imperative that you choose a trustee that will carry out your wishes efficiently and honestly. Below are some tips on how to pick the right trustee.


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Thursday, January 30, 2020

The Importance of Properly Titling Assets




While it is certainly advisable to review one’s estate planning documents, from time to time, to make sure they continue to reflect your wishes, it is extremely important to pay special attention to the titling of your assets. 

ost married couples own all or most of their assets jointly, with rights of survivorship.  Owning assets in this manner is quite convenient because it gives both the husband and wife easy access to accounts.  If all assets are owned jointly, probate can be avoided.  Often this joint ownership is fine, but if one has estate tax or long-term health care concerns this form of ownership should be reconsidered.


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Thursday, December 5, 2019

What Is Estate Planning?


Estate planning is the process by which a person plans for the management and transfer of his or her assets during life and after death. Everyone has an estate, and it's important to make arrangements to pass along one's estate in a manner that minimizes legal fees, taxes, and court interference. Thus, anyone with any property at all should contact an estate planning attorney to begin arranging for the transfer of estate assets. If you would like to learn more about the estate planning process, please review the information below, and contact an
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Wednesday, October 30, 2019

Ancillary Probate: What is it?

When someone passes away, as a resident of one state owning real property in another, it is necessary to do an ancillary proceeding.  If the decedent died leaving a will, then it is referred to as an ancillary probate, while if there was not will, it is usually referred to an ancillary administration.

Quite simply, the law, applicable to all fifty states, is that when one dies owning real property in a state other than where one resided, you not only need to probate the person's will (or administer his/her estate) in the state of residency, but in other states where the person owned property.  Of course, this can become an expensive and tedious process, especially if the person resided in or w

 


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Monday, September 16, 2019

In Focus: Post-Divorce Estate Planning


A well-conceived estate plan will help you prepare for the expected and the unexpected. A will, for example, declares how your property will be distributed after your inevitable death, while a power of attorney designates a trusted person to manage your personal and business affairs in the event that you become incapacitated without warning. But how does a divorce impact an estate plan? The best way to protect your interests in this situation is to consult an experienced estate planning attorney.
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Sunday, September 8, 2019

Organizing One's Finances and Updating Asset Lists

It is not usually necessary for clients to have their wills and/or trusts updated, if they have been prepared properly in the first place, unless there have been changes in one's family and/or circle of friends.  It is imperative, however, that one update their asset list on a regular basis.  What is meant by this?

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Wednesday, July 17, 2019

Why Should You Have a Power of Attorney?


With a power of attorney, you are essentially empowering another to act on your behalf in a legal capacity. You, the principal or grantor, authorize your attorney to carry out legal and business actions on your behalf. The power of attorney is an important aspect of the estate planning process. It can prove invaluable in a variety of critical circumstances.

Why Should You Have a Power of Attorney?

Establishing a power of attorney allows you to grant legal authority to someone you trust and enable them to act on your behalf in a variety of circumstances.
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Friday, July 5, 2019

Important Changes Affecting Health Care Planning



    For many years, purchasing long-term health care insurance was seen as the perfect way to pay for health care needs in one’s later years.  There were many great policies, which offered home care, nursing home care and care in assisted living facilities.  While many complained that the premiums were high, when weighted against the benefits, it seemed like obtaining the insurance made incredibly good sense.  

     Unfortunately, over the last few years, many companies are no longer offering long-term care insurance, and the premiums on the ones which are being sold are exhorbitant.  One option which is now being touted as an alternative is the purchase of a type of life insurance policy which has a long-term care rider.
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Monday, June 24, 2019

Medicaid Trusts


Medicaid is a need based government assistance program. To qualify for Medicaid, your income and other financial resources must fall below a certain threshold. Unfortunately, if you do not qualify for Medicaid, you can quickly see your assets dwindle as the cost of long term medical care is very expensive. The costs will eat up your financial resources and assets you wished to leave to your family and loved ones. Additionally, Medicaid only provides for certain basic care needs.
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At the Law Office of Angela Siegel, we are pleased to offer legal assistance to clients located in Nassau, Suffolk, Queens, Kings and New York Counties specifically but not limited to Garden City, Jericho, East Meadow, Mineola, Syosset, Roslyn, Cedarhurst, Woodmere, Hicksville, Plainview, Merrick, Wantagh, Bellmore, Rockville Center, West Hempstead, Little Neck, Douglaston, Bayside, Flushing, Forest Hills, Astoria, etc., as well as clients located within the state of Florida.



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| Phone: 516-741-6100

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