Estate Planning for the Modern Family: The Intricacies of Evolving Family Structures
Aug 09, 2024
In today's diverse society, the definition of a "typical" family has evolved far beyond the traditional model of two spouses and their joint children. Blended families, long-term partnerships with chi...
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Do I Need to Update a Medicaid Asset Protection Trust?
Mar 13, 2024
There are many types of irrevocable trusts, but by far the most common is the Medicaid Asset Protection Trust. The main benefit of the trust is protecting assets for purposes of qualifying for Medicai...
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Do I Need an Irrevocable Life Insurance Trust if I Own a Life Insurance Policy?
Mar 11, 2024
An Irrevocable Life Insurance Trust, often referred to as an ILIT, is an estate planning tool that can help reduce, if not eliminate, an estate tax due at your death. It is a common misconception that...
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Ways a Power of Attorney Can Help You
Mar 11, 2024
A Power of Attorney is a state-specific legal form that enables you to empower someone to manage your finances and assets on your behalf. Having a Power of Attorney in place is always essential, but e...
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Estate Planning with Mental Illness
Apr 03, 2023
To ensure that your loved one suffering from a mental illness is properly cared for during their lifetime and after your passing, take the necessary steps now. What Documents Should Someone Have Who i...
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Should You Add Your Child as a Joint Account Owner?
Oct 31, 2022
There is a long running joke about lawyers never giving straight answers. We prefer to give clients definitive answers but when clients ask us whether to add a child as a joint account holder, we alwa...
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Can a Trustee Sell Real Estate in a Trust?
Sep 21, 2022
Whether a Trustee can sell property in a trust depends on the terms of the trust. “Maybe” may seem like a common attorney refrain to frustrate clients, but the powers of a Trustee depend either on the...
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What to Expect at Your Estate Planning Consultation
Mar 02, 2022
An estate planning consultation is not everyone’s idea of a good time. In some cases, people have put off estate planning for years – if not decades. Discussing the taboo triad of aging, death and mon...
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What Makes a Will Valid in New York?
Jan 26, 2022
A Last Will and Testament allows you to direct where your assets go at your death and who will be legally in charge of the estate. New York Requirements New York law sets forth specific requirements f...
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How much does a trustee get paid in New York?
Jan 05, 2022
Being a Trustee of a trust carries serious responsibilities and trustees are compensated for their time. The New York Surrogate’s Court Procedure Act (“SCPA”) sets the commissions payable to trustees....
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