In times of economic uncertainty, estate plans can benefit substantially from flexibility. As the country both continues to recover from the COVID-19 pandemic as well as face the challenges brought on by new strains of COVID-19, it’s a good idea to consider how to make your estate plan flexible. Not…
When it comes to planning for how your assets will be managed after you pass away, people often make adequate arrangements in their estate plan in regards to their finances as well as physical property. In this era, when an increasingly large amount of information that people have is…
Many myths exist about the rights and responsibilities of U.S. citizens. For example, if you are not a U.S. citizen but are married to a U.S. citizen and have permanent resident status, you might have heard that if your spouse passes away without an adequate estate plan you will be…
As we approach the end of 2021, you should remember to consider and approach many aspects of estate planning. There are also several considerations given potential legislative changes. You should make sure to review your end-of-year estate planning concerns now instead of waiting. This article reviews some of the important…
Family law addresses the rights of family members including spouses during marriages as well as after divorce. When one spouse passes away, however, complex estate planning issues can arise. In the recent Third District case of In Estate of Wall, a federal district court held that title presumption had…
The rise in the number of divorcees in New York as well as the rest of the country has led to a larger amount of blended families. While similar in many ways to traditional families, blended families face some unique estate planning challenges. This article reviews some of the most…
Planning for your children’s educational needs is a worthwhile goal. Fortunately, various options exist for satisfying this goal. A 529 plan can prove to be a powerful tool for paying tuition as well as paying for other education-related expenses while realizing tax advantages. Following your death, however, no certainty…
Democrats in the House of Representatives recently released their plan on how to adjust basic income and estate taxes for both businesses and families. While it’s impossible to provide a comprehensive review of what these various pages contained. This article addresses a few of the major announcements. Only a…
A June article in the New York Times reports that progress is finally occurring in the resolution of the estate of the late James Brown. Despite a clear intent that his estate is used for underprivileged children in Georgia and South Carolina, however, the late James Brown’s estate is yet…
The difference between children born during a marriage and those born outside of marriage might seem insignificant, but this issue can become a substantial one for people who are navigating estate planning issues. In a recent case, Hollywood producer Steve Bing passed away with two illegitimate children. Steve’s father…