For a long time, Medicaid has had the reputation of being a program that provides insurance and other benefits to poorer individuals throughout the United States. In some ways, recent contentious debates have deepened that image. However, a recent article from Business Insider points out that this is simply not…
An important consideration in anyone’s estate plan is to consider appointing a trusted individual to make important health and financial decisions in any case where the testator may be incapacitated and unable to act in their best interest. One way to do this is to create a durable power of…
If you are in sole proprietorship of your business, you have a number of options to hand over your company when it comes time to retirement or pass away unexpectedly. If you do not have partners in your business, you are generally within your right to hand over the entire…
Whether you are choosing an executor for your Last Will and Testament or a trustee for a trust you have established, it is clearly important to make the right decision. You want to choose someone trustworthy, responsible, and capable of carrying out the responsibilities being entrusted to them. That is…
Saving for retirement just became more difficult for thousands of Americans relying on the Treasury Department’s myRa retirement savings account as the agency recently announced it would wind down the program. In a statement released on the Treasury Department’s website, the agency said the $70 million in costs since 2014…
Among the many new trends emerging in a variety of places around the world is the idea of micro-living. The idea behind micro-living is to minimize the space you live in and consequently minimize associated costs, and potentially your impact on the environment. However, it is the reduction in cost…
Estate planning often involves discussions about investments and other forms of financial planning. Inevitably, life insurance will likely enter the discussion as well. However, when considering life insurance as an estate planning strategy, it is important to understand the limitations that come with life insurance. These limitations often depend on…
In New York, estates with real property valued at less than $30,000 are considered “small estates” and may be able to pass through probate court much more quickly than larger estates, if the executor handles the process correctly. Although small estates can pass through a simplified probate process, executors will…
Recently, we have written on the intricacies of estate planning when an individual owns foreign property. If you own international property or have other estate assets that span two or more countries, one of the most effective ways to ensure that your estate is properly administered according to your wishes…
Dynasty trusts often conjure up images of very wealthy families that have a great deal of money to pass onto their heirs. However, dynasty trusts can actually be an effective tool for families with more average assets to distribute. Investopedia defines dynasty trusts as long-term trusts established to transfer wealth…