As Bill Gates prepares to navigate the divorce process, divorce has again entered the public consciousness and caused many people to question the nature of how marriages dissolves and how it impacts various aspects of our lives. One often overlooked aspect of divorce is how it can impact overall plans…
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New York Estate Planning & Elder Law Blog
Ways to Avoid Retirement Savings Tax Issues
Taxes continue even after you retire. Choosing not to pay attention to the possibility of taxes incurred during retirement could substantially lower your standard of living in retirement. To make matters even more complex, some of the common-sense strategies that people utilize to reduce taxes can lead to paying more…
Advice on Estate Planning for an LLC Interest
For many business owners, it’s a critical issue to make sure that business organizations including LLCs are properly structured. While many business owners have created revocable living trusts to articulate how their assets should be managed and to avoid probate, it’s a good idea that LLC interests are not put…
A Simplified Power of Attorney: Holding the “Short” Form Power of Attorney to its Name
The crisis brought by COVID has served as a stress test for many of the laws and regulations effecting our nation’s seniors. The power of attorney, a document that gives one person, the agent, the legal power to act for another, the principal, fills a dire need to put control…
How the Covid-19 Pandemic Has Increased the Risk of Elder Fraud
The elderly are at risk of financial abuse, and unfortunately, the Covid-19 pandemic has led to an increase in the rate of financial abuse. Abusers are known to look for individuals who are particularly vulnerable and factors like death, incapacity, health challenges, and diminished capacity can all lead a person…
California Court Decides Sonoma Trust Case
A Court of Appeals in California recently affirmed a trial court’s award of attorney fees to a trust. This decision came after the trust tried to enforce a conservation easement. The defendants in the case owned land and were accused of intentionally violating an easement. This case raises an important…
Are Lifetime Gifts Right for You?
One of the primary purposes of estate planning is to appoint someone to handle your estate after you pass away as well as describe how you would like your remaining assets distributed. Many people decide that the best way to pass on assets is to family members, which often include…
Should You Revise Your Estate Plan After Your Children Age?
Perhaps at the beginning of your marriage, you met with an estate planning attorney. If children have recently entered your life, however, it’s important to make sure that your estate plan contains various important details. This article reviews just some of the most key considerations that you must have if…
Saving Wakanda: Estate Planning Lessons from Chadwick Boseman
One of the most undesirable situations in the field of estate planning is a person becoming incapacitated or passing away without the proper estate plans in place. To die intestate means that a person passes away with no legal will. This means that if a person intestate, the distribution…
Important Estate Planning Issues if You’re Moving Abroad
The Covid-19 pandemic has caused some people to leave the country. There also many other reasons why people choose to take residence in a foreign place including job opportunities or to live closer to loved ones. If you’re planning on moving out of the country, it’s critical to understand some…