Nobody likes talking about what will happen after their death. But it is a universal truth that every one of us will die at some time, which is why it is absolutely critical to create a funeral plan. One of the best ways to make sure that your loved ones…
Schedule an in-office, Zoom or phone consultation Here.
New York Estate Planning & Elder Law Blog
Recognizing the Common Mistakes that People Make with IRA Accounts
For many individuals, retirement accounts are one of the largest assets that they have to pass on to loved ones throughout estate plan. Without the assistance of a knowledgeable estate planning professional, however, it is very common to make mistakes including with IRA’s. In the hopes of helping you…
More Good Reasons to Add a Trust to Your Estate Plan
Trusts are an excellent way to pass and preserve wealth privately. Two of the main benefits of using a trust to pass your assets – timeliness and cost – were explored in our previous post. Unlike the probate process that accompanies the settlement of an estate by will, a trust…
5 Pieces of Estate Planning Advice for People Without Children
There are a number of myths that continue about exactly who needs an estate plan. For example, couples without high value assets can still benefit from estate plans. Another common myth is that a person who does not have children has no need for estate planning. In reality, it…
Misconceptions about Power of Attorney
Many people are familiar with the concept of “power of attorney”, but less have an idea about these documents operate. A power of attorney is used to give one or more individual the power to act on your behalf or as your agent in case something happens to you. …
Adding a Trust to Your Estate Plan
Trusts are an excellent method for individuals with substantial assets to pass their wishes and wealth to others or a charitable organization when they pass. The key to an effective trust begins and ends with documentation. The proper documents, when drafted carefully by a qualified attorney, ensures your beneficiaries will…
Things to Consider when Selecting a Person for Power of Attorney
Most people are familiar with the concept of power of attorney even if they are not familiar with the various nuances associated with the estate planning process. Power of attorney allows a person to appoint another individual as an agent who will make financial and health care cases in…
Advice on Successful Family Meetings after Divorce
Even after divorce, it is still important to get together with the people we love and value and the most. The families of divorced parents, however, discover that these events are often stressful and that there is a substantial chance negative emotions can get in the way. When former…
Drug Prices Continue to Soar
By all accounts drug prices continue to soar. According to a RX Savings Solutions Study, a heavily prescribed antidepressant, fluoxetine marketed as Prozac, has increased in price 879%. More than 3,400 drugs have increased their price in the first six months of 2019, representing a 17% increase from the year…
Common Type of Estate Planning Mistakes (and How to Avoid Them)
As estate planning professionals, we encounter a number of situations and are very familiar with the most common types of estate planning errors that people make. No matter if these mistakes are the result of laziness or lack of care, errors in estate planning have the potential to create…