New York Estate Planning & Elder Law BlogThis weekend our New York estate planning attorney Bonnie Kraham had an article published in the Times Herald-Record where she explained the importance of beneficiary designations in New York estate plans. These designations are often less well-known than other aspects of an estate plan, such as trusts, wills, health-care proxies, and powers of attorney. The […]
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New Twist in Huguette Clark Estate Plan Controversy
Yesterday there was a new twist in the high-profile New York estate planning story involving Huguette Clark, the woman who died this year leaving behind a $400 million Gilded Age fortune. As we discussed earlier this week, the woman’s family was not provided for in her will. Instead her fortune was given mostly to a […]
Questions Remain About Huguette Clark’s $400 Million New York Estate Plan
New York estate planning is a necessity for virtually all local residents, no matter where on the income scale one falls. Easing the emotional, social, and financial burden on one’s family and ensuring wishes are carried out upon one’s death is important if one has $400,000 or $400 million to pass on. Unfortunately, New York […]
New York Estate Planning Lawyer Explains Dangers of Joint Accounts
Many local residents have found themselves facing unexpected problems after trying to create a New York estate plan on their own. Community members often mistakenly believe that joint ownership of property and accounts can be used to avoid probate and transfer assets. While joint ownership may be helpful in certain circumstances, in most cases it […]
Proper New York Estate Planning Necessary to Combat Possible Legal Challenges
Our New York elder law estate planning attorneys are proud of our work as counselors at law, acting as trusted advisors for the clients who count on us. In this capacity we spend each day meeting with community members to understand their family dynamics and listening to their concerns and fears about the planning process. […]
How to Take Advantage of New Tax Relief Act
Many in our area have decided to visit a New York estate planning attorney this year in order to learn how they can take advantage of Tax Relief Act which President Obama signed in December. As many are aware, the law allows individuals to give gifts up to $5 million without triggering any tax losses. […]
New York Estate Planning is Much More than Wills & Trusts
When many area residents are told to consider visiting a New York estate planning lawyer their mind immediately envisions someone who will craft a will or a create a trust. However, estate planning is much more than document creation. Instead, it is best viewed as a process by which an individual works to eliminate future […]
Revocable Trust Lessons After the Death of Stephen Sondheim
When Stephen Sondheim recently passed away, he passed on all rights associated with his theatrical work including several well-known musicals including several unfinished pieces to a trust, which will be tasked with managing his estate. The Sondheim trust now will assess the future of the well-known artist’s intellectual works in addition to any other assets […]
Avoiding Undesirable Estate Planning Situations
TV shows often depict unpleasant estate planning situations that can arise including a deceased person leaving assets to a former spouse. While these situations often do not occur in the way depicted on TV or film including the recent Netflix film I Care A Lot, a former spouse could end up receiving assets from your […]
Estate Planning Advice for Single Parents
Our lawyers recently heard of a divorced individual who passed away and left two children below the age of 18 years. When the person passed away, the individual had no will in place. As a result, it was uncertain who the deceased individual wanted to appoint as a personal representative of the estate. Remember, […]