Blog & Resources
After years in other fields, including tax , corporate finance and employee benefits, I felt I could make the biggest impact on individuals by providing personal service, one client at a time. With years of background in taxes and employee benefits, I have unique expertise in estate planning, taxes, probate, business matters, and other asset planning services.
Estate Planning Tips for Snowbirds
For many New Yorkers, what starts out as a seasonal home morphs into a primary residence. Aside from the weather, Florida attracts new residents because it has a property tax increase cap on homes that are primary residences and no state income tax. New York State income tax presently graduates from 4% to roughly 8.82% on amounts above $2 million.
Why You Must Have a Will!
You absolutely need a will if you want to provide for your significant other, best friend or favorite aunt. Otherwise, they will only inherit if they are named as an account beneficiary. Without a will, your closest family members will inherit. People balk at going to a lawyer to tend to this because it brings up a time of life we don’t want to think.
Using Living Trusts As A Will Substitute
Instead of leaving property to a loved one under a will, clients often create a “living trust” to get the job done. With a living trust, it is easier to change beneficiaries, as well as who gets what when you pass away. Changes to a living trust can be made more easily than changes to a will.
Estate Planning for Your Home and Your IRAs
For many clients today, their homes and IRAs represent their biggest assets. And both require special care and handling when leaving them to loved ones as part of an estate. Real estate passes per title on a deed and IRA assets pass to those designated in a beneficiary designation form. These assets only pass under a will if there is no joint name on a deed and no beneficiary designation form for an IRA.
Probate Vs. Non-Probate Assets
Probate is the process of having a court determine if a will is properly executed so that estate administration can get underway. As part of the process, a fee is paid to the county and notification is given to creditors, heirs, and beneficiaries. What most people don’t know though, is that the only assets which pass under your will, are those in your name alone. Assets which pass under your will are known as “probate” assets.
What Happens if You Die Without a Will?
When you ask what will happen when you die, it’s not just an existential question. You want to know what will happen if you die without a will. There’s a myth that the government will take your assets, but that’s not true. Instead, your assets will be distributed to your heirs based on the laws of intestacy. To put it simply, your relatives will inherit your assets if you don’t get help from a will attorney.
Will the GOP’s Tax Plan Affect You?
Typically, I don’t write about tax bills because they may never become law. Congress’ latest plan for tax reform stands out, though, because it proposes to change many longstanding tax rules. But a lot of horse-trading goes on before final laws are enacted, and that’s already started.
Understanding Probate: And How to Avoid It
Here is some more information about probate: Understanding Probate What is Probate? Probate is the legal process of petitioning the court to declare that a will is valid and appointing an executor to oversee the estate. The executor is the person chosen to carry out...
Title, Not Possession, Is 9/10ths of the Law
But when it comes to “legal” ownership of property and assets, the law often spells out who owns what. It’s important to follow the rules to protect your rights, because for many things, possession isn’t 9/10ths of the law. Let’s look at some common examples: JOINTLY...
Digital Assets in Your Estate Plan
As more and more people migrate their banking, purchases and private activities online, we become ripe for the taking by the unscrupulous. How can this impact my mother? Well let’s just follow yesterday’s headlines. Over 6 million linked in passwords were posted...
Planning for Highly Appreciated Assets
When you acquire property (real estate, investments, etc.), what you pay for property you acquire is known as your “cost basis” or investment in the property. It is this number that becomes important when you determine the tax on any gain, when the property is sold....
Our Services
After years in other fields, including tax , corporate finance and employee benefits, I felt I could make the biggest impact on individuals by providing personal service, one client at a time. With years of background in taxes and employee benefits, I have unique expertise in estate planning, taxes, probate, business matters, and other asset planning services.
Estate Planning
If you’re shepherding a parent through the next stages of life, or concerned about elder law, we can take care of you. If you’re considering creating a trust, doing tax planning, or re-titling deeds, you can contact us and put your mind at ease.
Medicaid
Many folks learn about Medicaid only when they realize they no longer have the funds to care for themselves or a loved one. We assist clients navigate the particulars of Medicaid, and how they can manage and protect their assets.
Probate
When a person passes away, a lawyer is often called in to handle the paperwork involved with settling an estate’s assets. If you’re facing probate for the estate of a friend or loved one, we can help you through the process.
Business Matters
If you’re forming a new business, or need assistance with your current businesses’ operations, we can help. We can assist with business agreements, contracts, legal documents, equipment leasing, corporate documents, equity documents, and more.
