Including charities in your estate plan in New York could reduce how much you pay in taxes. Giving to causes you care about may be a satisfying use of your money and assets after your death. Appreciated stocks Estate planning allows you to transfer your appreciated...
Estate Planning
Common challenges in estate planning
In New York, an estate is subject to state taxes in addition to federal taxes. Taxes are the common challenge most people think about when they create an estate plan, but there are additional factors you should be aware of, such as passing down your business and...
Avoid these estate planning mistakes
In New York, estate planning is an important process that helps ensure your estate gets handled according to your wishes after you die. However, making mistakes during estate planning can lead to complications and problems down the road. Not updating your will One of...
What singles should include in their estate plans
Even if you are not in a relationship, it is still a good idea to create an estate plan. This can help to ensure that the right person inherits your New York home, car, or brokerage account if you pass away unexpectedly. It can also ensure that someone is available to...
A New York will, including requirements, signatures and staples
If you are a New York resident thinking about preparing your last will and testament, there are a few requirements to keep in mind. There are rules about the signature to the document and a curious but important reminder about staples. About a New York will Your will...
Why you need to revise your estate plan in New York
It’s likely that estate planning is not something you want to think about, but it’s a necessity. It doesn’t matter how old you are or what your estate looks like now – estate planning should be on your radar at all times. This article provides some key information...
Estate planning for blended families
A second marriage can offer a new chance at love for individuals who have lost a spouse due to divorce or death. If there are children involved, it is important to think about what will happen to your finances and assets when you pass away. While you can’t ensure that...
Problems with DIY estate planning
There’s an abundance of online help for all sorts of do-it-yourself projects. You can find instructions on how to build a birdbath, fix your phone or prepare a gourmet meal. All you need are a few minutes and a few dollars and your DIY project is ready to go. Not all...
Understanding intestate succession
As you contemplate initiating your estate planning in New York, a stark realization may hit: your decisions regarding the dispersal of your assets may upset some of your potential beneficiaries. Indeed, the last thing you want to do is cause contention amongst those...
Recent changes to New York State Power of Attorney laws
Significant updates to the power of attorney (POA) law in New York were implemented on June 13, 2021. Existing POAs and statutory gift riders will not be affected, provided that they were executed under the provisions prior to the changes. The purpose of the revisions...