Including an Arbitration Clause in Trust Agreements

Including an Arbitration Clause in Trust Agreements

Are you curious about creating a trust as part of your estate plan? If so, you may have many questions. Among them may concern what might happen in the future if the person you name as trustee has a disagreement with the trust beneficiaries. Who will settle a dispute? How much would a dispute cost the trust? There...
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The Ins and Outs of SLATs

The Ins and Outs of SLATs

Did you know that a popular estate planning tool for married couples, a Spousal Lifetime Access Trust (SLATs), may be a good choice for you if you and your spouse would like to remove assets from your taxable estate but preserve access for one of the two of you during your lifetime? Assets placed into a SLAT are not...
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Estate Planning Tips When You Near the Tax Limits

Estate Planning Tips When You Near the Tax Limits

Did you know that the estate tax exemption, currently set at $11.7 million for singles and $23.4 million for married couples, is set to expire in 2026? The current administration, however, has signaled a desire to reduce the exemption, though no one knows exactly when that might happen or how low the exemption might...
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What You Need to Know About New York’s New Power of Attorney Law

What You Need to Know About New York’s New Power of Attorney Law

Did you know that, on June 13, 2021, the New York Statutory Short Form Power of Attorney (POA) goes into effect? The new law brings significant changes to New York’s requirements for how to validly execute a POA as well as to the POA form itself.  While a POA validly executed prior to the new law going into effect...
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Tips on Caring for an Older American During the Pandemic

Tips on Caring for an Older American During the Pandemic

Did you know that 40% of Americans serve as the caretaker for an adult family member? Serving as a caretaker can be both a rewarding and a stressful role. This past year, living through a pandemic, has added some unique challenges for caretakers. If you are a caretaker, or know a caretaker, let us review some tips...
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Why Do Trusts Fail?

Why Do Trusts Fail?

Did you know that a trust is a vehicle into which you place assets to be managed by a selected trustee for the benefit of the trust’s beneficiaries? There can be two essential elements to a trust.  First, there is the trust itself, which is created through a legal document that identifies the purpose of the trust,...
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Two Potential Tax Changes That Could Impact Your Estate Planning

Two Potential Tax Changes That Could Impact Your Estate Planning

Now that President Biden has been formally inaugurated as the President of the United States and the Democrats have control of the House and the Senate, have you considered the impact that a new tax plan may have on your estate plans? There may be two potential tax changes that President Biden proposed during his...
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How Do I Choose an Estate Planning Attorney Near Me?

How Do I Choose an Estate Planning Attorney Near Me?

If you finally reached the important decision to put an estate plan in place, you may have asked yourself, “How do I choose an estate planning attorney near me?” This can be a good question and a difficult one to answer if you do not know where to begin. A cursory search of local estate planning attorneys may yield a...
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