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... Read More
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... Read More
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... Read More
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... Read More
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... Read More
Do estate planning attorneys and elder law attorneys practice the same type of law? Estate planning typically involves end of life planning for the disposition of assets. Thus, many people are under the assumption that elder law, because it addresses people in the later years of their life, and estate planning are... Read More
Has the COVID pandemic taught you how isolating it can be when you are unable to engage in your normal routine and get together with your family and friends? For many of us, it has. Our elder loved ones, in particular, may have suffered from feelings of loneliness and isolation during the COVID-19 crisis. Let us take... Read More
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,... Read More
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... Read More
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... Read More
