Estate Planning

What is the Generation-Skipping Tax?

Benjamin Franklin once said “in this world nothing can be said to be certain, except death and taxes.” In America, death certainly comes with plenty of taxes. While most people are certainly aware of what estate tax is, many people are often unaware that there is another form of tax on inheritance, known as the [...]

By |2020-06-19T13:19:21-04:00July 2nd, 2020|Estate Planning, Financial|0 Comments

Effects of the Pandemic – NY on Pause

The COVID-19 pandemic and New York on Pause Order issued by Governor Cuomo have brought to the forefront a lot of issues that many people have not considered. The Pause Order resulted in the closing of the Courts in New York State with these Courts handling matters virtually and employees working remotely. At this time, [...]

By |2020-06-19T13:08:36-04:00June 19th, 2020|Articles, Estate Planning|0 Comments

Long-Term Care Planning

Senior citizens have overcome a lot of risks in life to reach an advanced age. But the biggest risk seniors face is a lack of quality long-term care. Every year, thousands of elderly individuals suffer because they failed to plan for long-term care, even though most will need it. Long-term care can include nursing homes, [...]

By |2019-10-31T09:32:41-04:00October 31st, 2019|Articles, Estate Planning|0 Comments

What Does Power of Attorney Really Mean?

Most people have heard of the term “Power of Attorney” used in courtroom dramas, but aren’t fully aware of what the phrase means. Power of Attorney is a legal device used to grant and recognize the authority of another individual in the stead of another. What is a Power of Attorney Used For? The Agent, [...]

By |2019-09-13T15:15:06-04:00September 13th, 2019|Articles, Estate Planning, Financial|0 Comments

What is Surrogate’s Court?

Surrogate's Court is a special type of court where proceedings are focused around the estate of a deceased individual. It is up to the Surrogate's Court to ensure that the deceased’s creditors are paid and that the remainder of the individual’s estate is distributed either pursuant to the term of the deceased party's Last Will [...]

By |2019-01-17T11:05:42-05:00February 1st, 2019|Estate Planning, Financial|0 Comments

What is an Incentive Trust?

Many movies show a character trying to receive a trust or an inheritance by achieving a specific goal set by the deceased. In movies it is often to get married or finish college. Trusts like these are actually real and not just something Hollywood came up with. In reality, you can set Incentive Trusts for [...]

By |2019-01-17T10:06:27-05:00January 17th, 2019|Estate Planning|0 Comments

Why You Need a Will as a Parent

Some people think it is morbid to write up a Will; however, it is too important to avoid having one, especially if you are a parent. You should update your Will after major life changes such as marriage or the birth of a child. As a parent, a Will is the best way to ensure [...]

By |2018-10-17T13:47:41-04:00November 28th, 2018|Estate Planning|0 Comments

Living Wills and Hospitals

Living Wills are supposed to protect our wishes in the event that you are unable to respond or react in a health emergency. Unfortunately, that may not be enough in an ER situation, if the nurses and doctors are unaware of the laws. When is a Living Will in Effect? A Living Will is a [...]

By |2018-10-17T13:45:19-04:00November 21st, 2018|Estate Planning|0 Comments

Same-Sex Marriage Estate Planning

About one in four new marriages in New York City is a same sex marriage. Under the Marriage Equality Act, gay and lesbian couples can benefit from a variety of different estate plans. Inheritance, Retirement, Trusts, Medicaid coverage and more can be afforded to your spouse now that these laws are in place. There are [...]

By |2018-10-17T13:42:39-04:00November 14th, 2018|Estate Planning|0 Comments
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