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Articles Posted in Estate Planning

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Is the IRS Going to Crack Down on Non-Cash Charitable Deductions?

Our estate planning attorneys often help New Yorkers create trusts that are used to pass on assets to charities. When structured properly, gifts to favorited causes is both a great way to give back and a smart financial move to save on taxes and ensure that your long-term inheritance wishes…

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Lottery Winnings, Murder, & Estate Planning

The Daily Jeffersonian published a story recently on the bizarre details of a case involving a lottery winner’s apparent murder and the subsequent estate battle. Like the plot of a Hollywood crime drama, the tale includes a mysterious death, a series of hidden family feuds, and considerable money on the…

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Potential Heir in Huguette Clark Case Dies During Inheritance Feud

Timing is of critical importance with estate planning matters. Obviously, a plan must be in place early enough to be of use before one falls ill or suffers from mental issues. For example, creating a will or trust may be impossible after one suffers a stroke or succumbs to serious…

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Fiscal Cliff Negotiations Move on to Estate Taxes

The political wrangling to avoid the so-called “fiscal cliff” continued this week. Many different issues are all tied up in the negotiations, including income tax rates, defense spending, entitlement spending, and control of the debt limit. However, various reports suggest that the both sides in the political battle–primarily the Obama…

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Donor-Advised Funds for Charitable Giving

The holiday season is a popular time for charitable giving. It is helpful for those considering gifts–particular sizeable donations–to properly think through all of the tax and legal implications. There are smart ways to make contributions and clumsy ways. As always, an estate planning lawyer or similar professional can explain…

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Face Retirement: Psychology to Spur Long-Term Financial Planning

Virtually everyone agrees that it is important to invest for retirement, take care of inheritance details, prepare for long-term care, and otherwise plan for the future. But there is a big difference between understanding the value of these tasks and actually taking the time to do it. Considering the financial…

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First “Fiscal Cliff” Proposal Made — What It Means for Estate Planning

You cannot turn on the TV, flip open a newspaper, or pull up a news website this month without seeing the words “fiscal cliff.” As many are aware, this refers to sweeping, mandatory federal tax and budgetary changes that are set to take effect January 1st unless the Congress and…

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