David Bowie’s Estate This year, we lost two music icons. While the death of Prince came as a surprise to the music community, David Bowie lost his battle with cancer. It was not surprising that David Bowie’s estate was left with almost $100 million dollars, a very large sum of…
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New York Estate Planning & Elder Law Blog
Choosing the Right Estate Planning Attorney for You
Planning your estate is an important step in ensuring that you, your loved ones, and your estate will be taken care of in the event of your incapacity or death. A few documents can determine the type of medical attention you receive, who handles your financial matters, and how your…
The Importance of Vetting Your Elder Law Attorney or Trustee
Recently, in Ocean County, New Jersey, a well known elder law attorney was arrested and charged with stealing money from his clients. The attorney, considered an older adult himself, is charged with stealing over 1.2 million dollars over the course of five years from a number of elderly clients he…
Making Your Estate Plan Your Own
Your estate plan is a way for you to make very important decisions regarding the future of your personal property, financial holdings and legacy. A proper estate plan is truly a gift. It provides peace of mind to the owner of the estate and grants family, friends, and other heirs…
Inheriting Partial Ownership
Inheriting physical real estate, such as a home or vacation cabin, can be tricky to navigate. You have to consider your desire for the property, potential expenses involved in ownership, and the process of transitioning ownership of the property to your name. These situations become more complicated when you add…
Inheriting IRAs: A Legacy Full of Potential Pitfalls
If you inherit an individual retirement account, or IRA, there are a few key rules you should be aware of in order to avoid potential legal, financial, and tax issues. Failure to do so could result in a smaller legacy left behind and a headache for your beneficiaries. Never…
What’s In a Name: Choosing a Name for Your Trust
A Living Trust is an estate planning vehicle that helps you avoid probate by transferring property to the people and charities of your choice. The assets are held in the trust’s name and not in the name of the individual. For this reason, it is important to appropriately name the…
Back to Basics: Estate Planning Vocabulary
Estate planning can be a tricky matter. If it wasn’t difficult enough to make decisions regarding the end of your life and your estate beyond your lifetime, you are also expected to learn and understand a slew of new words and phrases. What are the main phrases you must know to…
How to Properly Choose a Caregiver For your Loved One
There comes a time when difficult conversations must be had with an elderly loved one in your life that requires a caregiver, but is not receptive to the idea. These conversations can initially be overwhelming for both the loved one and the elderly person, as they start to make a…
Female Focused Estate Planning: Long-Term Care
While everyone needs an estate plan, demographics show that women in particular should take steps to address the matter. Living Longer & Needing Care On average, women live five years longer than men. This means women have to face a few realities: (1) they are more likely to…