When people begin the process of estate planning or take time to review their existing estate plan, they have many tax considerations to think about. How they distribute their assets will determine what taxes, if any, will apply to their estate. They may consider creating a trust for their children,…
In a previous post about healthcare and end of life decision making, we discussed the importance of the election of a healthcare proxy or agent. However, not everyone is able to make these advanced plans prior to an unexpected incapacitation. In June 2010, New York enacted the Family Health Care…
Contrary to the European model, American parents are legally free to disinherit their children, but at the same time, they cannot simply forget or omit their children in their will by mistake. If the child is specifically addressed in the will and, at the same time, the will either fails…