Comprehensive estate planning is a lifelong process. There are always reasons to review and update your estate planning portfolio, including major life events life births or divorces. Not only does estate planning need to be a part of adjusting to major life changes, but the components of your estate plan…
Most people engage in comprehensive estate planning to ensure that the things they have worked for throughout their life can pass along to their heirs. Preserving your assets is an important part of ensuring that you are able to pass as many assets to heirs as possible. There are a…
The popularity of trusts in estate planning has increased steadily over the last few decades. They are often excellent vehicles that can help people protect their assets and avoid excessive tax penalties related to such assets. One of the more traditional types of trust is known as a Crummey Trust.…
Comprehensive estate planning is an important part of aging, especially if you have already started a family. Estate planning for young families can be an unpleasant topic, but it is extremely important. Making sure that your heirs are provided for not only provides you with peace of mind, but also…
Comprehensive estate planning can be a confusing process. It can be even more confusing with larger estates or with multiple children. Parents want to ensure that their estate plan provides for their children’s financial security, but in circumstances where children may be in different financial situations or a variety of…
A Recent Private Letter Ruling By The IRS Concluded That A Modification To A Faulty Fiduciary Provision Did Not Result In A Loss Of The Trust’s Grandfathered Generation Skipping Transfer Exempt Status The taxpayer who submitted the modifications to the inter vivos trust for an IRS private letter ruling found…
You have finally done it; you took the necessary and important step to sit down and put together an estate plan with a qualified New York estate planning attorney. You have all of the necessary documents you need to move forward confident into the future about how your assets will…
CHOOSING THE RIGHT PERSON AND STEPS TO TAKE As noted in a previous blog, being an executor of an estate can be a thankless job. There are ways, however, that can allow you to make the job and life of an executor easier and less painful. It is a…
HUGUETTE CLARK AS EXEMPLAR The last member of the gilded age passed away just a few years ago. Huguette Clark’s life, in some ways, seems to mirror the classic Orson Welles classic One of the first things that she did to insure an estate battle was to pass the entirety of her…