If you don’t come up with a clear succession plan, then your business property will end up in probate court. The process involves your property going to the probate court to decide what happens to the property. Avoiding probate is the best gift you can give to your loved ones when you pass away. Let…
In the articles section you can find blogs that discuss all areas of Estate Planning. By going to the articles section and reading some of the blogs you are able to better educate yourself on the different products and concepts of estate planning.
Estate Planning includes:
- Planning for pass through of assets upon death,
- Planning for minors (Setting up guardianship designations or special needs trusts),
- Utilizing tax mitigation strategies (for example the current gift tax exemption),
- Creating a form of asset protection (from creditors and predators or as a form of marital asset protection),
- Setting up healthcare proxies ( giving someone your trust the ability to make healthcare decisions for you in the event you are unable to do it for yourself),
- Setting up Power of Attorney (enabling someone to make executive decisions regarding your assets and finances in the event you are unable to and it is necessary),
- Medicaid or Retirement Planning (Divesting yourself of assets to qualify for Medicaid or Government subsidies),
- End of life planning using living will or last directive (Indicating burial requests and tube feeding or resuscitation in the event it is necessary).
In the articles section we have gone ahead to make it easier for you to find the topic of interest by creating subcategories. Our goal is to make it simple and easy for people to come to our website in order to educate themselves about the different types of trusts for example Revocable Trusts and Irrevocable Trusts or Special Needs Trusts and Supplemental Needs Trusts.
In the articles section you will find the following subcategories:
In this section you can find a broad stroke of articles/blogs covering all topics related to creating and understanding an estate plan.
A very common concern for people with families or high risk professions for example doctors, lawyers, policemen, firemen, accountants and so on. Newlyweds seeking marital protection and people with large cash liquidity might also be worried about their exposure and seek asset Protection.
At some point in our lives we are done working and are ready to retire and want to know the best practices for retiring. Here you can learn about pass through of assets, divesting of assets and planning for your final days.
Here you can learn about tax mitigation strategies.
Here you can learn about assigning guardianship for minors or assuming guardianship over a loved one who is mentally handicapped.
Everyone wants to plan for events while they are alive and not just after death learn more here.
What happens when someone dies or passes away with a Will.
Flexibility when it comes to planning.
The different types or forms of trusts and their uses.
Planning for Medicaid and Retirement.
Special Needs Trust
Planning for people with disabilities.
Planning for pass-through of assets.
Will and Trust
Different uses of having both documents a Will and some form of Trust.
If you are shopping around or look for ways to vet an Estate planning Attorney/Lawyer and wish to better educate yourself on the topic the articles section is for you.
One of the ways to avoid probate on investment accounts is by adding potential heir to any investment accounts that you own. This will help save your heir’s money, time, and energy the time they need it most. You can reduce the challenges that come with failure to name heirs by ensuring you communicate your…
Probate Lawyer Near Me 11518: Pros and Cons of Using Transfer on Death (TOD) Accounts to Avoid Probate
Transfer on death accounts allow for the beneficiaries to receive assets at the time of owner’s death without going through probate. We won’t talk about setting up the account as we have done so in earlier posts. You can also talk to your “probate lawyer near me 11518” to get the procedure. Pros Of Using…
The kind of business determines how it is to be handled basing on how it was owned and operated and the wishes of the deceased left in the will. The executor acquires a letter of administration to enable them govern business during probate. Business assets are dealt with differently basing on factors like if the…
Every online entrepreneur needs a living trust. A living trust is an instrument that empowers entrepreneurs to decide how their investments will be distributed upon their passing. Among other benefits, a living trust protects the family of the business owner from being troubled with obligations including personal debts after they are gone. Setting up a…
Probate Lawyer Near Me 11510 Tips: How to Avoid Probate on Motor Vehicles Using Transfer on Death Accounts
One of the best options for avoiding probate on cars in New York is to make use of Transfer on death (TOD) accounts. This is an arrangement whereby when you, unfortunately, pass on, the ownership of the vehicle is passed onto the named potential heir without passing through probate. If cars stay without being used…
When it comes to avoiding probate, you have two tools that make things easier for you – the will and RLT. These two tools are effective estate planning documents that help you direct the management and distribution of assets after you pass on. So, how do you know which tool to use? Read on to…
Joint tenancy is a situation where two or more people own a property or assets. The two are bound together by a legal agreement that they sign, that has recommendations and directives that dictate the partnership. Each partner has an obligation to meet, for the benefit of the property ownership. They each have a responsibility…
People who own business assets with others can easily facilitate inheritance of their shares outside probate after death. As a business owner, you may consider titling your assets jointly depending on your state’s laws. By definition, joint ownership refers to the possession of the same asset by more than one person. These assets not only…
Apart from writing a will, you may also decide to put your business assets into a trust. This is a legal platform that facilitates the distribution of any assets you possess to your beneficiaries without probate. The business owner or grantor dictates the conditions of the trust. Such terms include naming the beneficiaries, and listing…