As the world changes, technology stands firm. Every aspect of the lives we lead is now controlled by technology. However, estate planning is taking longer to adapt to these changes. The will has been around since time immemorial. Property is passed from one generation to another through a will, but sadly, the world is still…
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.
Most people see their business either as the only or the most valuable asset. Not only is the business a source of livelihood, but it also acts as the culmination of one’s dream. Like any other asset, every person needs to develop a sound plan that covers the business in the event of death. Business…
Very few estate planners provide estate planning for digital assets for their clients. With time, digital assets have come of age, and they need to be protected. Failure to do this means that the assets’ beneficiaries find it hard to handle the assets, especially without any planning involved. Bitcoins valued in millions of dollars have…
Depending on your own and the family relations, the naming of beneficiaries – the people you choose to inherit the assets, can be one of the challenging aspects of coming up with a comprehensive plan. The more beneficiaries you have, the harder it is to pass on your estate. When you don’t have any family…
Crisis estate planning From Home due to Covid-19 from the Perspective of a “Probate Lawyer near Me 11023”
The coronavirus outbreak hasn’t been easy for everyone. While you have had an estate plan in place, the pandemic changes the way you plan and your inheritance structure. With the pandemic, anything is possible; you don’t know whether you will still be around next week or be incapacitated. This is why you need to have…
How business owners title their assets goes a long way in determining the implications. It is always wise to hold titles in such a manner that facilitates probate avoidance. When purchasing real estate or any other property as a business, it is important to have asset protection measures in mind. Besides avoiding probate, business owners…
Business assets are divided into probate and non-probate categories. Non-probate assets are transferred directly to designated inheritor without the involvement of the probate court. While probate assets are anything that was owned by the deceased and must pass through petition in a surrogate court before distribution to their rightful inheritors. A grant of representation is…
Working With A Probate Attorney Near Me 11050 To Execute Beneficiary Designations In Business For Probate Avoidance
There are several ways one can avoid probate on their business, one of them is to name beneficiaries in advance to inherit the business. This means that at the point of death, the beneficiary can directly inherit the business without having to go through a long process. This saves the owners expensive costs of going…
You can avoid probate on some assets by establishing a contract that grants ownership of the property. A contract refers to a written agreement that governs the relationship between the differentparties that are involved in the agreement and the assets in question. The contract sets forth how the property has to be used when you…
An enhanced life estate deed acts like a normal property title deed, but it is customised such that the estate is passed on to a beneficiary or “gifted” to them, upon the death of the owner of the estate. Because of its nature, such a deed does not go through probate as it is clear…