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…
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.
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…
The NewYork probate process can be challenging and hard to navigate most of the time when you don’t have a lawyer to help you. When the estate comprises of rental property, then the probate process becomes more challenging. Most of the owners of real estate are out of the state. This usually complicates the succession…
When you own business, be sure about who takes over the business when you die. Passing on will be stressful for the family – you don’t need to make them more stressed with succession for your business. More than half of small businesses fail after the original owner passes away. By the time you turn…
Business real estate probate takes place once the owner passes away and they leave behind assets and income that needs to be shared between the beneficiaries. Real estate can only be probated when there is no will or living trust to guide the inheritance process. When a business owner passes away without a will or…
Avoiding Probate on Agribusiness Assets as Recommended by a Competent Probate Attorney Near Me 11030
Most countries allow certain business assets to be transferred to beneficiaries free of tax once the owner dies. However, this is not a guarantee. Large businesses may have bigger problems sharing their assets among beneficiaries because most of these businesses include offshore operations. As an agribusiness owner, part of your planning should include considering what…
A sole proprietorship is a business operated by one person. It is very common with small business we see around us. Such businesses have a harder time to recover when their owners die because of their nature. Most do not plan in advance to safeguard their businesses as it is mostly a one-man show. Writing…
The probate process can be quite long and exhausting, so if one can avoid it then the better. Business owners can plan well and save their businesses from going through probate. In a business partnership, there are two or more people who own the business; hence they would have to agree on ways to go…
Securities are tradable financial assets. These represent an investment on your part, and for businesses, they are means by which you can raise capital for your business. Securities are regarded as assets for individuals and businesses, which mean you need to secure them for the future. Failure to do so means they might end up…
The route to estate planning is complex and long-drawn. There are many angles that you need to check and review at regular intervals to keep your estate plan relevant. A smart probate attorney near me 11560 will be in a position to help you create a clear strategy. The strategy should be one that will…