“It wasn’t raining when Noah built the ark, But when the rains came, those that failed to get into the ark perished.” If you have never faced a lawsuit from your creditors, nor been in a financial crisis before, then you might think that asset protection planning is useless and meant for other people. Life…
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.
Many people own both commercial and residential real estate in New York. This is a good idea, but when it comes to asset protection for this form of property, there is a huge problem due to the liabilities that they face. Let us look at the various obligations and how they affect the property. Owning…
If you care about your family, you will try and plan your estate early enough to avoid probate. If you procrastinate on it, you will end up leaving your family in turmoil. Lack of proper estate planning leaves your family arguing about the distribution of the estate, encounter long delays and pay a lot in…
Scenario Andrew has been in perfect health since I knew him, but a month ago he called me from his hospital bed and the person I met there was a shadow of the Andrew I’m used to. He was pale and had lost a lot of weight. Story goes that he had a growth in…
For you to avoid postponing your estate planning tasks, it is imperative that you find the right estate planning lawyer to work with you. After you have your financial and family information together, the next important step is to get legal help. Let us look at the top 5 steps to use to get the…
Not every estate plan comes out successfully, some fail even before they start. Poor estate planning leads to high expenses, misunderstandings, despair and cause rifts between the beneficiaries. Without proper directives and preparation, families find themselves embroiled in arguments and indecision that is easy to be avoided with some care and foresight. Many people think…
Now that you have crafted the best estate plan, the next step is for you to maintain it. Remember that you have come a long way creating the best plan, but now the hardest part remains – making sure it stands. Let us look at some of the questions that come up at this stage.…
The health care proxy is simply someone that you pick to make medical-related judgments for you due to illness or disability.Coronavirus has led to thousands of deaths, and when it started spreading, people were unaware of what will happen later on. It is essential for somebody to come up with crucial medical choices for your…
Now that you have seen the impact of coronavirus on people, you need to be ready for anything. Coronavirus affects people of all ages, races and gender. With this said, this is the perfect time to start thinking about these people that are vital in your estate plan.As it stands now, the number of cases…
When you suffer from a chronic illness, or if your loved one is affected by this condition, you need to face the day-to-day as well as the financial implications of this condition.You might not talk about the condition, but it is imperative that you pose some questions and share challenges with the people that can…