Blog Posts in 2011

  • Estate Planning is Crucial for LGBT Community in New York

    || 30-Dec-2011

    Elder law and estate planning are important to many New York residents. These topics are for everyone, regardless of sexual orientation. For many in the LGBT community, these issues are becoming important as they reach retirement age. In a recent study, it was revealed that gays and lesbians in the millions will be reaching age 65 during the next two decades. Many of those people are worried about ...
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  • In New York probate and estate administration, there is typically someone appointed either by the court or through the wishes of the deceased who is supposed to act on behalf of the estate. That includes ensuring that the heirs receive what is rightfully theirs, and that rightful claims against the estate are satisfied. To help illustrate this, it may well be worthwhile to examine the actions of ...
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  • Estate Planning Tax Tips that May Be a Limited Time Offer

    || 16-Dec-2011

    New York residents with significant assets or accumulated wealth may want to take advantage of current tax breaks when it comes to their financial affairs. With Congress ready to find ways and means to generate revenue into a flailing economy, the tax breaks to the wealthy including those pertaining to estate planning, may be the first on their chopping block. Many professionals in the field of ...
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  • Estate of Wealthy Heiress in Will Contest

    || 11-Dec-2011

    On May 24, 2011, a wealthy and reclusive New York millionaire passed away leaving behind a $400 million estate. However, many questions have been raised, and allegations of wrongdoing have been leveled against the attorney and accountant for the deceased woman. Moreover, it now appears that the family of the woman may initiate a will contest following the discovery of a second will. The wealthy ...
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  • A brewing probate dispute may be of interest to many New York. It involves former Penn State Coach Joe Paterno who is, at age 84, still very much alive. But eyebrows were raised when it was announced that Paterno "sold" his home to his to his wife last July for $1. Was it simply a part of normal estate planning? If it was an attempt to protect his house from potential judgments instead, ...
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  • Estate Planning for the Family Farm Can Be Complicated

    || 20-Nov-2011

    Before the Industrial Revolution took full swing in New York, farm inheritances were simple. The family business got passed down from one generation to the next, until industrialization made things a little more complicated. Today, estate planning with a farm can get complex when not all family members are participatory members of the family farm. Dave Goeller of the University of Nebraska has ...
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  • Estate Planning and Retirement Go Hand in Hand

    || 12-Nov-2011

    For those New York residents that are already retired or approaching retirement age, there are a number of important steps to help make the golden years all that they can be. A Michigan financial advisor recently made note of some things to consider. Surely, anyone who has not yet prepared an estate plan should get started. In deciding with whom to confer, a top-selling author suggests that ...
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  • Portability May Complicate Estate Planning

    || 4-Nov-2011

    While the new "portability" provision in estate tax law is considered a plus for many married couples in New York and elsewhere, it comes with both short and long term issues requiring careful consideration. Basically, portability allows surviving spouses to benefit from any unused portion of the estate or gift tax exemptions of their last deceased spouse. The idea behind it was to ...
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  • Davis Family May Avoid Probate Through Strong Estate Plan

    || 29-Oct-2011

    One of the main goals behind estate planning is avoiding probate litigation and often even probate itself. This is true for New York residents as well as others living across the United States. However, there are often other issues that estate planning must also address. One such issue involves how the issue of estate taxes is handled within the probate scheme. The late owner of the Oakland ...
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  • As with most things in life, communication is said to be the key to good estate administration in New York and elsewhere. That starts with the individual who is planning how his or her estate will be distributed. Studies show that less than one third of all individuals have discussed their estate plan with their children. Most professionals involved in the estate administration process recommend ...
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  • Mega Estate Planning: Who Gets Jobs' Billions?

    || 14-Oct-2011

    So much of estate planning in New York and elsewhere is devoted to preparing for a future event which most of us are not all that ecstatic about occurring. Nevertheless, estate planning for wealthy people is a necessary and vital part of a well devised financial scheme. While we are inundated with advice and suggestions for preparation of wills and trusts on a constant basis, the October 5 death ...
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  • Misdeeds by a Fiduciary Alleged Upon Businessman's Death

    || 8-Oct-2011

    In 1936, a young German immigrant opened a restaurant in Ecuador. Decades later, his business had evolved into a chain of 76 supermarkets and shopping malls that was one of the nation's largest corporations and was valued at about $1 billion. Now, following his 2003 death, three of his children are involved in probate litigation over the legal rights to the successful business. The case is a ...
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  • Long Island Estate Planning Blog

    || 22-Sep-2011

    Hello and welcome to our new estate planning blog! Our goal is to provide Long Island residents with important information about estate planning and the probate process. Our team at the Law Offices of Steven M. Adler, PLLC has 25 years of legal experience, and Attorney Steven M. Adler personally handles every case. We understand what types of information you are looking for and our proud to make ...
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