Blog Posts in February, 2013

  • Estate Planning Provides Clarity for All Families

    || 26-Feb-2013

    There are many misconceptions about estate planning. For example, many New Yorkers may delay the process or avoid it altogether because they believe that their assets are minimal and estate planning would be just a waste of time. However, the reality is that estate planning is necessary for everyone, no matter the value of their assets. There are few basic ideas to remember when estate planning. ...
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  • Allocating Assets Just One Beneficial Function of a Will

    || 22-Feb-2013

    Most New Yorkers care about their families enough to want to protect them in the event of a financial emergency. The loss of a job or the death of a parent can cause not only emotional grief, but also financial havoc as well. There are many things parent and family members can do in terms of protecting children and others by drafting a will to cover many unexpected situations. Drafting a will in ...
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  • Including the Family Business in the Estate Planning Process

    || 12-Feb-2013

    For many New York business owners, their business is a huge part of their life. Many spend 60, 70, even 80 hours or more per week keeping their business afloat. In many cases, spouses, children and siblings help with the business. Therefore, it is important to have a plan in place should the main business owner become unable to operate the business anymore. This is where estate planning meets ...
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  • Escaping Death Taxes Through Trust Administration

    || 5-Feb-2013

    Many New York residents are familiar with the phrase, "Nothing is certain but death and taxes." However, the two do not necessarily have to occur together. Those with a large amount of wealth can reduce the amount of estate tax paid upon the death of their spouses through trust administration. One popular type of trust used is a credit shelter, or bypass trust. This can be set up after ...
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