Recently this blog covered what to expect during probate. As mentioned, probate can seem overwhelming, and you may not want to go through the time, expense and publicity associated with the probate process. Fortunately, there are some ways a person in New York can...
Your Family's Goals Are
Year: 2022
For love, now is the time to estate plan
Even though the last two years have seen an unprecedented interest in estate planning, according to Gallup, less than 46% of United States residents even have a will, let alone a full estate plan. And, this is an issue that follows us into our golden years as just...
What to expect during probate
Probate can feel like an overwhelming process, in part because it gets a lot of negative attention. There seems to be no end to articles about ways to avoid probate, but it can leave you wondering if probate is as bad as it seems. Unfortunately, probate always follows...
What does an executor do?
As part of the will drafting process, New York residents must appoint an executor. An executor is a person who will administer your estate after you pass away. It is important to choose an executor who you believe is best suited to carry out your wishes in the event...
Many New Yorkers will have estate tax liability
The federal government’s tax on the value of a person’s estate only applies to a handful of families. In 2022, the law assesses no taxes on an individual taxable estate of less than $12,000,000. Only a small minority of families will have to pay estate taxes to the...
Avoid these mistakes when applying for Medicaid
Many older adults in New York require high quality long-term medical care but cannot afford the costs associated with this type of care. The government provides healthcare to eligible aging adults (65+) through the Medicaid program. However, many people make mistakes...
Does BBB mean I need to revisit my estate plan taxes?
Every year and with every new administration, both state and federal law makers talk about changing the tax code. The most recent federal change was in 2017, but the most recent proposed change, at least on the federal level, is the Build Back Better Act. If passed,...