Preserve Your Legacy

Estate Planning | Elder Law | Special Needs Planning

Blog Posts in January, 2014

  • SHOULD I CREATE A JOINT TENANCY WITH MY CHILD?

    There are many different ways to arrange for the transfer of property to your children. The optimal course of action will vary depending on your objectives and the unique nature of your circumstances. Joint tenancy is one option. A joint tenant is a co-owner of property. You could potentially add your child to your home deed or the title of some other type of property. He or she would become a ...
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  • CAN YOU CHALLENGE A TRUST?

    Most people have heard about last will challenges, but can you challenge a trust? If you look for the answer to this question on the Internet you may get some confusing answers. Popular Misconception Before we talk about trusts, let’s talk about last wills first. A will must be admitted to probate before the heirs to the estate receive their inheritances. It is up to the probate court to examine ...
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  • ASSET PROTECTION: IS A TRUST THE SOLUTION?

    You may get the impression that a trust of any kind will provide asset protection . The idea is that you are divesting yourself of personal ownership of property that you convey into a trust. This is not entirely true. Let’s look at some of the details. Revocable Living Trusts Revocable living trusts are very popular, and part of the appeal lies in the fact that you can retain control of assets ...
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  • WHAT DOES AN ELDER LAW ATTORNEY IN KEW GARDENS NY FOCUS ON?

    Many estate planning attorneys also focus on elder law issues. When you hear the term “elder law” you may wonder exactly where the focus lies. In a general sense, elder law attorneys assist people who are concerned about legal issues that are of interest to senior citizens. Some elder law attorneys focus on legislation that impacts seniors. They may advocate certain positions. Most elder law ...
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  • WHAT IS AN EXECUTOR OF A WILL IN KEW GARDENS NEW YORK?

    If you use a last will to arrange for the distribution of your assets after you die, who is actually going to put the plan into action? Is the document going to act on its own? Clearly, there is a human element to take into consideration. When you are drawing up your last will you must include the nomination of an executor. This is the person who will be charged with the responsibility of ...
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  • PROBATE IN KEW GARDENS NY: IS PROBATE A LENGTHY PROCESS?

    When you evaluate the surveys that are done periodically, you find that far too many people procrastinate when it comes to estate planning. One of the reasons for this is a lack of information. Invariably, once you understand the facts you recognize why estate planning is important. With this in mind, let’s look at the process of probate in Kew Gardens NY. A Last Will Someone who is ...
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  • HOW DO YOU FIND AN ELDER LAW ATTORNEY IN KEW GARDENS NY?

    At some point in time you may get serious about preparing for the eventualities of aging. There are certain contingencies that you may face when you reach an advanced age, and they are easier to address if you made preparations beforehand. The best way to make these preparations is with the assistance of a licensed elder law attorney. Elder Law Attorneys What does an elder law attorney do? ...
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  • WHAT QUESTIONS SHOULD I ASK AN ELDER LAW ATTORNEY IN KEW GARDENS?

    When you are preparing for your senior years, you are invariably going to envision your active retirement years. This type of planning is important. However, you should also consider the twilight years that will follow your active retirement years. The eventualities are something that you should discuss with an elder law attorney in Kew Gardens New York. Questions to Ask an Elder Law Attorney in ...
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  • WHAT IS THE ANNUAL GIFT TAX EXCLUSION?

    High net worth families must be aware of the existence of the federal gift tax. Actually, everyone is potentially exposed to the gift tax. The reason why most people don’t pay this tax is because there are exclusions. One of these exclusions is the annual gift tax exclusion. $14,000 Per Person, Per Year Under currently existing laws, you can give as much as $14,000 per year to any number of gift ...
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  • ARE TRUSTS ONLY FOR THE RICH?

    The process of estate planning should involve a significant amount of research. You don’t want to limit yourself and make less than ideal decisions based on a lack of information. There are misconceptions out there, and you can make mistakes if you buy into them. One of them is the notion that trusts are only for the rich. Different Types of Trusts There are certain types of trusts that are used ...
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  • ATTEND FREE ESTATE PLANNING WORKSHOP

    If you want to plan your estate as you simultaneously brace yourself for the eventualities of aging, you have a lot to think about. The typical layperson is not going to understand exactly what to expect. We make an effort to provide relevant information through our ongoing series of free estate planning workshops. We are pleased to announce our January Wills, Trusts and Nursing Home Asset ...
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  • MEDICAID FOR THE MIDDLE CLASS

    You may be under the impression that Medicaid is not relevant to you because you are a middle-class individual without a great deal of financial need. It is true that Medicaid is a need-based health insurance program that is jointly administered by the federal government along with each respective state government. Medicaid is a safety net for those with virtually no financial resources. This ...
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  • Forgot to Update Your Estate Plan? Your Estranged Sister May Get Your Assets!

    f you fail to update your estate plan , your assets may be given to the wrong people. Updating is something that many people forget to do. Making updates can often be an easy process, with the help of an attorney. If you want to control your assets, take a look at the following information. If you have any questions, or if you’d like to review and update your estate plan, contact an estate ...
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