Runoff Elections in Georgia resulted in a Senate controlled by Democrats. Could this impact your Estate Planning? It’s possible. Read on to learn more. … [Read more...] about Biden Administration Could Reduce Estate Tax Exclusion
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Family Says Retired Zappos CEO Hsieh Died Intestate
We are sometimes reminded about the fragility of life when a high-profile person passes away before their time. This type of event rattled the public consciousness when Kobe Bryant, his daughter, and a number of others passed away suddenly in a tragic helicopter accident last year. Another one of these situations came to light shortly after Thanksgiving when the news broke about retired Zappos CEO Tony Hsieh. He was visiting a friend in Connecticut when a fire engulfed the home, and he passed … [Read more...] about Family Says Retired Zappos CEO Hsieh Died Intestate
Are Small Estates Subject to Probate?
Probate is the legal process of estate administration, and it takes place under the supervision of the Surrogate’s Court here in New York. Generally speaking, transfers of assets that are in your sole, direct personal possession at the time of your passing are subject to probate. Simplified Probate Procedure There is one exception to the rule when it comes to asset transfers that would ordinarily be subject to the full probate process. New York has a simplified procedure that can potentially … [Read more...] about Are Small Estates Subject to Probate?
Updating Your Plan: Beneficiary Designations
As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including beneficiary designations. Beneficiary designations may control a large part of your assets and it’s important to be sure your plan is coordinated to consider these. Read on to learn more. … [Read more...] about Updating Your Plan: Beneficiary Designations
Estate Planning Simplified
A survey that was conducted by Caring.com last year found that only 47.9 percent of people that are 55 years of age and older have estate plans in place. As you would expect, the preparedness percentage was lower among people that are in younger age groups. Even though so many people are unprepared, the vast majority of participants stated that they thought estate planning was important. One of the reasons they cited for the inaction was a feeling of being overwhelmed by the seemingly arcane … [Read more...] about Estate Planning Simplified
