If you are planning ahead for your retirement years and the twilight years that will follow, it may be hard to imagine a time when you will need living assistance. This is understandable, but when you look at lifespans, if you are fortunate enough to live until you are 67, your life expectancy is at least 85 years. At that age, things can be considerably different than they were when you first started to receive Social Security benefits. In fact, the United States Census Bureau has done … [Read more...] about Alzheimer’s Can Have a Financial Impact
Blog
What Is the Purpose of Probate?
As estate planning attorneys, we often have interactions with the Surrogates’s Court, which is the court that handles probate matters in New York. Many people decide to implement probate avoidance strategies, and there are good reasons for doing so. We will get to them in this post, but along the way, we will explain some of the reasons why probate exists, and why it is necessary. Guardianship When you think about the concept of guardianship as it applies to estate planning, you are naturally … [Read more...] about What Is the Purpose of Probate?
Planning for the Sandwich Generation
The Sandwich Generation is torn between caretaking responsibilities for their minor children and their elderly parents. But first, they need to make sure they take care of themselves. Read on to learn more. Planning for the Sandwich Generation … [Read more...] about Planning for the Sandwich Generation
The SECURE Act Can Impact Your Estate Plan
Estate planning and retirement planning go hand-in-hand in a way, because one thing leads to another. Individual retirement accounts are part of this equation, and at the end of 2019, a piece of legislation was enacted that changed the rules governing these accounts in some significant ways. Before we look at the updates, we should provide some background information about individual retirement accounts in general. Individual Retirement Accounts There are essentially two different … [Read more...] about The SECURE Act Can Impact Your Estate Plan
Beneficiary Designations and Other Non-Probate Transfers
Many of us are surprised that our assets may not go to those named in our Will. However, if you have assets controlled by beneficiary designations or other non-probate transfers, that’s the case. Read on to learn how a Will might not control all your assets. Read on to learn more. … [Read more...] about Beneficiary Designations and Other Non-Probate Transfers
