An inheritance planning attorney provides help to those who wish to make a comprehensive plan for their loved ones to inherit, as well as providing representation to an executor of an estate and heirs or beneficiaries after a death. Understanding what happens after someone passes away -- and what role an executor of an estate must play -- is very important to all those who are involved in the estate planning process or who are coping with the loss of a loved one. The Law Office of Michael … [Read more...] about What Executors Need to Know About Managing Estate Assets
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Insurance You Need to Protect Your Assets
A Rochester area elder law lawyer provides insight into different steps that you can take to protect your assets. Depending upon your specific situation, one of the most important asset protection steps that you may need to take could involve the purchase of an insurance policy. Determining the type of insurance coverage you may need can be complicated, so you should reach out to a legal professional who can conduct an investigation of your specific situation and who can help you to make smart … [Read more...] about Insurance You Need to Protect Your Assets
Basis is Important in Estate Planning
When choosing the direction to take in estate planning, it’s important to consider the impact on income tax basis. This article examines the nature of basis and follows an example from acquisition of property to death and looks how basis is adjusted along the way. Since the property is included at death, the basis receives a step-up to the value of the property at death. Upcoming articles will examine how common estate planning strategies impact income tax basis. Basis is Important in Estate … [Read more...] about Basis is Important in Estate Planning
Estate Planning: The Simplest Plan is Usually Not the Best
Clients often want the simplest estate planning solution possible. However, the simplest solution is doing nothing. Usually, doing nothing does not result in the desired outcome. Estate Planning: The Simplest Plan is Usually Not the Best … [Read more...] about Estate Planning: The Simplest Plan is Usually Not the Best
Five Questions to Help You Determine if Your Assets are at Risk
A Pittsford living trust attorney can help you to determine if creating a trust is a good option to protect your wealth and your loved ones. Trust creation is a smart choice for many people at all income levels because a trust can allow you to protect your assets in important ways. However, there are different kinds of trusts that provide different kinds of protection so it is important to make smart choices about both whether you need a trust as well as what type of trust you should create. … [Read more...] about Five Questions to Help You Determine if Your Assets are at Risk
