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Posts in Estate Planning.
March 16, 2015

A key facet of the 21st century estate planning that many people overlook is a digital estate plan. With our lives becoming more engrained in technology each day, it is important to protect these assets too!

January 12, 2015

As 2014 comes to an end, it is a good time to assess your estate plan. For many, estate planning is something they realize they should do, but they keep postponing. With the dawn of a new year, it is time to consider management and protection of assets during lifetime and controlling distribution following death so you may leave a legacy for your loved ones.

By Natalie Cappellazzo on June 13, 2014

The confusion surrounding the status of unspent IRAs that parents leave to their children has finally been cleared up, following a unanimous Supreme Court decision.  The Court ruled this week that inherited Individual Retirement Accounts (IRAs) are not shielded from creditors throughout bankruptcy proceedings.  Typically, bankruptcy law protects retirement assets from being eaten up by creditors after filing, but inherited IRAs differ because the money can be accessed before the new owner actually retires.

April 12, 2014

The 2014 National Healthcare Decisions Day is Wednesday, April 16, 2014. Over 100 million American adults have not designated an agent to make medical decisions nor documented the type of medical care they desire. Although it is a difficult issue to address, it is important for all adults to consider who is best-suited to make medical decisions for them the event they become too ill to convey their wishes personally.

April 3, 2014

On March 29, 2014, Gov. Andrew M. Cuomo and legislative leaders announced an agreement on New York State’s 2014-2015 budget which included several tax law changes.

March 22, 2014

Forbes has dubbed New York one of the worst places to die in 2014. The reason for the moniker is the estate tax which is a tax on your right to transfer property at your death. New York, along with only thirteen other states, still levies the tax. The state estate tax is in addition to the federal estate tax. 

December 13, 2013

As 2013 comes to a close, have you made your New Year’s resolution yet? For many of us, estate planning is something we realize we should do, but somehow manage to keep postponing. With this in mind, you consider what estate planning is really all about. In essence, estate planning is about managing and protecting your assets during your lifetime and controlling distribution following your death so you may leave a legacy for your loved ones.

September 6, 2013

On June 26, 2013, the U.S. Supreme Court decided United States v. Windsor, a case involving a same sex couple married in New York, where such marriages are authorized.  One of the women died leaving a substantial estate.  An estate tax return was filed and the surviving spouse, because of the Defense Of Marriage Act (DOMA), was not entitled to the unlimited spousal deduction that heterosexual couples could take advantage of generally reducing the estate tax on the first death to zero.  The spouse filed the return, the IRS disallowed the spousal deduction, and the surviving spouse sued for a refund of taxes paid.

May 1, 2013

“Everybody has a Will. But, perhaps you don’t know what yours says?”

In New York State, everybody has a plan to distribute assets after death. Without a written Will Last Will and Testament, your assets will pass-on by what is commonly referred to as “intestate distribution” or “intestacy.”

April 15, 2013

April 16, 2013 is “National Healthcare Decisions Day.” It is a day set aside to educate the public about the importance of health care planning. This is to encourage people to express their personal wishes regarding healthcare, in writing, before a health care crisis occurs.

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