New York, unlike most states, has an estate tax. That means large estates may end up being subject to state as well as federal estate tax. Like federal estate taxes, state estate taxes can be avoided or at least minimized with careful estate planning. New York has...
Finding an excellent in-home aide for an aging parent or loved one requires careful thought and planning. Since this person will be in the home and assisting with personal care, you must have someone who is not only competent and reliable but also a good fit. Improve...
A payable on death account is, in many ways, a normal bank account. The difference is simply that you can pick a beneficiary for that bank account. If you pass away, this beneficiary just has to present proof of your passing to the financial institution. They then...
Having worked hard to build your wealth, you know that taxes, divorce or litigation could eat away at your assets. While establishing an irrevocable trust can help you avoid unnecessary loss, circumstances may change over time, so your existing trust may no longer...
Most people hope to remain physically and mentally fit well into their golden years. They likely aspire to age in place by staying in their family homes. Unfortunately, those goals may not necessarily be realistic. Some people develop serious medical issues, ranging...
Buying a home isn’t as simple as seeing one you want and paying for it. Instead, the process involves various steps, such as securing a mortgage, making an offer and waiting for the seller to accept the offer. For most people, their real estate agent will help them as...
When landlords rent out properties in New York, they may encounter various challenges. For example, leases are an issue involving many nuances. Unfortunately, many landlords make mistakes that can lead to legal issues or financial losses. 1. Inadequate lease clauses...
When was the last time you made changes to your estate plan? If you have only ever made your estate plan and never updated it, then it may be due time for your estate plan to be changed. Estate planning is a lifelong process, it can help benefit you and the people...
As the cost of healthcare continues to rise, some state Medicaid offices are taking measures to recoup expenses, including targeting the assets of deceased individuals. One asset the agency sometimes takes such actions against is the family home. There are ways to...
If you are like most people, you have more than a few digital assets – even if you don’t realize it. For example, your Facebook account, cryptocurrency wallet and online casino account are all digital assets. While you may not have considered these as “assets” in the...