Archive for April, 2009
There are many cases in which granting financial power of attorney to a trusted individual, known in New York as an attorney-in-fact, is helpful. If you become injured or ill or are for any reason unable to handle your finances, your attorney-in-fact has the power to act on your behalf. This individual can, for example [...]
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A Revocable Living Trust is an important estate planning tool that allows individuals to transfer assets into a trust during their lifetime. These assets are then transferred directly to beneficiaries without going through probate, the court supervised distribution of assets according to the terms of your Will.
Understandably, the Revocable Living Trust is an attractive option. [...]
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The complexity of an estate plan will depend on each individual’s goals and circumstances. Some people will need to establish Trusts; others to plan for the long term care of loved ones with special needs, and still others to prepare for the transfer of business assets. Some people will need to do all three and [...]
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One of the most effective ways to prepare for the future of your child with special needs is to establish a Special Needs Trust tailored to the individual needs of your loved. Special Needs Trusts, also known as Supplemental Needs Trusts, are usually set up as inter vivos trusts for the benefit of one child. [...]
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Estate planning is often thought about only in terms of numbers, property, assets and finances. While estate planning does involve all of these things, the primary focus of a good estate plan is how people will benefit from it through your efforts and legacy. Estate planning is about maximizing the benefits of your work while [...]
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