New York City Office655 Third Avenue, 20th Floor
New York, New York 10017
(212) 490-2020 Phone
(212) 490-2990 Fax
Westchester Office399 Knollwood Road
White Plains, New York 10603
(914) 684-2100 Phone
(914) 684-9865 Fax
Dutchess Office300 Westage Business Center
Drive, Suite 400
Fishkill, NY 12524
(845) 896-1106 Phone
(845) 896-1107 Fax
Reverse mortgages are available to homeowners at least 62 years of age or older. A reverse mortgage is one of several options available to older homeowners that allows them to take advantage of any equity that has accrued in their homes. In a reverse mortgage, the homeowner receives income from the home’s equity tax free [...]
Continue reading...Unmarried couples do not enjoy the inheritance rights of married couples. Because of this, estate planning is especially important to unmarried couples so that they can be sure their wishes will be legally carried out. Unmarried couples that have been together for many years, or even decades, may give little thought to inheritance issues. However, [...]
Continue reading...While a Living Trust is a valuable estate planning tool that can protect beneficiaries from the hassle and expense of probate, it does not automatically protect assets from estate taxes or creditors. Currently, the Federal estate tax exemption is set at $3.5 million, meaning that only assets above that amount will be subject to Federal [...]
Continue reading...One common mistake in estate planning is not getting around to writing a Will at all. Many people sincerely intend to create a will, but most do not actually follow through with their intentions. Excuses for not drafting a will usually involve waiting for a certain event, such as the purchase of a house, the [...]
Continue reading...An estate plan should be reviewed regularly to make sure it still conforms to your wishes and current economic conditions. During a turbulent economy, such as the one we are experiencing now, it is particularly important to review your investment strategy. The direction you take your retirement saving plan will depend on your risk tolerance [...]
Continue reading...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 [...]
Continue reading...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 [...]
Continue reading...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 [...]
Continue reading...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. [...]
Continue reading...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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