Sadness, loneliness, and shock are just some of the intense emotions people feel when they lose a loved one. Many are at a loss when it comes to what their responsibilities in such an uncertain time. Here, we lay out a few steps to consider if you find yourself in this unenviable position. Burial  On […]

The law provides two different mechanisms to allow someone to direct your medical and financial affairs in the event of physical or mental incapacity.  The first is through the execution of estate planning documents referred to as advance directives and the second is by petitioning the court for the appointment of a Guardian for the […]

A reverse mortgage is often utilized by older Americans to supplement their income during retirement by accessing the equity in their home.  The proceeds of a reverse mortgage can be used for any financial obligations the senior may have, including routine maintenance of their home.  The reverse mortgage is a complex type of mortgage loan […]

When engaging in estate planning, one of your goals is likely to prevent or minimize fighting within your family after your death.  A qualified estate planning attorney can help you achieve this goal by drafting your Will and/or Trust in clear and simple terms and to make sure all the technical requirements of execution are […]

Trusts are a wonderful tool to help people accomplish their estate planning objectives. They can be used for tax planning, for long term care planning, for probate avoidance, and as a financial management device for your children and grandchildren.  To know what type of trust is best for you, it is important to have knowledge […]

Mortgages commonly contain something called a “due on sale clause.”  These are clauses that allow lenders to “call in” the loan and require that the borrower pay the entire balance of the loan when a borrower transfers title to the mortgaged property. This idea makes sense – when a homeowner sells their property, they are […]

Estate and gift tax consequences vary from estate to estate depending on the size and value of the estate and the place where the decedent died.  The concept of a step-up in basis is a federal one affecting beneficiaries nationwide, and a recent proposal from the Biden administration has threatened to eliminate it from the […]

A credit shelter trust is a mechanism utilized by married couples in order to take full advantage of their combined estate tax exemptions.  They are most useful for couples who reside in states where there is an additional estate or inheritance tax on top of the federal estate tax. It is commonly believed that credit […]

Blended families are incredibly common, and this term encompasses a vast array of family situations.  Very often, however, blended families involve a marriage in which one or both spouses have children from a prior relationship.  Sometimes the couple also has children in common, but this is not always the case.  Because families are all different […]

New York State has enacted an update to its Power of Attorney Law that will take effect on June 13, 2021.  New York’s Statutory Short Form Power of Attorney, last updated in 2010, was notorious for its complexity and difficulty to execute.  It often baffled clients who didn’t know where to sign or initial and […]