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Estate Planning Attorney

When Does A Power Of Attorney Take Effect And How Long Does It Last?

The effective date by which a New York Power of Attorney takes effect will be a direct consequence of the type of document that is executed. A vast majority of clients sign what is known as a Durable Power of Attorney. A durable power of attorney takes effect immediately upon due and proper execution by Read on…

I Want To Switch Estate Planning Attorneys. What Do I Need To Know About The Process?

If you decide to switch estate planning attorneys, it is important that you know what your individual or family goals are. Some people seek an estate planning attorney to give advice and strategy to reduce possible estate and gift tax liability. This is one such purpose for switching to an experienced estate planning attorney. Another Read on…

Is Estate Planning Expensive?

As with most legal questions, the issue as to the expense of estate planning is not a simple one to answer. There are many components to estate planning and they are largely dependent upon the client’s needs and wishes, as well as the nature of their assets and how they are held. At the very Read on…

I’m In My 30’s and Married, What Type of Estate Planning Is Appropriate?

There are various estate planning strategies that are appropriate for a person in their 30s who is recently married. The most basic of estate planning strategies is to have you and your spouse execute a Last Will and Testament. These are fundamentally the most important estate planning documents that one can have because they set Read on…

How Much Cash Can Be Gifted to a Family Member Annually?

It is important to note that an individual can gift up to $14,000.00 annually to a family member, or to as many family members or friends as they wish without incurring any gift tax liability. This annual exclusion amount of $14,000.00 is valid for 2014, and can be $28,000.00 for a married couple should they Read on…

What Are Three Common Estate Planning Mistakes People Make?

There are certain estate planning mistakes people make that can cost one a significant amount of money. Here are three common mistakes to avoid: Mistake #1 The most common estate planning mistake to avoid is failing to plan at all on the event you pass away. When you die intestate (without a will), the state Read on…

Advantages of creating a revocable living trust with my Long Island estate planning attorney

Attention Long Island, NY: As you think about estate planning, have you ever considered some of the benefits of creating a revocable living trust? While revocable living trusts are by no means a substitute for a will and there are set up expenses, they do carry several advantages as an estate planning tool. First, a Read on…

Should I have an advanced care directive?

We never can be sure of the uncertainties that life presents. This can be especially true as it pertains to our health and well-being, more so when we reached an advanced age. It is for this reason that the need for a living will and health care proxy is so vital. This critical document sets Read on…