Estate Planning for the Blended Family
Preparing a will and estate plan for a blended family can be complicated, and strain family relations. These days, many families include children, stepchildren, former spouses and in-laws. The number of remarriages has been steadily rising over the past few decades. By some accounts, in 2013, 40 percent of marriages included at least one spouse […]
Do You Need a Trust for Your Estate Plan?
The attached article provides a good explanation of trust planning.
NYS Estate Tax Changes: The Good News, and the Bad News
As of April 1st New York state doubled its estate tax exemption – the amount you can leave your heirs without paying state estate tax – and it is set to rise gradually through 2019 to eventually match the federal exemption, projected by then to be $5.9 million. That will make estate tax planning much easier […]
Gov. Cuomo Proposes Changes to NYS Estate Tax
New York is one of only fourteen states that tax estates. That means in addition to the federal estate tax, a New York estate could be paying another 9% – 16% to Albany – a fact that some believe is leading to a migration from New York to other states. Governor Andrew Cuomo’s new budget […]
Planning for the Disabled: Supplemental Needs Trusts
Wills, Trusts and Planning for those with Special Needs WHO NEEDS A WILL? Anyone who is married, has children, and does not want their estate administered by the pre-set laws of the state. If you do not have a will, your assets will pass as dictated by law, which may not necessarily be how you […]
Health Insurance and Your Children
Extending Health Insurance for Children in New York On June 29, 2009, Governor Paterson signed legislation which allows children to remain or obtain coverage under their parents’ health insurance through age 29. Eligibility for health insurance benefits under New York’s “Age 29” law requires that the child be unmarried, not insured or eligible for health […]
