Creating a comprehensive and properly drafted estate plan is one of the most valuable gifts you can give to yourself and to your loved ones over the course of your lifetime. When creating that plan, the advice and guidance of an experienced estate planning attorney will be crucial to the overall success of the plan once it is implemented. In the meantime, the estate planning attorneys at the Law Offices of Kobrick & Moccia offer the following five tips to help you create a successful estate … [Read more...]
How Are You Planning for Long-Term Care (LTC) Expenses?
What’s the right direction for you in planning for future medical expenses? The odds are even that you’ll need long-term care (LTC) after age 65, at least for a while. Here are possible paths for covering those potential costs.How Are You Planning for Long-Term Care (LTC) Expenses? … [Read more...]
Treasury Releases New Inflation Adjustment
The new tax law doubled the estate tax exclusion through 2025. This article looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion.Treasury Releases New Inflation Adjustment … [Read more...]
Income Tax Basis in Estate Planning – Part 2
When choosing the direction to take in estate planning, it’s important to consider the impact of the proposed estate plan on income tax basis. Basis is often overlooked when estate planning strategies are considered. This article examines how common estate planning strategies impact income tax basis.Income Tax Basis in Estate Planning – Part 2 … [Read more...]
Basis is Important in Estate Planning
When choosing the direction to take in estate planning, it’s important to consider the impact on income tax basis. This article examines the nature of basis and follows an example from acquisition of property to death and looks how basis is adjusted along the way. Since the property is included at death, the basis receives a step-up to the value of the property at death. Upcoming articles will examine how common estate planning strategies impact income tax basis.Basis is Important in Estate … [Read more...]
Hauppauge Probate Attorneys Discuss Common Mistakes to Avoid When Probating an Estate
Did you recently learn that you were appointed to be the Executor of the estate of a recently deceased loved one? Or did you decide to volunteer to be the Administrator for the estate of a recently departed loved one who died intestate, or without a Last Will and Testament. Either way, you have a very important job to do during a time when you are still grieving the loss of your loved one, thereby increasing the odds of making a mistake. The Hauppauge probate attorneys at Law Offices of Kobrick … [Read more...]
Probate Lawyers Stress the Need to Appoint the Right Executor
When you sit down to create your estate plan, you will have to make a number of important decisions. While many of those decisions will be directly related to the disposition of your estate assets after you are gone, one of the most important decisions will not be. That decision is your choice of Executor, appointed by you when you execute your Last Will and Testament. The probate lawyers at the Law Offices of Kobrick & Moccia stress the need to appoint the right Executor to ensure that the … [Read more...]
Hauppauge Estate Planning Attorneys Explain Federal Gift and Estate Taxes
Like most people, the primary goal of your estate plan is probably to protect and grow your estate assets and ensure that they are passed down to your loved ones after you are gone. To maximize the benefits of your estate plan, you must consider the impact that federal gift and estate taxes will have on your estate when creating your estate plan. Failing to do so could result in the loss of a significant portion of your assets before they can be passed down to your loved ones. To help you … [Read more...]
Estate Planning Attorneys Share 5 Reasons to Start Your Estate Plan Today
Have you not yet created your estate plan? If so, you are hardly alone. In fact, despite recognizing the importance of having an estate plan in place, over half of all Americans do not have one. In the hope of motivating you to get your estate plan started though, the estate planning attorneys at the Law Offices of Kobrick & Moccia share five reasons why you should start your estate plan today. You don’t want the State deciding what happens to your assets. One of the most basic reasons … [Read more...]
Estate Planning: The Simplest Plan is Usually Not the Best
Clients often want the simplest estate planning solution possible. However, the simplest solution is doing nothing. Usually, doing nothing does not result in the desired outcome.Estate Planning: The Simplest Plan is Usually Not the Best … [Read more...]
