Once your estate plan moves beyond the basics, there is a good chance you will decide to incorporate a trust into your overall plan to help achieve one of your many estate planning goals. You may, however, decide you need to make changes to your trust agreement at some point down the road. The Hauppauge trust lawyers at the Law Offices of Kobrick & Moccia explain how you modify a trust in case you find yourself at that point. Understanding Your Trust At its most basic, a trust is a … [Read more...]
You Never Know: Planning for the Unexpected
This article examines the deaths of two people who died from doing very typical things. You never know what risks might be around the corner, even in seemingly safe endeavors, so you should be prepared. The article looks at the elements of a basic plan. You Never Know: Planning for the Unexpected … [Read more...]
Hauppauge Nursing Home Lawyers Explain Alternatives to Nursing Home Care
Whether you are a senior yourself, or the caregiver of one, the subject of nursing home care has undoubtedly come up at some point. Statistics tell us that the longer we live, the higher our chance is of needing some type of long-term care services. Understandably, no one wants to move to a nursing home facility. The good news is that given the dramatic growth in the elderly population in the U.S. in recent decades, the healthcare industry has essentially been forced to offer alternatives to … [Read more...]
Planning for the International Client
Estate planning for the international client can be tricky. This article looks at the estate tax treatment of U.S. citizens and non-resident aliens. The article then looks at an example of someone who lived in the U.S. and then departed. Planning for the International Client … [Read more...]
Planning for the Unexpected
This article examines the death of Charlotte Fox, one of the most famous mount climbers ever, who fell down her stairs at home. You never know what risks might be around the corner, so you should be prepared. The article looks at the elements of a basic plan. Planning for the Unexpected … [Read more...]
Dead Hand Control: How Much is Too Much?
This article examines trying to exert control over your beneficiaries after death. Often, clients try to dictate the exact manner in which funds are used. Usually, it is a better course to give the trustee discretion. Dead Hand Control: How Much is Too Much? … [Read more...]
Will Robots Care for the Elderly In the Not Too Distant Future?
If you are nearing retirement age, you have likely given a considerable amount of thought to the probability of needing someone to care for you as you get older. If so, you are certainly not alone in that concern. In the United States, we have a huge segment of the population that is likely to need caregivers in the near future. In fact, anyone entering the health care industry today is almost assured of job security in the future given the high demand for caregivers. What you may not know, … [Read more...]
Understanding How Social Security Works to Fund Your Retirement
Social Security retirement benefits are something that most Americans will be entitled to when they reach retirement age. For some, those benefits will represent their entire income once they reach their “Golden Years.” For others, Social Security benefits are just part of a complex retirement plan while still others are not counting on those benefits at all. No matter what role Social Security retirement benefits play in your overall retirement plan, you should have at least a basic … [Read more...]
6 Important Estate Planning Considerations – Part 6: Taxes
An estate plan considers many important aspects. One of the many aspects to consider is the impact of taxes. This article examines some of the many ways consideration of taxes might impact an estate plan. 6 Important Estate Planning Considerations – Part 6: Taxes … [Read more...]
6 Important Estate Planning Considerations – Part 5: Retirement Assets
Retirement assets may be a very large part of a person’s estate at death. It’s important to consider the income tax ramifications of naming a beneficiary, as well as protecting those assets for the beneficiaries. This article considers some of these issues. 6 Important Estate Planning Considerations – Part 5: Retirement Assets … [Read more...]
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