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...]
Protecting Elderly Loved Ones from Financial Scams – One Grandma’s Story
As the population of older Americans continues to grow at a historic rate, incidences of abuse of the elderly grow as well. Financial exploitation of the elderly, in particular, is occurring at an astounding rate. Making it more difficult to catch those who prey on the elderly is that fact that victims are often too embarrassed to come forward and admit that they were scammed. Fortunately, one brave New York grandmother did come forward to tell how she fell victim to a financial scam. Her … [Read more...]
Is Formal Probate Required in New York?
If you recently lost a family member or loved one, you are undoubtedly going through a tremendously emotional time period. If you are also in charge of administering the decedent’s estate, either because you were appointed in a Will or because you volunteered, you also have an important job ahead of you. One of your first responsibilities as part of that job is to determine if the estate must go through formal probate or if an alternative for small estates is available. The probate lawyers at … [Read more...]
Hauppauge Trust Lawyers Explain the Probate Avoidance Benefits of Using a Trust
There is much more to estate planning than simply deciding who will receive your estate assets when you are gone. Although the primary goal of your estate plan may be to provide for loved ones in your absence, there are typically a number of additional inter-related goals that must be incorporated into an estate plan. Probate avoidance is one of the most common of those additional goals. With that in mind, the Hauppauge trust lawyers at the Law Offices of Kobrick & Moccia explain the … [Read more...]
6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article shows how a revocable trust can provide a more flexible way to achieve a client’s goals. 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...]
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article looks at a couple with three very different children and how they might leave the assets for them in three very different ways. 6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...]
Harrison Estate Planning Attorneys Offer Ways to Avoid Probate
When you sit down to create your estate plan, the primary focus of your plan will likely be the disposition of your estate assets at the time of your death to ensure that they are available to help provide for your loved ones in your absence. Your plan, however, may also include additional components aimed at achieving a wide variety of additional, inter-related, estate planning goals. Probate avoidance is a very common one of those goals. To help you understand probate and the desire to avoid … [Read more...]
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