Most of us have an idea whom we’d choose to receive our assets at our death. But often we don’t contemplate what should happen if the people whom we’ve selected die before us. Read on to learn more about contingent beneficiaries. Whom Do You Want to Get Your Assets? … [Read more...] about Whom Do You Want to Get Your Assets?
The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...] about Kiddie Tax is Worse Than Ever
On their own, divorces and estate planning efforts are uncomfortable; when they’re combined, it takes on an entirely new meaning. Both of these events symbolize endings, after all. While estate planning helps prepare you and your family for the ultimate end, divorces were never supposed to be part of a family dynamic. No one marries with the goal of divorcing. Toss money and other assets into the mix, and well, it can quickly lead to the worst in human nature: pride, anger, grief. When Estate … [Read more...] about Estate Planning and Divorce
Ever wondered what per stirpes means? Maybe you’ve wondered the difference between per stirpes and per capita? With so many legal terms from Latin derivatives, it’s understandable that their definitions can get lost in translation. It also accounts for the number of people who will delay this important task. Here’s a look at a few of those terms, the purpose they serve and how New York determines their respective roles in estate planning. Per Stirpes or Per Capita? Let’s take a look at these … [Read more...] about Garden City NY Estate Planning: Per Stirpes, Per Capita & Other New York Legalities