Putting a house in a trust offers several advantages. As one of the most valuable assets in your estate, it is essential to know about any potential tax and creditor protections you are eligible to receive if you put your house in a trust. If you own a home in New York, it is important […]
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Faced with the responsibilities of being an executor for an estate, you may wonder whether you, as an executor, can withdraw cash from an estate account. One of the many responsibilities of an executor is to manage an estate’s financial affairs. This includes paying the estate’s debts and taxes. An executor will also be in […]
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An estate sale is the sale, liquidation, or auction of a person’s personal possessions after their death. Estate sales are commonly held in the deceased person’s home, and family members may be present. It can feel a little awkward entering a person’s home and buying their belongings, so it’s helpful to understand what an estate […]
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Your pet is part of your family, and their care should be addressed as part of your comprehensive estate plan. A pet trust is a legally enforceable arrangement that provides for the care of your pets in the event of your death or disability. When you establish a pet trust, you fund your trust and […]
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Deciding whether to share your estate plan can be challenging. If everyone knows your plans, you can answer questions and potentially minimize conflict between family members after your death. However, many people are uncomfortable sharing their estate plans because they don’t want to share their private financial and personal information. Estate planning can be complex […]
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Ideally, everyone should have a last will and testament that is properly prepared and stored in a fireproof safe or a secure online vault. Of course, it is also a good idea to ensure that at least a few people are aware of the location and have access to the will. After you’ve chosen an […]
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Storing estate planning documents can be challenging. The location needs to be safe from natural disasters and secure. On the other hand, if the documents are too far out of sight, they will be out of mind, meaning they won’t be updated after marriages, divorces, deaths, and births. Blockchain provides a safe and secure way […]
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Blockchain is, at its core, a distributed and immutable digital ledger. Because it records transactions across multiple computers, it ensures security, data integrity, and transparency. Blockchain does not rely on trust. While each individual holding cryptocurrency is anonymous, blockchain records are public and not issued by any centralized authority. Each transaction or contract must pass […]
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Lisa and Ken (both age 65) have three children and seven grandchildren. The couple has a last will and testament, but as they age and have grandchildren, they plan to meet with their estate attorney to update their estate documents and discuss how to best allocate and distribute their assets to their children and grandchildren. […]
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Mark, a single parent of two daughters aged 9 and 11, has an estate valued at $17 million and plans to purchase a life insurance policy with a $5 million death benefit. Mark’s estate is currently valued at $22 million, which is over the federal estate tax exemption maximum and, therefore, would incur estate taxes. […]
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