Everyone knows the statistics – almost 50% of marriages in the United States end in divorce. Second and third marriages fail at an even higher rate. Our clients are rightly concerned about passing down wealth to their children that may end up in the hands of an ex-husband or wife. Some clients’ initial thoughts are…
Mental illness refers to a wide range of conditions that affect an individual’s mood, thinking, and behavior. These conditions can affect a person’s ability to function in daily life and can vary in severity from mild to severe. It can be temporary, episodic and life-long. To ensure that your loved one suffering from a mental…
The COVID-19 pandemic has devastated families across the United States, leaving countless people grappling with loss, grief, and unanswered questions. If you’re one of the many people who have lost a loved one to COVID-19, you may be wondering if there is any recourse you can take against the nursing home where your loved one…
When the SECURE Act passed in 2019, the biggest impact on estate planning was the elimination of the “lifetime stretch” for most beneficiaries of individual retirement plans (IRAs). Before the SECURE Act, a beneficiary of an IRA had the option to take distributions over their own life expectancy. This allowed families to pass down tax…
We are honored to have been recognized as TBR News Media Readers’ Choice in the category of Attorney/Lawyer! This distinction is especially meaningful because it was chosen by our community. We appreciate your continued support! Click here to view the full list.
New York State has recently passed new legislation – NY Executive Law Section 135-c, bringing significant changes to the rules governing notarization. Perhaps the most significant change is the allowance of electronic notarization, something that has been long-awaited by many in the industry. Alongside this comes stricter regulations surrounding record-keeping for traditional, in-person notarization. How…
Thank you East End! đź’™ We’re beyond honored to have been selected as the Best Law Firm – South Fork in Dan’s Papers Best of the Best 2022 list for the third year in a row! This distinction is especially meaningful because it was decided by our East End community. We thank our clients and…
We use the phrase “estate plan” dozens of times every day. It is useful for us attorneys because it describes a group of documents. Unfortunately, estate planning sounds much fancier than it is. Sometimes an estate plan is a simple Will, advance directives, and a power of attorney. Sometimes people ask whether they even need…
An Irrevocable Life Insurance Trust (“ILIT”) is a valuable estate planning tool used to reduce estate taxes – known as death taxes during an election year. Whether you need an ILIT depends on how much your assets are worth now or what your potential net worth is in the future. Some benefits of an ILIT…
Whether an executor needs to hire an attorney depends on the type of assets, size of the estate, family dynamics, estate tax considerations, and outstanding bills. As a fiduciary, an executor can be held accountable for any gross negligence, waste or mismanagement of the estate. Â Therefore, not only does serving as executor requires a significant…
