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White Plains & New City, New York Estate Planning & Elder Law Firm

Estate Planning and Elder Law Blog

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Category: Estate Planning

Estate planning services refer to the process of managing and distributing one's assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.

Learn about what happens to a revocable trust in White Plains when one spouse dies

What Happens to a Revocable Trust When One Spouse Dies?

Posted on: October 25, 2024 | By: David Parker, Esq.
Revocable trusts ensure seamless asset management and distribution after death, providing flexibility for couples and individuals. Learn how a revocable trust operates when a spouse dies and the crucial role of successor trustees in estate planning.
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Single people will benefit from creating a trust with an estate planning attorney in white plains

Estate Planning for Single People: Why Trusts Are Better than Wills

Posted on: October 18, 2024 | By: David Parker, Esq.
Single individuals, especially those over 50, should prioritize estate planning to protect their assets and ensure healthcare decisions align with their wishes. Trusts offer greater privacy, flexibility, and protection than wills, helping avoid probate and family disputes.
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New City NY Elder Law

Medicaid Planning: Safeguarding Your Assets with Irrevocable Trusts

Posted on: August 23, 2024 | By: David Parker, Esq.
Explore the pros and cons of using irrevocable trusts for Medicaid planning—secure assets while navigating complex eligibility rules.
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Transfer on death deeds new law in new york

Transfer on Death Deeds Law Enacted in New York

Posted on: August 21, 2024 | By: David Parker, Esq.
Learn about the advantages and disadvantages of the new Transfer on Death (TOD) deeds law in New York and how careful estate planning is a better choice to protect property.
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A family packed for the beach learning about the importance of legal planning for summer vacation

Going on Vacation this Summer? Have These Legal Documents in Place First

Posted on: June 21, 2024 | By: David Parker, Esq.
It’s summer – a time when New Yorkers gear up for vacation and eagerly anticipate a break from the daily grind. However, amidst the excitement, it's crucial to consider an often-overlooked aspect of travel preparation: estate planning. Having the right legal documents in place ensures peace of mind while you're away.
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New York estate tax

Estate Planning Strategies in New York: Estate and Inheritance Tax

Posted on: April 26, 2024 | By: David Parker, Esq.
This article explains estate and inheritance tax and how estate planning strategies can help reduce taxes.
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Stethoscope and red heart left image Young adult on a blue phone right image depicting health care proxy for young adults.

Off to College or Traveling? Why Young Adults Need a Health Care Proxy or Advance Directives

Posted on: March 27, 2024 | By: David Parker, Esq.
Many young adult New Yorkers plan to travel in the U.S. or abroad during spring break and summer months. Most travelers do not pack a health care proxy or power of attorney (POA) to assign another person as a medical advocate if they are incapacitated. But they should. Healthcare proxies or medical POAs are a […]
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Why a Will is Not Enough to Avoid Probate in New York

Why a Will Alone is Not Enough to Avoid Probate in New York

Posted on: February 8, 2024 | By: David Parker, Esq.
Learn why a will alone cannot avoid probate, protect against incapacity, or shield your assets from creditors and legal issues.
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A couple learning about a New York a power of attorney

What Is a Power of Attorney, Why Do You Need One, and How Does it Work in New York?

Posted on: January 4, 2024 | By: David Parker, Esq.
Contrary to common belief, family members like your spouse or children do not inherently possess the authority to act on your behalf. A power of attorney is a legal document that empowers an individual to appoint an agent to act or make decisions on their behalf when unable to do so.
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Estate Planning in New York is for Any Stage of Life Starting at 18

Estate Planning in New York is for Any Stage of Life Starting at 18

Posted on: December 1, 2023 | By: David Parker, Esq.
Once you turn 18, estate planning is important for any stage of life from young adulthood to retirement and old age to protect you and your assets.
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