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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.

Can a BDIT save you on taxes?

What Is a Beneficiary Defective Inheritor’s Trust?

Posted on: February 13, 2023 | By: David Parker, Esq.
A Beneficiary Defective Inheritor’s Trust, also known as a ‘BDIT,’ is a specific type of estate planning trust.
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What wrong with the Presley estate?

What’s a Bequest?

Posted on: February 9, 2023 | By: David Parker, Esq.
When a person uses a will to leave property to their family, friends or the causes they support, the act is known as a bequest. A bequest can be the cash, investments, jewelry or other items that a person passes to beneficiaries when they die.
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Can a BDIT save you on taxes?

Who Gets Graceland after Lisa Marie Presley‘s Death?

Posted on: February 8, 2023 | By: David Parker, Esq.
Lisa Marie Presley‘s surviving three children will reportedly inherit her Graceland estate.
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What Happened to Phil Spector

When Is Life Insurance Taxable to Beneficiaries?

Posted on: February 7, 2023 | By: David Parker, Esq.
When beneficiaries receive a payout from a life insurance policy, they typically don’t have to pay taxes. However, there are a few situations where a portion of the life insurance benefit is taxable to the beneficiary.
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Can your love ones be disinherited ?

How to Protect Loved Ones from Being Disinherited

Posted on: February 6, 2023 | By: David Parker, Esq.
If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.
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Can a BDIT save you on taxes?

Is Handwritten Instruction in Bible Valid to Update a Will?

Posted on: February 2, 2023 | By: David Parker, Esq.
A state appeals court has ruled that a handwritten instruction in a Bible that included only the first name of the writer was a valid codicil that changed a will.
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Can a BDIT save you on taxes?

What Should Not Be Kept in a Safe Deposit Box?

Posted on: January 31, 2023 | By: David Parker, Esq.
Locking away certain valuables and important documents in a bank vault could turn into a headache for you or your heirs.
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What about a second beneficiary ?

Why You Need a Second Beneficiary

Posted on: January 30, 2023 | By: David Parker, Esq.
Naming secondary beneficiaries can help estate planners avoid the delay and costs of going through probate, as well as ensure that your wishes are carried out.
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New City Estate Planning Law Firm

We are Moving our New City / Rockland Office!

Posted on: January 27, 2023 | By: David Parker, Esq.
Why did the law office cross the road? Because we found a new office. On January 28 through January 30, 2023,  the Parker Law Firm is moving our Rockland County office to 120 North Main Street, Suite 230, New City, New York 10956. (its the building next to the bowling alley) There is ample parking […]
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What doesn't Medicare cover.

Who Controls Actress Brittany Murphy ’s Estate?

Posted on: January 26, 2023 | By: David Parker, Esq.
Brittany Murphy’s brother has revealed new details about who’s been in control of the late actress’s multimillion-dollar estate — while continuing to claim that she was murdered.
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