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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.

Where in the World Do You Go to Retire If You Like The Snow?

Posted on: March 18, 2020 | By: David Parker, Esq.
Retirees who relish the pleasure of watching the seasons change, and love the special energy of winter, should consider these five affordable countries that feature colder winters and offer residency visas.
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New RMD rules

Should You Name a Trust as an IRA Beneficiary ?

Posted on: March 17, 2020 | By: David Parker, Esq.
For obvious reasons, including control, privacy, asset protection, etc., many clients are interested in putting assets into a trust. For many retirees, their IRA is among their biggest assets. It’s only natural to want to put the IRA into a trust.
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What Happened to Phil Spector

Estate Planning uses a “Dynamic Document”

Posted on: March 16, 2020 | By: David Parker, Esq.
Failing to ensure that your asset titling and beneficiary designations are coordinated with your estate plan, can lead to unintended costs, taxes and outcomes.
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What doesn't Medicare cover.

How Kirk Douglas’s Estate Shows the Value of Strategic Trust Planning

Posted on: March 11, 2020 | By: David Parker, Esq.
Old Hollywood didn’t pay stars well by modern standards, but Kirk had the wisdom to own his most iconic films and pour the profit into property. Soon philanthropy will force tough choices. The death of any giant produces shockwaves. Where Kirk Douglas is concerned, those ripples reveal how much the entertainment landscape changed in his lifetime and how much the numbers have grown.
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New RMD rules

What are the Penalty Free IRA Withdrawals ?

Posted on: March 10, 2020 | By: David Parker, Esq.
The contributions you make to your individual retirement account (IRA) are intended to supplement your income during your retirement years. However, as much as you'd like to let your IRAs remain untouched until retirement, unforeseen expenses may force you to withdraw some of those assets early.
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Should I Buy a Vacation Home When I Retire?

Posted on: March 4, 2020 | By: David Parker, Esq.
While many retirees have considered purchasing a vacation home to escape cold winters, to rent out for income, or simply have a gathering place for far-flung family members, there are a number of financial matters to consider that could make ownership onerous.
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Common Myths about Your Estate When You Die

Posted on: March 3, 2020 | By: David Parker, Esq.
Regardless of whether the law makes sense to us, we are all required to abide by it.
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Choose your fiduciary wisely.

Gray Divorce is Changing the Future for Many Senior Americans

Posted on: March 2, 2020 | By: David Parker, Esq.
Rising divorce rates among Americans over the age of 50 are causing more conflict in estate planning, new data shows.
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Be Aware of Probate

Posted on: February 28, 2020 | By: David Parker, Esq.
Whether you recently experienced the loss of a loved one or are learning how to best prepare and plan your own estate, you've likely come across the term and may be wondering, "What is probate?" It's important to understand what probate is and how the process works.
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Determining guardianship with a Yonkers elder lawyer

How Guardianship is Determined in New York

Posted on: February 27, 2020 | By: David Parker, Esq.
In New York, Article 81 guardianship is appointed when an individual is unable to manage personal or financial affairs due to incapacity. Courts require strong evidence before appointing a guardian. A Yonkers elder lawyer can guide families through the complex legal process.
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