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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.

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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Co-op and transferring to the kids

How Does My Co-op Fit into My Estate Planning?

Posted on: January 25, 2023 | By: David Parker, Esq.
In most cases, a co-op board has enormous latitude to approve or deny the transfer of a unit’s shares and proprietary lease.
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Joint Ownership on Accounts

What Happens When Property has Joint Ownership and an Owner Dies?

Posted on: January 24, 2023 | By: David Parker, Esq.
Various types of property, such as bank accounts and real estate, can be owned jointly with another person(s).
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Calculating Required Minimum Distribution

Some Expenses are Paid by Estate and Some by Beneficiary

Posted on: January 23, 2023 | By: David Parker, Esq.
If you’re set to inherit, you may be wondering what estate expenses are paid by the beneficiary. The answer can depend on what assets are passed on to you when a family member or loved one passes away.
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Adding Beneficiary Designations

Beneficiary Designation Mistakes to Avoid

Posted on: January 16, 2023 | By: David Parker, Esq.
Before making a decision on a beneficiary, it's very important to check your state laws. Some states have different rules on who you can name as a beneficiary.
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What wrong with the Presley estate?

What’s an Annuity ?

Posted on: January 11, 2023 | By: David Parker, Esq.
A joint and survivor annuity provides lifetime income payments for an annuity owner and their survivor. You contribute a lump sum of money to the joint and survivor annuity and can usually start receiving income almost immediately.
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Equal Inheritance

Should Each Child Get Equal Inheritance?

Posted on: January 9, 2023 | By: David Parker, Esq.
Equally sharing the wealth among the children isn’t always fair, such as when one sibling is the primary caretaker, or another is already wealthy.
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Eddie Van Halen left money to a foundation

Why Would I Need a Post-Nup?

Posted on: December 21, 2022 | By: David Parker, Esq.
While couples might sign a prenuptial agreement before they’re married and a “post-nup” after, it’s more than just the timing that differentiates these arrangements, experts say.
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