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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.

Your kids can help as co-trustee

Who Should I Name as a Co-Trustee?

Posted on: November 9, 2022 | By: David Parker, Esq.
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
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5 biggest mistakes for beneficiaries

What Happens When Inheritances are Unequal?

Posted on: November 8, 2022 | By: David Parker, Esq.
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
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Estate Planning for the sandwich generation

Sandwich Generation - Estate Planning for Different Ages and Stages of Life

Posted on: November 7, 2022 | By: David Parker, Esq.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
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Estate Planning in a nursing home?

What Estate Planning Can a Nursing Home Resident Do?

Posted on: November 4, 2022 | By: David Parker, Esq.
Research shows that most of these executors aren’t experts and struggle with the estate settlement process.
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Can a BDIT save you on taxes?

How Did Olivia Newton-John Plan Her Estate?

Posted on: November 2, 2022 | By: David Parker, Esq.
Olivia Newton-John would have celebrated her 74th birthday on September 26. The Cambridge-born star earned millions for her efforts in music and entertainment, and a staggering final act of charity saw Newton-John’s family splitting their inheritance with her charities.
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How to provide asset protection

SLAT - Are You Ready for 2026?

Posted on: October 31, 2022 | By: David Parker, Esq.
Because once 2026 arrives, many of the tax adjustments that were part of the 2017 Tax Cuts and Jobs Act (TCJA) are expected to expire.
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Can an annuity work in an estate plan?

Does My College Kid Need an Estate Plan?

Posted on: October 26, 2022 | By: David Parker, Esq.
As a kid reaches 18, they’re an adult in the eyes of the law. Therefore, your parental authority no longer exists and in turn you can lose access to information.
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Where is your Health Care Power of Attorney ?

How Important Is a Health Care Power of Attorney?

Posted on: October 25, 2022 | By: David Parker, Esq.
It is your right to keep your health information private, but is that always what is in your best interests?
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Whe a loved one passes away.

What Do I Need to Do When a Loved One Dies?

Posted on: October 24, 2022 | By: David Parker, Esq.
It’s easy to overlook an important task after a spouse or other loved one passes away – like retitling assets. It’s a little thing with big ramifications. Follow this checklist to help make a challenging time less confusing.
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New IRS portability rules

Estate Planning Considerations for Minor Children

Posted on: October 24, 2022 | By: David Parker, Esq.
When preparing estate planning documents, certain beneficiaries may need more protection than others. One particular class of beneficiaries that needs to be intentionally considered is minor children.
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