Nearly 2.5 million Americans died last year, many without signing a will. One of them was apparently Roman Blum, a Holocaust survivor and New York real estate developer who was worth almost $40 million when he passed away in January 2012 at the age of 97 … If, after three years, there’s still no sign of his doing any estate planning and no one comes forward to claim his assets, all that money will go to New York State, under a legal rule called escheat. Continue reading

Any partnership requires working together and, perhaps, compromise. But what if there is disagreement, especially when it comes to your estate planning? Continue reading

From social media to online bills, it is essential to plan what will happen to your virtual life once you are gone. Continue reading

The 3 L’s can quickly outdate any good estate plan. Changes in Laws, Changes in your Life with finances and family and Changes in Learning. Continue reading

Long ago, having a prenuptial agreement was considered stodgy or even insulting, but these days, “prenups” are becoming increasingly common for high net worth couples. Simply put, a prenup formalizes the understanding between spouses-to-be as to which of their assets will become marital property. Continue reading

“You bring a refreshing approach to a subject that is becoming increasingly important to more and more families.” Continue reading

We will cover how you and your family can plan to avoid the costs and expenses of Probate Court, save or reduce estate taxes, protect your assets from financial creditors and predators and Nursing Home liens! Continue reading

Privacy deserves to be respected and preserved. But HIPAA [the Health Insurance Portability and Accountability Act, 1997] protects the patient, not the institution or the provider. And the patient can informally agree to share her health care information with her family, with friends, with anyone she chooses. Continue reading

Ownership of life insurance policies has been declining over the last couple of decades, leaving 50 million Americans without adequate life insurance coverage and 40% of adult Americans having no life insurance at all. As a result, less than 25% of widows and widowers of spouses who died prematurely (age 30 to 55) felt their spouse had adequate life insurance. So how do you know whether you have enough? Continue reading

Surprise is only a good thing when it comes to birthdays and anniversaries. Continue reading

In the countdown to April 15, many people rushing to prepare their individual income tax returns will overlook another key tax document that’s due the same day: Form 709, covering taxable (or potentially taxable) gifts made during the previous year. Continue reading

If a family wants to hold on to artwork that has been collected over a lifetime, there can be a significant liquidity problem for the estate. Valuation discounts can help, but based on the recent Tax Court decision in the Estate of James Elkins, perhaps not as much as some might hope. Continue reading

Family businesses can be quite successful, he said, but the managing and intermingling of blood and commerce, insiders and outsiders, requires a deft hand, planning and enormous amounts of trust. Continue reading

If you are elderly, or your parents are elderly and you help them with their finances, you should consider getting a Power or Attorney (POA). A POA lets you name or appoint someone to handle important legal and financial issues for you, either now or in the future if you are unable to make decisions for yourself. Continue reading

I see just as many women seeking prenuptial agreements these days as men. I suggest a prenup for those who have sizeable wealth, own a business or are entering into a second marriage with significant personal assets. Continue reading

…A good way to start the exit planning process is to consider what combination of selling, transferring or gifting will best accomplish your goals. These strategies may not sound as sexy, but they get the job done. Continue reading

A staggering 1 in 3 seniors dies with Alzheimer’s disease or other types of dementia, says a new report that highlights the impact the mind-destroying disease is having on the rapidly aging population. Continue reading

Mediation—a way of settling disputes before they escalate into litigation—has grown increasingly popular in the trusts and estates field for two reasons. One, it is significantly less expensive for families than going to court, and two, an unprecedented intergenerational transfer of wealth is currently taking place because of baby boomers! Continue reading

It’s a standard part of estate planning. It’s also, according to experts on elder fraud, a license to steal. It’s the power of attorney, a legal instrument designed to give a trusted individual the authority to handle financial or health matters for the person creating it. Continue reading

The spousal exemption to the estate tax is denied to same-sex couples because of the Defense of Marriage Act (DOMA), a law passed by Congress and signed by the president in 1996 that defines marriage as between a man and a woman. Windsor is challenging DOMA in a case the nine-member high court will hear on March 27. At its core, Windsor's fight is with the Internal Revenue Service over how much federal tax she owes on [her same-sex partner’s] estate. Continue reading

Hey friends, This is a great free educational estate planning workshop that covers the nuts & bolts of an estate plan that works! Feel free to come or invite your parents. Just be sure to register in advance because seating is limited! Continue reading

If you are old enough to be reading this, you should discuss end-of-life issues with family members and prepare your own advanced directives. Right now. Continue reading

While love may have felt simple for the two 54-year-olds, the financial part of their relationship was less cut and dried. Continue reading

“Blended” families like the “Brady Bunch”— which include children from earlier unions have become the norm and without careful and proper estate planning disastrous consequences are almost certain! Continue reading

Do you think your current estate plan will avoid probate court? Continue reading