Grantor Retained Annuity Trust (GRAT)
Estate planning techniques have funny sounding acronyms:  GRAT, GRUT, CRAT, CRUT.  Sounds like something you might get on your shoe!  Here's some information about one of these techniques called a Grantor Retained Annuity Trust (GRAT). A GRAT is frequently used to transfer assets to family members while minimizing taxes.  It... »
The Right to Donate Organs
When Rohn Neugebauer, an otherwise-healthy 48-year-old man, died suddenly of a heart attack on March 16, his family knew he wanted to donate his tissue and organs to someone in need. Just a few months earlier, he had co-hosted a fundraiser for a local organ donation organization, the Center... »
Celebrity Death Match
Just because they're rich and famous doesn't mean they set it up in a way to pass it on to the next generation. Take Philip Seymour Hoffman. It is always especially tragic when anyone dies leaving young children. His tragic death also emphasizes the importance of continuing to examine... »
Planning for Digital Assets--Does Anybody Know Your Passwords?
On any given day, you likely log on to more than a dozen internet sites, each of which require a username and password that only you know.  When you are incapacitated or die, all that password protection safety can create practical difficulties.  It is likely your estate will include... »
Don't Let the High Estate Tax Exemption Fool You. Planning is Still Vital!
With the federal estate tax exemption at a historical high of $5.34 million per person and counting, it is easy to be lulled into a false sense that estate planning is not necessary. From a non-tax perspective, it remains crucial because: Planning ensures that your assets pass to your intended... »
Possible Changes to New York State Estate and Gift Tax
Pending Changes to Estate Tax Law - February 2014 Governor Cuomo's recently released budget bill proposes important changes to the New York estate tax and the New York income taxation of certain trusts. Proposed changes require high net worth individuals and trustees of certain trusts to consider taking action between now... »
What's Your Number?
No, not that number.   You know the questions, how much money would you need in the bank to stop working?  Or, for the rest of us mortals, how much money will you need to retire? It is surprising how few people save or place any importance on savings.  True, it... »
A Love Letter for Valentine's Day
Some say that doing a Last Will and Testament, Health Care Proxy, and Power of Attorney is like writing a love letter. Corny, I know, but actually true. Being organized as well as being prepared for a crisis helps ease the burden on your loved ones. Imagine being in... »
Creating a Family Legacy
It is said that wealth cannot last for more than three generations. That is because it introduces a complicated family dynamic, and inherited wealth can diminish the motivation, ambition, and drive of later generations. What is important is not only the desire to pass wealth on to future generations but to... »
Three Must-Have Documents for 2014
Although we all expect the best in 2014, it is always good to prepare for the worst. Leaving loose ends when it comes to your estate can lead to family fights and expensive legal bills. Spare your family by being prepared. There are three documents that are absolute musts:  A will A... »
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