FREE CONSULTATION 718-233-2903 718-233-2903
Home / Blog / Estate Planning

Category Archives: Estate Planning

Read more on the complicated issues related to estate planning that Alatsas Law Firm believes are pertinent to anyone considering or already planning their finance’s future

Estate Planning With No Heirs

You have never been married. You are an only child and have no children of your own. Your parents are long gone and you have no other relatives. So, what happens to your estate when you die? Since you have no heirs, can you just skip the whole estate planning process entirely? Not exactly. If […]

What Happens When You Die Without a Will?

Aretha Franklin’s death was a shock to fans who enjoyed the Queen of Soul’s powerful music. What may be even more shocking was that she left behind a massive estate without a will. She reportedly was worth $80 million and had no will. Unfortunately, dying without a will is not an uncommon situation. Many people—even […]

Estate Planning Strategies for Expensive Hobbies and Collections

When many people think of their assets, they tend to include cars, homes, and money. Many people overlook collections of art, toys, sports cards, and furniture. These collections may seem like trivial hobbies to most people, but many collections have significant value attached to them. It is not uncommon for antiques and artwork to be […]

How to Protect Inheritances for Future Generations

You’ve worked hard to acquire your assets, and now that you’re getting older, you’re considering an estate plan. You want to pass down an inheritance to children and grandchildren, and while that’s a noble act, it’s easier said than done. Many people leave inheritances to family members, but rarely do they last. Inherited wealth may […]

The Many Effects of the Proposed Tax Plan

President Donald Trump has recently proposed a tax plan that will affect virtually all Americans in some way. From estate planning to retirement to tax deductions to cutting important programs such as Medicare,. The plan has been deemed unjust by many, but no matter what Americans think of it, it may soon become the law […]

How Do I Avoid Estate Taxes?

There are a few ways you can avoid paying estate taxes. Strategies include liquidating your assets, using trusts, and giving your loved ones tax-free cash gifts. For most individuals, a group of strategies are necessary to reduce or even eliminate one’s estate tax obligation during the estate planning process. How Do I Avoid Inheritance Tax? […]

Things to Consider When Approaching Retirement & Estate Planning

Transitioning into retirement can be a daunting process. Planning for this chapter in life can be even more intimidating. In both situations, it is important to take an honest look at your financial picture and change areas that need adjustment – if possible.  If you or someone you know is nearing retirement age and needs […]

Do the Beneficiaries on a Bank Account Supersede a Will?

The quickest way to undo an otherwise carefully-thought-out estate plan is the use of a bank, brokerage or retirement account. The reason for this is because the beneficiary designations on these accounts generally override a will. So, in theory, a wonderfully planned will can come undone due to carelessly named beneficiaries. If you or someone […]

New York Estate Law: 7 Planning Essentials

While not the most popular topic at cocktail parties, estate planning is important to everyone. No matter what stage of life – single, married or divorced (with or without kids) – estate distribution upon death will occur whether you are prepared for it or not. Therefore, it’s important to have an action plan to organize […]

10 Things to Consider When Drawing Up a Legal Will & Trust

Although none of us will be able to escape it, no one wants to think about it. If someone depends on you for financial support, a legal will and trust is essential in helping to protect your loved ones. Not only does estate planning help avoid – or at least minimize – family disputes once […]