The recent $10 billion sale of the Los Angeles Lakers provides a powerful cautionary tale about Estate Planning, family conflict, and business succession. Despite a sophisticated Trust designed to keep ownership in the Buss family, structural flaws and sibling rivalries ultimately dismantled Jerry Buss’s legacy. This case illustrates why even well-drafted Estate Plans can fail when they ignore real-world dynamics. Learn the critical lessons every family business owner should consider before it’s …
10 Reasons to Create Your New York Estate Plan
Every adult stands to gain from having a well-structured estate plan, even though a significant portion of Americans still delay or avoid the process. In New York, as elsewhere, this hesitation often stems from a lack of understanding about what estate planning actually accomplishes. You may recognize that an estate plan matters in theory, but without clarity about its practical advantages, it is easy to postpone taking action. A comprehensive estate plan does far more than distribute property …
Funeral Planning Mistakes to Avoid in Your New York Estate Plan
Preparing for end-of-life arrangements is an essential, though often neglected, part of a well-designed estate plan. You may spend years carefully organizing how property will be distributed, who will manage your affairs, and how loved ones will be provided for financially, while giving little thought to what will happen immediately after your death. When funeral and memorial instructions are left unclear or undocumented, your family may be forced to make emotionally charged decisions under …
Estate Planning Following an Alzheimer’s Diagnosis
An Alzheimer’s diagnosis often reshapes how individuals and families envision the years ahead. What may begin as a clinical conversation quickly becomes a deeply personal reckoning with questions about autonomy, identity, finances, and long-term care. Many families describe the period following diagnosis as emotionally overwhelming, marked by uncertainty and concern about preserving dignity while preparing for inevitable change. The progressive nature of Alzheimer’s disease compounds these …
6 Common Steps to Including a Revocable Living Trust in Your New York Estate Plan
A revocable living trust is a popular and valuable estate planning tool that allows you to maintain control over your assets while you are alive and ensuring a smooth transfer of those assets to your designated beneficiaries upon your death. This type of trust also provides flexibility, as you can modify or revoke it at any time during your lifetime. For those considering the addition of one in their estate plan, the Long Island attorneys at Eghrari Law Firm explain six common steps to including …
How Can I Confirm Elder Abuse in New York?
If an aging parent, grandparent, or other vulnerable family member relies on a nursing home, assisted living facility, or in-home caretaker, concerns about safety and proper treatment are almost unavoidable. Those concerns become far more serious when you suspect mistreatment or neglect. Before you can protect your loved one and pursue accountability, you must be able to substantiate what is happening. With that in mind, the Eghrari Wealth Training Firm discusses how you can recognize, document, …
Is It Time to Review Your New York Trust Agreement?
Trust agreements are a cornerstone of many well-structured estate plans because of the flexibility and control they provide. A trust can manage assets during your lifetime, plan for incapacity, and direct distributions after death, all while offering privacy and administrative efficiency. Even a carefully drafted trust, though, is not a static document. Changes in your personal life, finances, or the law can gradually erode its effectiveness if it is not revisited from time to time. Regular …
How Does a Testamentary Trust Fit into My New York Estate Plan?
A Last Will and Testament often serves as the core of an estate plan, but many individuals find that relying on a Will alone does not provide the level of control or protection they desire. Trusts frequently supplement a traditional estate plan, and one option that offers substantial structure is the testamentary trust. This type of trust takes effect only after death and is established through provisions in a Will. It allows you to incorporate many of the benefits associated with trusts without …
Estate Planning for Seniors in New York
As individuals move into their “Golden” years, the priorities that shape a sound estate plan begin to shift. Income often comes from retirement accounts and government benefits instead of wages, medical needs become more pressing, and long-term care planning gains new urgency. If you are heading into your retirement years, failing to adapt your estate plan to meet these changes can weaken the protections you carefully built over time. With that reality in mind, the Eghrari Wealth Training Firm …
What Does It Mean to Decant a Trust in New York?
Trusts play a significant role in many estate plans because they allow individuals to manage and distribute property with structure and long-term oversight. When establishing a trust, one of the earliest decisions involves choosing between a revocable trust and an irrevocable trust. A revocable trust can be changed freely during the creator’s lifetime, while an irrevocable trust is designed to remain fixed once it is executed. This permanence offers meaningful planning advantages, but it can …
Legacy Planning in Your New York Estate Plan
Estate planning is often viewed through the lens of financial protection, asset distribution, and long-term security for loved ones. Yet a meaningful estate plan can provide far more than a method for transferring material wealth. It can also preserve the principles, ideals, and personal history that shaped your life. Legacy planning expands the traditional concept of estate planning by giving you the opportunity to pass down the values that guided your decisions and influenced the way you …
Essential End-of-Year Estate Planning Steps for New Yorkers
As the calendar year winds down, it is the ideal time to review your estate plan and ensure it reflects your current wishes and circumstances. When done properly, estate planning should be an ongoing process that safeguards your assets, protects your family, and ensures that your legacy is preserved. Taking a few deliberate steps before the start of a new year can bring peace of mind and help you begin January with your financial and personal affairs in order. Toward that end, the Eghrari Wealth …
See Larger Map
Get Directions