Long Island living trust attorneys can help you to determine how to protect assets. You'll need to make smart choices to ensure that your wealth is safe during your life as well as after your death. This means considering all possible sources of loss. One big concern for many people who are making an estate plan is the financial mismanagement of someone who they want to give money to. If you have a child or other loved one who is bad with money, you may still want to give them a financial …
How Estate Taxes Could Be Affected By Tax Reform
Long Island estate planning lawyers provide assistance to individuals and families who could be affected by state or federal estate taxes. Many people with larger estates worry about the impact of estate tax on their estate and want to find ways to avoid being subject to substantial taxes after death. A variety of tax planning tools are often used to try to reduce or avoid estate tax, including inter vivos giving, trust creation, and creation of a family limited partnership. Soon, however, …
What Happens if it is Too Late for a Power of Attorney?
Long Island elder law lawyers provide assistance with the creation of a power of attorney so you can control who is in charge of your assets in case of incapacity. When you create a power of attorney, you name an agent or an attorney in fact. This agent has a fiduciary duty to act on your behalf. Ideally, the person will be someone you can trust to manage assets and make decisions. When you name your agent in advance, you can talk with that person about your preferences so you can feel fairly …
Organization Founded in Long Island Aims to Beautify Senior Citizens
A Long Island elder law attorney provides assistance to seniors during their golden years. Seniors may face high costs of healthcare services and costly nursing home bills as they grow older. An attorney at Eghrari Law Firm can help seniors find ways to cover the costs of this type of care. An experienced attorney can also provide advice to seniors on taking advantage of programs and services that can help them to stay healthy and that can help to enhance their quality of life. Recently, USA …
4 Reasons to Create a Living Trust
A living trust, or a revocable trust, is a powerful tool that you can use as part of you estate plan. While a revocable trust has some limitations, which you need to understand, it also accomplishes certain important goals that you may have for protecting assets and providing for your family. Determining if you should create a trust, and understanding what type of trust you should create, can be complicated. Eghrari Law Firm can provide assistance with the trust creation process. Our legal …
Do You Need a Qualified Domestic Trust
A qualified domestic trust could be a very important estate planning tool under certain circumstances. This type of trust is not necessary for everyone, but is necessary for individuals with certain financial and marital situations. If you need this type of trust and you do not create one, the absence of the trust could have a profound impact on the inheritance that you leave behind to a spouse after you pass away. Eghrari Law Firm can provide you with assistance in understanding if you need …
4 Signs You Need to Talk to a Long Island Trust Lawyer
A Long Island trust lawyer can provide you with help using powerful legal tools to protect your family and wealth. Trusts are a versatile tool that you can use to accomplish many goals related to asset protection, incapacity planning, legacy planning, and more. There are different types of trusts and strict rules for trust creation, so you should make sure you have the information you need to make fully informed choices about creating a trust. Eghrari Law Firm can help. Our legal team can …
What Is an Estate Plan?
An estate plan is a plan that you should work with an experienced attorney to create. A simple estate plan will address what happens to your wealth after you pass away. You can also take additional steps to create a more comprehensive plan that is aimed at protecting your assets, caring for your family in the best way possible, and maintaining your autonomy at the end of your life. Eghrari Law Firm can provide you with information on the estate planning process and can assist you in making a …
What if You Don’t Do Your Job as Executor of a Will?
If you have been named executor of a will, you need to ensure that you can do this important job properly. Being the executor of an estate is more than just a ceremonial position. You have very real responsibilities and there could be very serious consequences if you end up failing to live up to any of those responsibilities. Eghrari Law Firm can assist you in determining if you want to be executor of a will if a deceased person has named you as the executor. If you decide that you do want …
Why Parents Of a Disabled Child Need a Long Island Medicaid Lawyer
Parents of a child who is disabled should talk with a Long Island Medicaid lawyer. A disabled child is often dependent upon parents for financial support and is often reliant upon Medicaid and other means-tested government benefits, like Supplemental Security Income. Unfortunately, parents who want to provide financial security to ensure their disabled child is cared for after the parents pass away may find that their actions intended to help their child end up putting important benefits at …
What is the Gift Tax Lifetime Exclusion?
If you are planning to give away any money or any property, it is helpful to know the gift tax lifetime exclusion. Understanding the rules for gift taxes can be complicated, but you need to know how both state laws and federal laws work to tax transfers of your assets. You do not want to make an inter vivos gift during your life, or a post humous gift after your death, only to find that a substantial tax bill dramatically reduces the value of the gift that you have provided. Eghrari Law Firm …
Long Island Becomes Part of National Campaign to End Senior Hunger
Senior hunger is a major problem, and an elder law attorney can help seniors to tackle the types of issues that can result in hunger problems. Senior hunger can occur if an elderly person is living in poverty and struggles to purchase food. An experienced attorney can provide assistance to seniors in making sure they save for a comfortable retirement so they don't struggle financially. Hunger can also happen when age related infirmities or health issues prevent cooking. An attorney can assist …
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