Futterman, Lanza & Pasculli, LLP

July 2018 Archives

Staying on top of finances may help with long-term care needs

Most people hope to live a long and healthy life. Today, more people are living longer than ever, but those lives are not always free from medical issues. In fact, many New York residents may need long-term care at some point in their elder years, and it may be wise to plan ahead for that possibility.

Parents facing long-term care often have kids considering plans

When a parent has to enter a nursing facility or needs other care, it can often trigger adult children into considering their own future needs. Most people will need some sort of long-term care in their lives, and while options are available, most of them are costly. As a result, it may prove wise for New York residents to consider their planning options

What can an irrevocable trust do for me?

Estate planning is not for the faint of heart. It is a real challenge, figuring out how to protect assets from going into the wrong hands and protecting loved ones from dealing with various issues that may arise regarding your estate after your death. Trusts are a wonderful way to accomplish estate planning goals, but what kind do you need? If you want to place assets in a trust while you are still alive in order to achieve some tax benefits, an irrevocable trust may be what you need.

Estate plans: Should special needs loved ones be disinherited?

Many people in New York and elsewhere with special needs require care throughout their lives. Because care and other necessities can prove costly, many of these individuals tend to obtain government benefits in hopes of making ends meet and maintaining the ability to live their lives as best as possible. Of course, when individuals are considering their estate plans, they may want to leave money behind for their special needs loved ones, but should they?

Letters of intent, updates are useful parts of estate planning

Assets play a major part in many New York residents' lives. Because property can often become valuable for either monetary or sentimental reasons, it is common for people to have the desire to protect their assets and pass them on to loved ones in the event of their deaths. Estate planning can help make sure that the proper steps are taken to ensure that a deceased individual's wishes are carried out.

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