Some people who are in the process of doing their estate plans or those considering doing their estate plans in the future might have heard about Increased Estate, Gift Tax Exemption & Annual Exclusion. Skilled attorneys at Futterman Lanza, LLP are here to walk...
Preserving & Protecting Your Family’s Assets & Legacy
Estate Planning
How often should I update my estate plan?
Estate planning is a critical aspect of everyone's life. It is not just about managing your assets -even though it does that- but also about ensuring you take care of your family members and loved ones after you pass on. Life can take unexpected twists and turns, so...
Protect your digital assets for the future
What are digital assets? Do you have social media accounts, emails or photos on your phone? If you do, this means you are the owner of digital assets. Most people tend to think that digital assets are only a part of virtual currency such as crypto or bitcoin, however...
Tips to avoid probate in estate planning
When creating an estate plan, most people typically have one thing in mind: securing their assets as efficiently as possible to pass them on to their loved ones. However, upon your passing, your assets will likely go through a necessary legal process called probate,...
Transfer on Death (TOD) Deeds in New York
Section 424, which provides for Transfer on Death (TOD) Deeds, was recently added to New York State’s Real Property Law, and will become effective on July 19, 2024. With a TOD Deed, the owner of real property, or transferor, can transfer the property to one or more...
Trusts: Revocable vs Irrevocable
A trust can become an important part of your estate plan. There are different types of trusts, and each type comes with its own benefits. Which type is appropriate depends on your goals, and the facts and circumstances of your case. There are two main categories of...
Do I need a pour-over will in New York?
Creating an estate plan can be arduous based on what tools you include according to your estate's details. If you plan to establish a living trust, it can work in tandem with a specific type of will — a pour-over will. This estate planning tool can be beneficial to...
5 common New York estate planning questions
Planning for the future starts with an important step — creating an estate plan. It's not merely about preparing for the unknown; it's a blueprint for the legacy you leave behind. A well-thought-out estate plan is a gift to yourself and your loved ones, offering peace...
Pros & cons of naming more than one fiduciary in your will or trust
A Last Will & Testament and a Trust are two common estate planning documents. Each requires the creator (the Testator in the case of a Will, and the Grantor in the case of a Trust) to name at least one person as the fiduciary, who will manage and administer the...
Why add an estate planning attorney to your network?
Often times, a person won’t come into contact with an attorney until there is an immediate need for certain legal services. For example, the first time a person might use an attorney is when the person buys a home and needs a real estate attorney. Because of this...
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