Binghamton Personal Injury Law Blog | Coughlin & Gerhart, LLP

The basics of charity remainder trusts

On Behalf of Coughlin & Gerhart, LLP | Jan 16, 2022 | Trusts

There are many types of trusts that can be used in estate planning in New York, and one of the most popular ones is the charitable remainder trust. This type of trust works for those who want to give back to the community, while also leaving money for their heirs. Read on to learn more. What is a charitable remainder trust? A charitable remainder trust is a type of trust that allows you to donate money or assets to a charity, while still receiving income from those assets. Your heirs then get...

Tax considerations in New York estate planning

On Behalf of Coughlin & Gerhart, LLP | Jan 14, 2022 | Trusts

Estate planning in New York is a diverse, challenging, and delicate area of practice that you must take your time with because there are many factors at play when transferring property to your loved ones or a charitable organization. Among them, taxes are the main concern. Here's what you need to know about taxes in estate planning. Taxes and estate planning The main reason New Yorkers undertake estate planning is to reduce the hefty tax consequences that come with transferring property to...

Understanding comparative negligence in New York

On Behalf of Coughlin & Gerhart, LLP | Jan 7, 2022 | Car Accidents

Comparative negligence is the legal doctrine that personal injuries are are not always the total fault of another party. Many times the injured victim actually contributes at least in a small portion to their own harm. Most states use comparative negligence in some form when settling accident injury claims with four states and the District of Columbia using the antiquated concept of contributory negligence that was used in the British system. Contributory negligence holds that even 1% of fault...

Pros and cons of corporate fiduciary

On Behalf of Coughlin & Gerhart, LLP | Dec 30, 2021 | Trusts, Wills

Choosing who or what group in New York is best suited to manage your finances after your pass is always a tough decision – and all the more so when complicating factors are present. Deciding whether to appoint family members as fiduciaries In many cases, it might make sense to appoint a trusted and loved individual close to you to look after your affairs. However, choosing a child or spouse as the fiduciary does have some potential drawbacks. For example, you might not be sure of the ability...

Reviewing the basic types of trusts

On Behalf of Coughlin & Gerhart, LLP | Dec 30, 2021 | Trusts

Estate planning is a different experience for everyone, but there are similar concerns that come with creating a trust and will. Every estate planner in New York must consider their options when it comes to different types of trusts. You should learn about the four basic types of trusts to consider: living, testamentary, revocable and irrevocable. Living trust A living trust is a written agreement made while you are alive to decide who receives your property and belongings after your death....

Considerations before appointing a spouse or child as a trustee

On Behalf of Coughlin & Gerhart, L.L.P. | Dec 1, 2020 | Trusts

When someone in Upstate New York decides to fund a revocable trust as a part of estate planning, determining whom to appoint as the trustee would require careful consideration. The testator would want to know that his or her plans would be carried out as wished. A trustee could be a spouse, child or another family member, or the choice might fall on a professional person such as an attorney.The duties of a trustee include, among others, impartiality between beneficiaries, making prudent...

Fatal car accidents may result from careless driving

On Behalf of Coughlin & Gerhart, L.L.P. | Nov 25, 2020 | Car Accidents

A man has sadly lost his life in a wrong-way motor vehicle collision in New York. Meanwhile, another person was seriously injured in the two-car collision. Sometimes, wrong-way car accidents happen due to a driver's negligence, which is grounds for civil litigation.The recent accident took place at about 7:30 p.m. on a recent Friday. According to police, two motor vehicles were driving along a highway on Long Island before colliding. A man, 44, who was driving one of the motor vehicles...

Wrongful death: Woman steps onto street, killed by cement truck

On Behalf of Coughlin & Gerhart, L.L.P. | Nov 24, 2020 | Wrongful Death

Most people know the importance of paying very close attention to their surroundings while walking on roads. However, even residents of large urban areas with years of experience sharing space with all kinds of motorized vehicles can be caught off guard and end up seriously injured or killed. Sadly, such was the case when a woman stepped off a curb in New York City and was hit and killed by a cement truck. Her family may now be suing for wrongful death.The horrific incident happened on a...

Winter weather and premises liability

On Behalf of Coughlin & Gerhart, L.L.P. | Nov 18, 2020 | Premises Liability

As New York residents usher in the holiday season, it may be wise to think ahead and use a little strategy to stay safe and organized. While certainly, people may be looking forward to special dinners, gathering with friends or family, or even watching a favorite movie, it is important to be aware of potential problems or dangers. During the winter months, there are often special circumstances, like bad weather, to plan for. If a person is injured, he or she may wonder if there is an...

Researchers aim to help victims of brain injury

On Behalf of Coughlin & Gerhart, L.L.P. | Nov 12, 2020 | Brain Injury

New York residents are gearing up for the winter months. For people with sensory issues, like persons who have suffered a serious brain injury, things may be extra difficult. Victims who struggle with balance, a common problem following a brain injury, may have a particularly difficult time navigating in longer periods of darkness, slick surfaces, and even holiday lights and loud music. Despite the commonality of balance issues following a brain injury, experts say very little research...

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