Residents of southern New York don’t expect anything out of the ordinary to happen on any given day. However, life is uncertain and accidents can happen. Some result in catastrophic injuries that can range in severity. What can cause catastrophic injuries? Many...
Month: March 2022
Month: March 2022
3 common mistakes people make while writing a will
The biggest mistake you can make in estate planning is not having any sort of a plan at all. This is true in New York and around the country. Any will that you create is usually better than leaving no will at all. However, there are some common mistakes that you’ll...
Why has the percentage of traffic deaths increased sharply?
Driving statistics from the early days of the Coronavirus pandemic show that motor vehicle deaths increased during this period in New York and across the United States, even though drivers used their cars less. These collisions resulted in the highest highway death...
Does the executor have the final say?
For families in New York who are preparing their estates, one of the key questions in estate planning is the role of the executor. An executor is an important person who makes decisions and helps to facilitate the progress of the estate settlement process, so it is...
What drivers need to know about traumatic brain injuries
Traumatic brain injury is one of the most common types of injuries from car accidents in New York. You should know what the symptoms are and why it's so important to promptly seek medical treatment for a traumatic brain injury. What is a traumatic brain injury? A TBI...
How to create an effective estate plan
Creating an estate plan may help ensure that your needs are met both now and after you pass. If you fail to create a valid will, New York law must determine what happens to your assets after your death. Failing to create a valid trust, power of attorney or other...
Lessening the New York estate tax impact
According to the Tax Cut and Jobs Act, the federal tax exemption for 2022 is $12.06 million per person or $24.12 million for married couples. Any amount above that is subject to estate taxes that can be as high as 40%. In New York, the limit is much lower; any amount...
The fiduciary’s duties for estate administration
New York estate laws spell out strict duties and responsibilities for a fiduciary to follow. The probate proceedings must be done correctly the first time to prevent delays, so an estate administrator has to understand and fulfill the duties as effectively as...