In New York, insurance companies use complex models to estimate the frequency of car accidents and have found that the average driver files a car accident claim about once every 18 years. Certain factors play into a driver's chances of avoiding accidents, and the...
For philanthropic-minded investors hoping to minimize taxes while generating income for themselves or their heirs in New York, a charitable remainder trust (CRT) is an effective planning tool. A CRT is a type of trust that allows the grantor to transfer assets into...
The state levies a tax on estates exceeding a specific fair market value in New York. Every estate is also subject to federal taxes, with a more generous exemption. The estate tax is sometimes confused with the inheritance tax, but the two are separate and affect...
Making a will is an important step in ensuring that your assets and possessions are distributed according to your wishes after you pass away. While it may not be the most pleasant thing to think about, creating a will in New York can provide peace of mind and ensure...
Crowdfunding has helped many people in New York raise money online. This money can be used for charities, businesses, and as gifts. Many are surprised to learn that money raised through crowdfunding might be taxable. When is crowdfunding money considered a gift? The...
Many people throughout New York take part in charitable giving. For instance, you might donate unwanted clothing to a local charity. You might also be someone who gives away millions each year to charitable organizations. Besides helping those in need and making you...
All car accidents are traumatic, but one of the most dangerous is a rollover accident. New York residents who experience these collisions often suffer severe injuries that may last a long time or even be permanent. These are the causes of rollover accidents. Reckless...
It's crucial that you know what's going to happen with your financial future beyond your own lifetime. With everything else there is to worry about during the process of forming your estate plan in New York, it leaves charitable giving often forgotten about and pushed...
Many New York residents put off developing an estate plan because thinking about death makes them feel uncomfortable. This is completely understandable, but people who are able to tackle these thorny issues rarely regret doing so. With an estate plan in place, you...
More people now realize the importance of an estate plan, but some are making mistakes in setting theirs up. Common mistakes that testators make in New York are forgetting to update it and failing to recognize the full financial implications. Setting it and forgetting...