September 2024 - Brooklyn Wills & Estates Lawyer

Estate Planning for Business Owners: Navigating Succession Challenges and Safeguarding Business Assets

By Brian Figeroux, Esq. | Editorial Credit: Southworks/shutterstock.com Key Points of this Analysis Succession Planning: Users emphasize the importance of having a clear succession plan to ensure the business continues smoothly after the owner’s death. Valuation and Division: Estate planning profes...

Charitable Giving and Legacy Planning: Integrating Philanthropy into Modern Estate Strategies

By Brian Figeroux, Esq. | Editorial Credit: Rawpixel.com /shutterstock.com Key Points of this Analysis Donor-Advised Funds: Donor-advised funds as a flexible way to manage charitable giving during their lifetime and beyond. Charitable Trusts: How charitable remainder trusts and charitable lead tru...

The Impact of State Laws on Estate Planning: Navigating Jurisdictional Challenges for Multi-State Property Owners

By Brian Figeroux, Esq. | Editorial Credit: Fizkies / shutterstock.com Key Points of this Analysis State-Specific Laws: Understanding how state laws impact wills, trusts, and probate processes. Multi-State Issues: Managing estates across state lines, including differing probate rules and tax impli...

The Role of Insurance in Estate Planning: Ensuring Tax Coverage, Debt Management, and Liquidity for a Smooth Transition

By Brian Figeroux, Esq. | Editorial Credit: Yuri A / shutterstock.com Key Points of this Analysis Covering Estate Taxes: How life insurance can help cover estate taxes, ensuring that other assets do not need to be sold. Providing for Minor Children: Highlight life insurance as a way to secure the f...

Crafting Inclusive Estate Plans: Addressing the Unique Needs of Non-Traditional Families—Blended, LGBTQ+, and Unmarried Partnerships

By Brian Figeroux, Esq. | Editorial Credit: NDAB Creativity / shutterstock.com Key points of this analysis: Legal Challenges: Ensuring inheritance rights for stepchildren or partners in unmarried relationships. Customizing Plans: Strategies for customizing wills and trusts to meet the unique needs...

Harnessing Trusts for Privacy Protection, Wealth Management, and Tax Efficiency: Exploring Revocable, Irrevocable, and Special Needs Trusts

By Brian Figeroux, Esq. | Editorial Credit: Mavo/shutterstock.com Trusts are one of the most powerful and versatile tools in estate planning, offering significant advantages in terms of privacy, wealth management, and tax reduction. As the complexities of modern financial landscapes grow, trusts hav...

Integrating Digital Assets in Estate Planning: The Growing Importance of Cryptocurrency, NFTs, and Online Business Accounts in Personal Wealth Management

By Brian Figeroux, Esq. | Editorial Credit: Ismayil Orujov/ shutterstock.com Key Points of this Analysis Inclusion in Wills and Trusts: Importance of explicitly including digital assets in wills and trusts to ensure they are not overlooked during probate. Access and Security: How beneficiaries c...

Navigating Estate Planning Challenges in Blended Families: Ensuring Fair and Equitable Distribution for Biological and Stepchildren

By Brian Figeroux, Esq. | Editorial Credit: Davor Geber / shutterstock.com Key Points of the Analysis Fair Distribution: The best ways to divide assets fairly in blended families, with considerations for biological children, stepchildren, and surviving spouses. Avoiding Disputes: Tips on creating...

The Impact on an Estate in New York State When Someone Dies Without Completing an Uncontested Divorce: A Case Study of Short Marriages Without Children

By Brian Figeroux, Esq. | Editorial Credit: Prostock-studio / shutterstock.com Divorce proceedings can be emotionally charged and complex, even in seemingly straightforward cases like short-term marriages without children. When individuals pass away without having finalized a divorce, especially in...

Impact on an Estate in New York State When Someone Dies Without Completing an Uncontested Divorce: A Case Study of Short Marriages With Children

By Brian Figeroux, Esq. | Editorial Credit: Fizkes / shutterstock.com Divorce proceedings can be emotionally and legally challenging, even in seemingly straightforward cases, such as short-term marriages with children. When an individual in New York State dies without having finalized a divorce, es...