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If you are concerned that a loved one or family member can no longer take care of their finances or are unable to make safe medical decisions for themselves, a guardianship proceeding may need to be commenced.   Who has the authority to commence a Guardianship proceeding? M.H.L. §81.06 lists specifically…

One of biggest gifts given to estate planners is given to us through the Internal Revenue code.   IRC §1014 is the rule that says a beneficiary receives the basis of the decedent at the time of their death.  Step up in basis is best explained through an example. Daredevil Dan…

A basic estate plan involves planning for two things; a person’s demise and their incapacity. A Person’s Demise “In this world nothing can be said to be certain, except death and taxes.”- Benjamin Franklin.  Unfortunately, we all only have a limited time on this earth. Estate planning details how you…

Recently Mark Gastineau, the New York Jets all time sack leader, told the public that he was diagnosed with dementia, Alzheimer’s disease, and Parkinson’s disease. Alzheimer’s disease is an awful disease that affects the brain and destroys memories and other important mental functions.  He may not be able to recall…

When people think of estate planning, they usually think of the elderly or people in white clothes playing tennis on their massive estates in the Hamptons. Both the elderly and the super wealthy need estate plans, but so does everyone, especially parents with young children.  Estate planning consists of planning…

If a person dies without leaving a Last Will & Testament, that person is said to have died intestate.   To learn more about who would inherit according to intestacy, read “What Happens if I Die without a Will?”   When a person passes away without a will, a person needs to…