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Bankruptcy Lawyer Long Island

Serving Long Island and New York City.   Few things are as overwhelming as monumental financial challenges. Though facing bankruptcy is always hard, we’re here to help you with the process. Though we are a general practice firm, we have worked with hundreds of clients facing crushing debt and seemingly unsurmountable financial problems. We at Read More... from Bankruptcy Lawyer Long Island

Wealth Transfer Checklist

An all-in-one wealth transfer checklist Talk with your loved ones about transferring assets and protecting your legacy. FIDELITY VIEWPOINTS – 02/18/2021 9 MIN READ Key takeaways: Talking with family members about plans to protect and transfer assets can help avoid unwelcome surprises after you or your spouse dies. Choosing the appropriate people to fulfill the Read More... from Wealth Transfer Checklist

Prince didn’t have a will and neither do nearly 60 percent of Americans

Prince didn’t have a will and neither do nearly 60 percent of Americans

By Tom Anderson Prince shocked estate planners everywhere when it was revealed after his death that he didn’t have a will.   The Purple One was not alone. Only 42 percent of U.S. adults have a will, according to a survey by Caring.com, a website for family caregivers. The top reason people gave for slacking Read More... from Prince didn’t have a will and neither do nearly 60 percent of Americans

Talk About Their Money

The Last Taboo: Your Parents Still Won’t Talk About Their Money With You

by Elizabeth Harris It’s tempting to put off talking about death and money. After all, who really wants to face their own mortality? Couple that with the potential discomfort about revealing specific details about estate plans and it’s easy to see why many families still avoid the topic.   Yet in a surprising new look at the Read More... from The Last Taboo: Your Parents Still Won’t Talk About Their Money With You

Do You Know Who Gets Your Assets When You Die?

Do You Know Who Gets Your Assets When You Die?

By James Watkins III When most people hear the phrase “estate planning,” they immediately think of a will. However, while a will is often the cornerstone of an estate plan, there are certain types of assets it does not control, including insurance policies, individual retirement accounts, 401(k)s, and similar retirement accounts. These assets can be Read More... from Do You Know Who Gets Your Assets When You Die?

Eight Lessons From Celebrity Estates

Eight Lessons From Celebrity Estates

The saying goes that anyone who does not learn from mistakes in the past is doomed to repeat them.  In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.  Mistakes in the estate planning of high profile celebrities is one very good way to learn the lessons of Read More... from Eight Lessons From Celebrity Estates

The (Only) 3 Reasons You Should Have an Irrevocable Trust

The (Only) 3 Reasons You Should Have an Irrevocable Trust

Despite what you may have heard, you probably do not need (or want) an irrevocable trust. When you create an irrevocable trust you are creating a document you cannot change easily, and the property you transfer to the trust is no longer in your control. So why would anyone part with power over his or Read More... from The (Only) 3 Reasons You Should Have an Irrevocable Trust

Divorcing During COVID?

Divorcing During COVID? 5 Things You Need To Know

Have you decided to get divorced during the COVID crisis? You are not alone. This prolonged period of quarantining is causing many people to reevaluate their lives. They have had enough of their spouses during this pandemic and decided to finally start anew.   If you have decided that now is the right time to Read More... from Divorcing During COVID? 5 Things You Need To Know

Higher Taxes Are Coming

Higher Taxes Are Coming – Here’s How To Prepare

We are all dealing with greater uncertainty than usual driven by questions like: How long will we be battling Covid-19? What will the economic impact be? How will the stock market perform? And will my kids ever go back to school? Another worry that might not be on everyone’s radar is the likely increase in taxes Read More... from Higher Taxes Are Coming – Here’s How To Prepare

A Chapter 7 Bankruptcy is the simplest and most common type of consumer bankruptcy.

Chapter 7 Considerations

A Chapter 7 Bankruptcy is the simplest and most common type of consumer bankruptcy.  A debtor who qualifies, will have much of their debt eliminated and given a chance to rebuild their credit.  A Trustee is appointed to liquidate the debtor’s non-exempt assets in order to pay off their creditors. In order to qualify for Read More... from Chapter 7 Considerations

Proposed blog on new proposed GOP tax bill

“Before anyone should get too excited about the proposed new GOP tax plan a careful review of the affect of the changes is critical in order to know whether it works for you. The average taxpayer may find that the proposal works as a tax increase and not decrease. In high State and Local tax Read More... from Proposed blog on new proposed GOP tax bill

When was the last time you updated your will

When was the last time you updated your will?

When was the last time you updated your will?Do you have a Healthcare Proxy? Read More... from When was the last time you updated your will?