Estate planning looks different for just about every family. This is especially true for members of the LGBTQ community. If you are a member of the LGBTQ community, below are a few issues that can impact your family. Marriage Status Since June 2015, same-sex couples have been legally allowed to get married in the United … Read more
There’s pride and honor that comes with being asked to be the executor (or administrator) of someone’s estate. You’re unlikely to find a clearer sign that this person trusts you as you’d be carrying out serious legal and fiduciary responsibilities to fulfill their last wishes. It’s logical to quickly say yes and reaffirm their trust … Read more
With the recent banking crisis, FDIC insurance has become a hot cocktail party topic – or at least something you want to bring up with your financial advisor. While the most basic FDIC rules are widely known, learning these lesser-known tricks that can make you the life of the party – and even protect your money. Note that … Read more
Whether you don’t have many close relatives, you’re not close with your family, or the relatives you do have are elderly or are not in a position to take on serious responsibilities, you may feel more comfortable having other important people in your life take on legal roles like your healthcare proxy and power of … Read more
Many people – including many estate planning lawyers – think of an estate plan as a set of documents: Once you have a will, a trust, a healthcare proxy, and a power of attorney, you’re all set, right? Well, not quite. Those documents provide legal authority for someone to implement your wishes, but legal authority … Read more
A study at the University of Cambridge concluded that children begin developing an understanding and habits surrounding finances by the age of 7. The cost of waiting to talk to your children about money can be long-lasting, so let’s take a look at how those conversations can look for your family. Be Aware of How You Talk … Read more
As the year comes to an end, now is the time to make any last-minute adjustments to reduce any potential tax liabilities. Here are some strategies that may help you reduce or defer certain tax obligations for the 2022 tax year. Optimize Investment Losses This year was a challenging time for the market, and financial … Read more
As we approach the holidays, we look forward to a little rest and relaxation (and possibly a lot of chaos!) with our families. If you’re traveling to see family, especially aging loved ones, it may be a good opportunity to discuss what their plan is for the future. The holidays should be a time to … Read more
At The Village Law Firm, we understand the many different shapes a family can take. As a firm in New York City, we see and meet with people from all over the world. This experience with hundreds of immigrants and people with close family members in other countries allows us to understand the particular estate … Read more
Your estate plan is a living document or set of legal documents. This means the plan you set today likely won’t be the plan you have five or ten years down the road. It’s important to take time to update your plan when important changes happen in your life, and divorce may be the most … Read more
