Category Archives: Estate Planning
Charitable Trusts
The beauty of estate planning is that you can use your money to benefit anyone you choose. This is true whether the value of your property is modest, you are fabulously wealthy, or anything in between. There is no rule requiring you to make your family the beneficiaries of your will. If you do… Read More »
Common Reasons for Estate Litigation
Probate lawyers often reassure their clients that probate is a routine process, more like filing an income tax return than being a party in a lawsuit. This is true except when it isn’t. Uncomplicated probate cases account for the majority of estates, but the reason that probate exists is to serve as a venue… Read More »
Should Inter Vivos Gifts Be Part of Your Estate Plan?
An inter vivos gift is any gift you make while living. Few people think of gifts as a helpful component of an estate plan, but there are many reasons to consider making them. At Cavallo & Cavallo, our Westchester estate planning lawyers make all estate planning tools available for clients. We can advise on… Read More »
Where Should You Store Your Estate Plan?
So you created an estate plan. Congratulations! You are now ahead of the curve. According to a Gallup poll, fewer than 50% of Americans even have a simple will in place, and we imagine even fewer have critical documents like a health care proxy. By creating an estate plan, you can now breathe a… Read More »
Five Wishes Can Simplify Your Estate Plan
The websites of estate planning lawyers and financial planners often encourage you to start your estate plan by making wishes. They tell you to envision yourself watching Broadway shows with your friends during the summer and walking on the beach on the Gulf Coast of Florida with your spouse in the winter. Once you… Read More »
Is High-Risk Borrowing a Sign of Elder Financial Abuse?
The stereotypical image of financial abuse of the elderly is when an opportunistic person ingratiates himself or herself to a lonely but financially secure elderly person and takes advantage of the elderly person’s generosity and physical and emotional vulnerability. The abuser might be a paid caregiver who builds a friendly rapport with the elderly… Read More »
Choosing a Nursing Home
Which nursing home do you want to move to in the future? That is easy. None of them! No one wants to entertain the possibility that they will one day be ill enough that they will require around-the-clock care. If you only need help sometimes, then you have the option of relying on relatives… Read More »
Estate Planning Asset Protection Basics
When you build an estate plan, you have two goals. The first is to provide for your care in your old age, and the second is to plan for the distribution of your assets to your family, or any other chosen beneficiaries, after you die. The less attached you are to wealth and the… Read More »
The Four Parts of Medicare
People who are approaching retirement age often look forward to the free or inexpensive healthcare services they will be eligible to receive, while simultaneously worrying about their out of pocket healthcare costs. Healthcare for retirees is anything but a freebie, and as the cost of living increases and the social safety network erodes, paying… Read More »
Dynasty Trusts
Conventional wisdom holds that you will never be wealthy enough to need the complex estate planning strategies that financial planners advertise. It is not possible to max out the lifetime limit on the annual gift tax exclusion unless you are a multimillionaire. You have a much bigger chance of running out of money and… Read More »