Understanding the Law: What Happens to Debts When You Die?

Everyone who creates an estate plan is considering what assets that they want to pass on to their heirs when they die. However, many do not consider what happens to your debts when you pass away. Whether or not your loved ones will be responsible for your debts depends on your estate and the types […]

Deciding Domicile for an Estate: Residence versus Domicile

The estate details of famous actress and comedienne Joan Rivers are largely unknown. The public is aware that she left her $150 million estate to her family, friends, employees, and charities but the provisions are largely unknown because they were placed into a blind trust. However, her will became public when it passed through probate, […]

Big Changes to New York State’s Estate Tax Laws – beware of the cliff!

As expected, the final New York State Budget legislation passed on March 31, 2014 and it includes the biggest changes to the estate tax laws in decades. Before the change, a decedent domiciled in New York State at the time of death whose estate exceeded one million dollars ($1,000,000) in value was subject to New York’s […]

Creating and Managing Your Digital Asset Estate Inventory

Estate planning is an exercise in becoming more organized about your affairs. Its purposes are clear: to plan for your care in the event you become incapacitated, to plan for the care of your minor-aged and disabled dependents, and to specify what happens to your estate after you die. Developing an inventory of your assets […]

Online Life After Death – Digital Asset Estate Planning

Most of us have a significant presence in the digital world whether we realize it or not. If you were to list all your digital accounts and assets, the number would probably surprise you. You may have online accounts with banks, merchants, a brokerage firm, social media platforms, cloud storage companies, gaming sites and email […]