Asset preservation is a crucial aspect of estate planning that ensures your hard-earned wealth is protected and efficiently passed down to your heirs. In New York, the intricate legal landscape requires a comprehensive approach to safeguard your assets from potential threats such as taxes, creditors, and probate. Understanding the multifaceted nature of asset preservation is […]
Category Archives: Estate Planning
15
Feb
Feb
Estate planning is a crucial aspect of financial management that often goes overlooked or postponed. People tend to believe that once an estate plan is in place, it can remain static. However, this misconception can lead to unintended consequences and complications, especially in the ever-changing legal landscape. For residents of Livingston County, NY, understanding the […]
12
Feb
Feb
In the realm of estate planning and administration, the intricacies of probate cases can be both challenging and overwhelming. For residents in Fairport, NY, understanding the nuances of estate sales and liquidation is crucial when dealing with the legal and financial aftermath of a loved one’s passing. At Friedman & Ranzenhofer, PC, we recognize the […]
12
Feb
Feb
According to the Garn-St. Germain Depository Institutions Act of 1982, a mortgage lender may not exercise its option pursuant to a due-on-sale clause for residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, upon: (1) […]
06
Feb
Feb
Estate planning is a crucial aspect of securing your legacy and ensuring a smooth transition of assets to your loved ones after you’re gone. However, despite its importance, many individuals fall prey to common mistakes that can lead to unintended consequences. In Rochester, a city rich in history and culture, it’s imperative to approach estate […]
21
Jan
Jan
Divorce is a significant life event that can have far-reaching consequences, especially in the realm of estate planning. In Pittsford, NY, a community known for its picturesque landscapes and tight-knit neighborhoods, divorce can bring about complex considerations regarding the distribution of assets and the protection of one’s estate. When a couple decides to end their […]
22
Nov
Nov
Webster, a vibrant town in Massachusetts, is home to a thriving community of business owners. Whether you’re a small business owner or the CEO of a larger corporation, estate planning should be a vital part of your financial strategy. While planning for the future can be complex, it is essential for safeguarding your assets and […]
13
Nov
Nov
The U.S. Treasury and IRS have published updated figures for various provisions of the Internal Revenue Code for the year 2024. The estate, gift, and generation-skipping tax exclusions are: The Unified Credit Against Estate Tax basic exclusion amount and the generation-skipping transfer tax exemption will be $13,610,000 under Section 2010. The Annual Exclusion for Gifts will […]
13
Nov
Nov
If you want your car included in your revocable living trust to avoid New York probate, follow the instructions below. The person who creates a trust is the settlor. The owner of the vehicle and the settlor of the trust can be the same person. The person(s) who manage the property of the trust are […]
09
Oct
Oct
Estate planning is a crucial aspect of financial management that often gets overlooked until it’s too late. In Ontario County, New York, residents understand the importance of protecting their assets and ensuring their loved ones are taken care of when they are no longer around. To navigate the complex world of estate planning effectively, it’s […]