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Even if you do not currently have a last will and testament, it is likely that you are familiar with the purpose of the document. Many people, however, are less aware of living trusts and the role that they can play in a robust estate plan. Living trusts have a number...
You probably already know how crucial an estate plan is for your assets and family. Develop a solid and legally binding plan is equally important, as this will prevent family members from contesting it. According to Kiplinger, certain estate planning mistakes are...
Choosing the right business structure is a must for continued success and growth. According to Business News Daily, partnerships are commercial enterprises created by two or more distinct parties. They offer benefits like increased manpower and reduced tax burden....
International investors have been justifiably wary as they observe current high-end real estate trends in New York City. However, recent signs may indicate a rapid and unusual rebound in the near future. Will there be an uptick in sales of distressed assets? Veteran...
If you sell a property you own, then you will need to file a 1099-S form for tax purposes. According to REtipster, this form is part of the closing process and reports your profits from the sale. The IRS requires you to file a 1099-S form to ensure you pay all...
You understand the importance of having a health care proxy make medical decisions for you if you become incapacitated, but do you know how to talk about the matter with candidates? You do not want your chosen proxy to learn of your decision after you become medically...
When you create your business, one of the first things you need to do is decide what structure you will use. Each business structure has its own benefits and drawbacks. This includes LLCs, or Limited Liability Companies. What are the benefits of an LLC? And what are...
Any foreign holder of real estate in New York likely knows just how tricky tax laws surrounding purchases and sales can be. Many owners want to avoid a sizable payment to the U.S. government come April 15th and choose to participate in a 1031 exchange instead. In New...
Creating your estate plan is just the first part of having a healthy and comprehensive end-of-life structure. Your life constantly changes. Thus, you want your estate plan to reflect this. This means reviewing your plan somewhat frequently. But just how often should...
Creating your estate plan often feels like an enormous task in and of itself. The idea of going back and combing through it every so often is likely not appealing to you in any way. Unfortunately, this is a necessity and for the benefit of your loved ones. But is...