January, 2015 | McMahon Law Firm, Attorneys and Counselors at Law

Social media as part of an estate plan

On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 29, 2015 | Estate Planning

New York residents are part of the growing trend of storing photos and other personal digital assets on social media sites and in other online venues. However, another significant issue is becoming more common in connection with digital assets. Family members are...

Keep real estate out of probate

On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 22, 2015 | Estate Planning

Developing an estate plan with the required documents may be an important legacy that a New York resident can leave to his or her heirs. Often, the largest asset in someone's estate is real estate. If real estate is the only asset to be passed on, several actions...

Essential tips for maintaining an estate plan

On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 15, 2015 | Estate Planning

Many New York residents have already taken the essential step of creating an estate plan. It is an important process for protecting assets and distributing them to heirs. However, estate plans can be in place for years if not decades. To keep them relevant, plans may...

Benefiting from the estate tax rules in 2015

On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 7, 2015 | Tax Planning

The U.S. government collected around $12.7 billion from estate tax filings in 2013, but New York residents may be able to minimize the amount they pay because the rules concerning estate tax change every year. First, the federal estate tax exclusion amount rises to...

Reasons to modify a will and estate plan

On Behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 2, 2015 | Estate Planning

Many New York residents who have written will or created other estate planning vehicles will likely have to revisit these documents after the occurrence of certain life milestones. As family members are added or subtracted and the contents of a person's financial...