On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 29, 2016 | Estate Planning
As they begin planning how to dispose of their assets after they die, New York residents may be wondering if a will or a trust is the best way to go. Some trusts can ease the tax liability and may make it easier to settle an estate, since probate is avoided. If New...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 26, 2016 | Estate Planning
When New York residents establish a trust, they usually have good reasons to do so. Trusts exist to ensure that the settlor’s wishes are respected. Some settlors want to avoid probate, while others are concerned that their heirs would not handle a lump sum...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 25, 2016 | Trust & Probate Administration
After all the heartache, anger and expense of filing for divorce, it is done. Your property was divided, the custody battle is over and monthly payments have been agreed upon. You are pretty confident that your ex-spouse is done getting any more out of your dwindling...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 23, 2016 | Estate Planning
Through your entire life – thus far– you’ve followed the directions and reaped the rewards: go to school and graduate, attend college and get a job. However, now that you’ve passed all of those hallmarks of adulthood, what do you do next?...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 15, 2016 | Estate Planning
For some New York residents, a trust may be preferable to a will that has to go through probate when an individual passes away. Those who have a trust will name one or more people to oversee its administration. In addition to naming one or more trustees, it may be...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 10, 2016 | Estate Planning
n some cases in New York, people might worry that their wishes will not be honored by their family members after they die. When a person dies, leaving a spouse behind, his or her assets will normally pass to the spouse. The person might be concerned about making sure...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 1, 2016 | Estate Planning
A will is the cornerstone of most estate plans. It is a document that outlines where assets go after an individual passes away. It may also name a legal guardian for a minor child. Trusts name a trustee and are used to hold assets on behalf of beneficiaries. There are...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 1, 2016 | Estate Planning
Over 50 percent of American adults do not have estate plans, and those lacking this preparation may inadvertently create a very tangled and painful situation for surviving family members. Surprisingly, even those who do have estate planning documents can trigger the...
