On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 25, 2017 | Estate Planning
When most people consider how they will pass on their assets to heirs, they first think of naming beneficiaries in a will. While this is a common way of ensuring a thorough asset distribution, estate holders may also want to consider setting up trusts. Wills are...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 18, 2017 | blog
Are you concerned about receiving your full inheritance? If your parent has a will, it will have to go through probate, which can be costly and time consuming. Do you wish you would not have to worry about securing your inheritance directly? Thankfully, there are some...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 18, 2017 | Estate Planning
New York residents who do not have an estate plan may want to create one because it can take some of the burden off their loved ones. One of the main elements of an estate plan is a will. With a will, testators can name who they want their assets distributed to as...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 11, 2017 | Estate Planning
A trust is one of the many estate planning tools New York residents can use to ensure that their assets are handled according to their wishes. While not every type of trust is appropriate for every person, the revocable living trust is a common one and may be used for...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 5, 2017 | Estate Planning
Choosing who will fulfill various roles in an estate plan is important, but it may also be a difficult part as well. New York residents may be postponing the creation of an estate plan because they cannot decide who to appoint as executor under their will or for other...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 4, 2017 | Firm News
Due to longer life expectancies, more people these days are considering whether they should purchase long-term care insurance. If your aging parents are very wealthy, they do not need to buy this kind of protection, and if they are on the opposite end of the income...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Apr 3, 2017 | Tax Planning
Many New York farms have been owned by the same family for generations. With property values rising, some owners might be looking to cash out but are concerned about the capital gains tax they might have to pay on the appreciation. There is a provision in the Internal...
