On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 28, 2017 | Estate Planning
New York residents who have individual retirement accounts can use two types of IRA trusts to protect any funds that are left to heirs. Individuals can spend IRA funds as they wish as long as they only take the mandated minimum required. However, for heirs that may...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 22, 2017 | Care Planning
Two thirds of older Americans in New York and elsewhere have not put away funds for future care expenses. A survey by The Associated Press-NORC Center for Public Affairs Research, which polled 1,341 Americans, revealed this number. The fact that the majority of older...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 20, 2017 | Estate Planning
An estate plan may give a testator more control over his or her assets after death. However, New York residents should know that without good communication, an estate plan could lead to fights between family members. A disorganized plan could also make it difficult...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 13, 2017 | blog
Nobody wants to think about aging and losing their health, but it is far better to plan for such circumstances than it is to neglect their eventual probability. According to the Family Caregiver Alliance, there is a 68 percent likelihood that adults age 65 and older...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jun 9, 2017 | Estate Planning
New York residents who are getting married for a second time may want to consider some changes to their estate plans and how they manage their finances. For example, people should be careful about commingling their assets with a new spouse if that party is still...
