On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 27, 2019 | Tax Planning
If the value of a person’s gross estate in New York exceeds the federal estate tax exemption, it will be necessary to pay taxes on the estate. However, with the passage of the Tax Cuts and Jobs Act, the exemption increased to more than $11 million per person and...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 25, 2019 | Firm News
You may have many competent friends. You may even know something about estate planning yourself. However, these kinds of decisions may require the input of an advisor. Setting up an estate plan will probably require careful consideration of your entire family’s...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 18, 2019 | Estate Planning
There seems to be a trust for just about everything, including one that allows a person to freeze his or her assets when he or she is frozen. The process of freezing a person is known as cryonics, which involves the use of liquid nitrogen to cool a body down to -328...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 11, 2019 | Estate Planning
For many New York adults, the hardest part of putting an estate plan together is navigating through the family dynamics. This should come as no surprise considering that estate planning often involves having difficult conversations with loved ones. After all, family...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 10, 2019 | Firm News
As people make their way through a busy, eventful life, they may not give the subject of probate much thought. Perhaps they have an idea of how it works in New York, but is that idea accurate? Here is an overview of the probate process in the state. Explaining probate...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Mar 4, 2019 | Estate Planning
There are many ways that New Yorkers can create a proper estate plan. One effective tool is the revocable trust. This type of document can live on until it has fulfilled the wishes of the deceased. If the deceased was also the trustee, it will be necessary to name a...
