On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 30, 2019 | Estate Planning
When an estate plan isn’t put together correctly, it can lead to legal battles, tax bills and other problems for New York residents. One of the biggest mistakes that people tend to make is failing to name a beneficiary to a retirement or other account. In the...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 28, 2019 | Firm News
Many people do not have a will. Therefore, you experienced a well-justified sense of accomplishment when you sat down with your attorney to create yours. However, that meeting may have taken place a couple of decades ago. Chances are, a lot has happened in your life...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 19, 2019 | Estate Planning
The mention of trust funds may evoke thoughts of privileged children from wealthy families in the minds of New York residents, but trusts can be extremely useful estate planning tools even for those of more modest means. While the affluent do use trusts to reduce...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 12, 2019 | Estate Planning
When New York residents neglect to draft an estate plan, they create a situation where others will be tasked with making important decisions on their behalf. Many people put off estate planning because contemplating end-of-life scenarios can be emotionally difficult,...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 5, 2019 | Estate Planning
Despite the fact that people often know it is important to plan for the future, many adults in New York do not have wills, trusts or other estate documents in place. There are many reasons why people put off making decisions about their estates: They may not want to...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 4, 2019 | Firm News
There are a lot of commonly misunderstood aspects of estate planning. The spread of myths and misinformation can make it easy to talk yourself out of estate planning. You may assume you do not need to have a will or trust just because you are not at a certain income...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 2, 2019 | Estate Planning
It can make sense in many cases for New York residents to use trusts, rather than other methods, to transfer wealth to younger generations. Among the advantages trusts might offer are asset protection, maintaining family control and tax planning. Dynasty trusts may be...
