Law Office of Inna Fershteyn and Associates, P.C.
Estate Planning & Elder Law Attorney
While many people associate the process of estate planning with retirement and owning significant value in assets, the fact of the matter is that quite the contrary is actually true. Estate planning by definition is the process of preparing for the transfer of wealth after
As the divorce rate among married couples has stabilized at around forty-five percent in recent decades, an increasing amount of couples looking to split have taken the approach of staying permanently separated, but not legally divorced. Although looking from either spouse’s point of view, such
The concept behind the irrevocable trust, a popular estate planning tool, is relatively simple; irrevocable trusts cannot be revoked and the assets cannot be returned to the trust’s original creator. Furthermore, most irrevocable trusts do not allow for the amendment of the trust, unless changes
Though we often associate estate planning, the process of preparing for the transfer of wealth, with tangible assets like real estate or cold, hard cash, or even intangible assets like banking or investment accounts, the fact of the matter is that for those of us
The sad truth that many of us have to accept is that our children are growing up not only in front of our eyes, but in the eyes of the state as well. Once eighteen, a child is considered a legal adult and is seen
Tax Cuts Don’t Cut the Need for Proper Estate Planning It is no secret that times are due to change. Just short of six months ago, President Donald Trump was vehemently calling for the elimination of the Deferred Action for Childhood Arrivals (DACA) executive order,
Until Death Do Us Part: Exploring the Spousal Lifetime Access Trust (SLAT) What is a Spousal Lifetime Access Trust (SLAT)? The Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that benefits the donor’s spouse and children. Through a SLAT, a donor may reduce a
With regard to estate planning, the process of preparing for the transfer of your assets upon your passing, the legal reality is that most of your digital assets may not be transferable through a written will. Since estate plans typically deal with assets that hold
A will is a legal document that one has drawn up prior to death that states how their assets will be allocated once they pass. This is an important step in one’s estate planning process because it can help ensure that their final wishes are
Like wine decanting, where the contents of a bottle are poured from one container to another, decanting a trust means that the contents of a trust are being transferred to a new trust, likely because the second one brings more advantages. Since by definition, an