Law Office of Andrew M. Lamkin, P.C. http://lamkinelderlaw.com Mon, 08 Jan 2018 21:34:17 +0000 en-US hourly 1 Exploring the Probate Process of New York http://lamkinelderlaw.com/new-york-probate-process/ http://lamkinelderlaw.com/new-york-probate-process/#respond Wed, 27 Dec 2017 12:00:58 +0000 http://lamkinelderlaw.com/?p=1780 Probate is a process that settles an estate under the supervision of the court. First, a person (usually a spouse or adult child) is appointed in the deceased’s will or by the court to oversee the process and take all necessary steps to close out the estate, pay all debts associated with it, and distribute […]

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New York Services Available for the Aging Population http://lamkinelderlaw.com/new-york-services-available-for-the-aging-population/ http://lamkinelderlaw.com/new-york-services-available-for-the-aging-population/#respond Wed, 13 Dec 2017 12:00:56 +0000 http://lamkinelderlaw.com/?p=1779 Aging should not be something you fear. New York is home to the third-largest aging population in the country; therefore, the state has taken measures to ensure those over the age of 65 years have plenty of services in place to help them. Not only has the state worked hard to improve nursing homes and […]

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Living Trust FAQs Everyone Should Know http://lamkinelderlaw.com/living-trust-faqs-everyone-know/ http://lamkinelderlaw.com/living-trust-faqs-everyone-know/#respond Fri, 24 Nov 2017 12:00:07 +0000 http://lamkinelderlaw.com/?p=1713 A living trust allows your loved ones to inherit your assets directly, which means without going through probate court. That means you save time and money distributing your estate to your family members. The living trust is a useful estate planning tool, and it could save your estate thousands of dollars. Like other legal tools, […]

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5 Reasons Why You Might Not Need a Living Trust http://lamkinelderlaw.com/5-reasons-might-not-need-living-trust/ http://lamkinelderlaw.com/5-reasons-might-not-need-living-trust/#respond Fri, 17 Nov 2017 12:00:59 +0000 http://lamkinelderlaw.com/?p=1710 A living trust is a way to avoid the hassles and costs of the probate court, and while it is certainly beneficial, it is not beneficial for everyone. When you are examining your options for an estate plan, realize that not all options apply to everyone. Therefore, it is always best that you consult with […]

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Who Should be the Beneficiary of Your IRA? http://lamkinelderlaw.com/who-should-be-the-beneficiary-of-your-ira/ http://lamkinelderlaw.com/who-should-be-the-beneficiary-of-your-ira/#respond Fri, 10 Nov 2017 12:00:03 +0000 http://lamkinelderlaw.com/?p=1707 Your retirement account holds your hard-earned money, but if you think you can designate just anyone to receive that money, you might be surprised. Your IRA works just like an ordinary retirement account, which means you have a beneficiary designation attached to it. When you establish your IRA, you will receive a beneficiary designation form. […]

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Estate Plans and Bankruptcy: How are Your Assets Affected? http://lamkinelderlaw.com/estate-plans-bankruptcy-assets-affected/ http://lamkinelderlaw.com/estate-plans-bankruptcy-assets-affected/#respond Fri, 03 Nov 2017 12:00:07 +0000 http://lamkinelderlaw.com/?p=1705 Bankruptcy is one of those events in life where even a well-structured asset protection plan can fail you. If you find yourself facing bankruptcy or you have just completed a bankruptcy, you may wonder how this impacts your retirement planning and overall estate plan. While bankruptcy does have a significant impact on your estate plan, […]

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What is the Federal Inheritance Tax? http://lamkinelderlaw.com/federal-inheritance-tax/ http://lamkinelderlaw.com/federal-inheritance-tax/#respond Fri, 27 Oct 2017 12:00:53 +0000 http://lamkinelderlaw.com/?p=1682 Any time property is transferred to a beneficiary after the original owner passes away, federal inheritance tax applies. Federal inheritance taxes also referred to as the “estate tax,” is a tax that is based solely on the market value of the property transferred to beneficiaries from the estate. How Does Federal Inheritance Tax Law Work? […]

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Smart Estate Planning Tips for the Entrepreneur http://lamkinelderlaw.com/smart-estate-planning-tips-entrepreneur/ http://lamkinelderlaw.com/smart-estate-planning-tips-entrepreneur/#respond Fri, 20 Oct 2017 12:00:51 +0000 http://lamkinelderlaw.com/?p=1681 As an entrepreneur, you have spent years focusing on how you can grow your business. While this is an important aspect of business ownership, how much time have you put into considering what will happen to your business if you are injured, suffer a chronic illness, or die? If you fail to plan, you run […]

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4 Reasons You May Need a Trust http://lamkinelderlaw.com/4-reasons-may-need-trust/ http://lamkinelderlaw.com/4-reasons-may-need-trust/#respond Fri, 13 Oct 2017 12:00:49 +0000 http://lamkinelderlaw.com/?p=1680 If you have not considered a trust, now is the time to reconsider. A trust is a great way to pass on your wealth and wishes, and it covers areas of estate planning that a will cannot. If you have substantial assets, a trust could protect those assets better than a standardized will. Furthermore, a […]

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5 Things Your Estate Plan is Missing http://lamkinelderlaw.com/5-things-estate-plan-missing/ http://lamkinelderlaw.com/5-things-estate-plan-missing/#respond Fri, 06 Oct 2017 12:00:23 +0000 http://lamkinelderlaw.com/?p=1679 You have gone through the steps of creating an estate plan, and now you assume that you can sit back, relax, and it will do its job. Sadly, too many consumers make this mistake only to realize that they have blatant errors and omissions when they need their estate plans the most. Review our list […]

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