Mullen and Iannarone, P.C.
Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

March 2018 Archives

Charitable giving and estate plans

New York residents can include provisions in their estate plan that allow part of their estate to be given to their favorite charities. Changes in federal laws regarding gift and estate taxes are likely to impact the manner in which charity is integrated into an individual's estate plan.

Why trusts may be better for leaving assets to children

New York residents and others may have qualms about leaving assets outright to a minor child. However, it may also be a good idea to leave assets meant for adult children in a trust. The primary reason to leave assets in a trust is that advanced age doesn't necessarily translate into advanced financial skill. As the value of an inheritance increases, it is critical that whoever oversees it has the type of financial skills necessary to manage it properly.