Mullen and Iannarone, P.C.
631-406-4088
Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

May 2018 Archives

Estate planning can be critical for the future

When people in New York plan for the future for themselves and their families, estate planning can be a big part of the picture. However, only 4 out of every 10 Americans over the age of 60 have important documents in place to deal with their finances or healthcare decisions in case of incapacity. These kinds of documents can help to protect people from elder abuse, fraud and other types of negative outcomes. Across the country, 20 percent of Americans over 65 are financially abused; however, only 10 percent expect that it could happen to them.

Coming up with a trust solution

New York residents can use a trust to protect assets intended for future generations and as a form of tax management for those assets. However, it is important that the person they select to oversee the trust is able to properly carry out the duties the position entails.