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

August 2019 Archives

Caring for pets after passing away

New York residents may want to make sure that their pets are cared for after their owners pass on. This may be done by adding instructions to a living trust or to a specialized pet trust. It can also be a good idea for pet owners to carry cards that alert others to the presence of their animals. This may prevent a scenario in which an animal is left alone for hours or days after their owners die or become incapacitated.

The benefits of a dynasty trust in estate planning

Families in New York with significant assets frequently use trusts to pass down wealth. These trusts have many advantages related to tax planning and asset control. When a grantor wants to make sure money is passed down even further, perhaps to grandchildren and beyond, they may want to consider using a dynasty trust. This type of trust is designed to last more than one generation past the grantor. It has two unique benefits for multi-generational families.