In the pursuit of safeguarding wealth for generations to come, families often seek strategic avenues that ensure the longevity of their financial legacies. One such avenue gaining traction is the utilization of Family Dynasty Trusts. These specialized trusts offer a remarkable solution for Tonawanda families looking to protect their wealth while simultaneously fostering a legacy […]
Category Archives: Wills Trusts & Estates
In the realm of modern healthcare, planning for the unexpected is a crucial step towards ensuring that your wishes are respected and your loved ones are equipped to make informed decisions on your behalf. One of the most effective ways to secure your healthcare choices is by creating a living will and a healthcare proxy. […]
When it comes to estate planning in New York State, two common legal instruments that individuals often consider are wills and trusts. Both serve important roles in the distribution and management of assets, but they differ in their structure, requirements, and functions. In this article, we explore the distinctions between wills and trusts in New […]
In the realm of estate planning and healthcare decision-making, a living will holds immense significance. It is a legal document that allows individuals to express their preferences regarding medical treatment in the event they become unable to communicate or make decisions for themselves. At Cole, Sorrentino, Hurley, Hewner & Gambino, P.C., we understand the importance […]
Creating a will is an important part of ensuring that your wishes are carried out after your passing. However, it’s equally important to update your will periodically to reflect any changes in your life circumstances or the laws of your state. This is especially true in New York State, where laws related to estate planning […]
When creating a will in New York State, one of the most important decisions you will make is choosing an executor. An executor is responsible for managing your estate after you pass away, including paying any outstanding debts and distributing your assets to your beneficiaries according to your wishes. Choosing the right executor is critical […]
Death is an inevitable part of life, and while it may be a difficult topic to think about, it’s important to plan ahead. If you die without a will in New York State, your assets will be distributed according to the laws of intestacy. This means that the court will determine how your assets are […]
As you begin to plan your estate, it’s important to keep in mind the tax implications that come along with it. In New York State, there are specific laws and regulations that dictate how estate taxes are calculated and how they can impact your assets. In this blog post, we’ll take a closer look at […]
Planning for the future is an essential part of responsible financial management. One crucial aspect of this planning involves creating a comprehensive will to ensure your assets are distributed according to your wishes after you’re gone. However, the effectiveness of your will relies heavily on the selection of a capable and trustworthy executor. In New […]
Do you need a will? Watch this video by Thomas F. Hewner on whether or not you need a will. If you have any questions please contact us. Some people actually do not need a will. If they’ve set up their estate so that their children are named as beneficiaries, established joint accounts with their children, […]