News & Insights

CAN YOU PROBATE A HANDWRITTEN WILL IN NEW YORK?

HANDWRITTEN WILL

A handwritten (or holographic) will is not enforceable in all states. However, in certain circumstances, the will may still be probated in a state which does not recognize handwritten wills provided certain requirements are met. A recent New York appellate court decision addressed this issue in the Matter of Noichl.   In states that recognize holographic … Read more

Do You Have a Comprehensive Estate Plan That Address All of Your Assets?

Estate Plan

A proper estate plan involves more than just drafting a will. That’s because a will only controls the distribution of what are known as “probate assets.” These are assets that do not have separate beneficiary designations. “Non-probate assets,” which include life insurance, retirement accounts, joint bank accounts, and real property owned “with rights of survivorship,” … Read more

Say Goodbye to the Stretch IRA Under the SECURE Act

IRA

IRAs and 401(k) plans are popular investment vehicles because of the tax benefits. Assets deposited into these accounts are only subject to income tax when they are withdrawn. The IRS sets a certain age at which withdrawals must start (currently 72) and provides for annual “required minimum distributions (RMDs).” These RMDs are calculated based on … Read more