Every August, National Make-A-Will Month serves as an important reminder to create, or review, your estate plan.
Every adult, not just retirees or wealthy individuals, should have an estate plan. Not only does planning in advance ensure that your assets are distributed according to your wishes rather than New York’s default inheritance laws, but it can also can identify who may make financial and medical decisions for you if you become unable to do so yourself.
More Than a Will: Protecting Yourself and Your Family
Estate planning is about protecting yourself and your family, not just deciding who inherits your property after your death.
While a will is an important part of the process, a comprehensive estate plan may also include a power of attorney, Health Care Proxy, living will, a review of beneficiary designations and property ownership, and, when appropriate, trusts to help ensure your wishes are carried out during your lifetime and after your death.
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Tax Implications of the One Big Beautiful Bill Act
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On July 4, 2025, President Donald Trump signed H.R. 1 into law. The legislation, often referred to as the “One Big Beautiful Bill Act” (OBBBA), will have a significant impact on businesses and business owners through tax relief, expanded deductions, government subsidies, and other measures.
Lipsitz Green Scime Cambria has prepared the following, which highlights select provisions in the OBBBA that are particularly vital for businesses to note. We encourage you to discuss the OBBBA’s impact on your business with your legal and financial advisors as needed.
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Estate Planning in 2017
Lucy Berkman, an attorney at Lipsitz Green Scime Cambria, wrote a guest column that appeared in the December 26 issue of the Buffalo Law Journal. In “Put estate planning on the list for 2017”, Ms. Berkman outlines the different elements you may wish to have in place as part of your estate plan, such as Wills, Trusts, Powers of Attorney, and Health Care Proxies.
Read the full article on the Buffalo Law Journal website.