[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/nothing-is-certain-but-death-and-taxes-new-york-ny-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/nothing-is-certain-but-death-and-taxes-new-york-ny-greenwich-ct\/","headline":"Nothing is Certain but Death and Taxes","name":"Nothing is Certain but Death and Taxes","description":"\u201cMost of us have heard the quote from Benjamin Franklin, \u2018In this world, nothing is certain except death and taxes.\u2019\u201d No one actually enjoys paying taxes, and few of us really want to think about our own death, but both require advance planning and careful consideration, advises Ohio\u2019s Country Journal in the article “Death and […]","datePublished":"2019-09-17","dateModified":"2023-07-29","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso, LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso, LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0240a4852309.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0240a4852309.jpg","height":427,"width":640},"url":"https:\/\/www.amorusolaw.com\/blog\/nothing-is-certain-but-death-and-taxes-new-york-ny-greenwich-ct\/","about":["Death","Digital Assets","Estate Planning","Funeral","Health Care Proxy","Power of Attorney \/ POA","Taxes","Will"],"wordCount":585,"keywords":["Death","Digital Assets","Estate Planning","Funeral Arrangements","Funeral Expenses","Health Care Proxy","Power of Attorney","Taxes","Will"],"articleBody":"\u201cMost of us have heard the quote from Benjamin Franklin, \u2018In this world, nothing is certain except death and taxes.\u2019\u201dNo one actually enjoys paying taxes, and few of us really want to think about our own death, but both require advance planning and careful consideration, advises Ohio\u2019s Country Journal in the article “Death and Taxes“.Think about how quickly the year has gone. Doesn\u2019t it feel like only yesterday you were making New Year\u2019s resolutions? Then it was tax season, which for more people is worse than going to the dentist. While we all know we should see our dentist on a regular basis, we also like to forget that we need to tackle our estate plan.Preparing for taxes and death: neither one is associated with warm, fuzzy feelings, but we still need to plan for it. This is to avoid burdening our families and loved ones. It\u2019s hard enough to grapple with loss and grieving, but to be completely unprepared, makes matters worse for those who are left behind. Here are some suggestions to prepare for these certainties of life.Have a last will and testament prepared. Work with an estate attorney who is licensed to practice in your state. It doesn\u2019t matter if you have a simple life or a complicated one. You need a will.Designate a power of attorney. Choose someone you trust to be able to sign important documents and take care of business, if you are unable. It does not have to be a family member. Sometimes a trusted advisor is the best candidate for a POA.Have a Health Care Proxy. Again, choose someone you trust who will make the decisions you want. Talk with them about what you want and put your wishes in the document.Create a master file and tell someone where important papers can be found. The documents include insurance policies, mortgages, wills, trusts, POA, health care proxy, information about bank accounts, investment accounts, retirement plans. Don\u2019t leave out contact information for your estate planning attorney, CPA, financial advisor or healthcare providers.Plan your funeral service. Describe what you would like to happen, in as much detail as you can manage. This will help your family immeasurably, so they won\u2019t be left wondering what you\u2019d want or wouldn\u2019t want. If you plan on being buried, purchase a plot. If you want to be buried with your spouse, purchase two adjoining plots.\u00a0 Consider pre-paying for your funeral by purchasing an irrevocable or revocable pre-need agreement.Don\u2019t forget digital assets. Make a list of all your digital accounts, usernames and passwords. If possible, name a person to handle your online accounts. Some digital platforms allow you to designate a person to manage your accounts, access your data and close your accounts. Others do not. If you have valuable data online, from business records to family photos, make sure you\u2019ve planned for these assets.All these items can be updated, as needed. In fact, every three or four years, you should update your estate plan, so that it is current with changing laws and doesn\u2019t miss any opportunities. The same goes for large events in life, including births, deaths, marriage and divorce. Speak with an experienced estate planning attorney to make sure you are ready for the sure thing.Reference: Ohio\u2019s Country Journal (August 26, 2019) “Death and Taxes”For more information on asset preservation and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Nothing is Certain but Death and Taxes","item":"https:\/\/www.amorusolaw.com\/blog\/nothing-is-certain-but-death-and-taxes-new-york-ny-greenwich-ct\/#breadcrumbitem"}]}]