Subscribe to Guide
No Result
View All Result
Hamptons.com
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Hamptons Real Estate Market Data
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Sag Harbor Bay
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Hamptons Real Estate Market Data
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Sag Harbor Bay
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
No Result
View All Result
Hamptons.com
February 6, 2013

Estate Planning When It’s Just the Two of You

Rocco A. Carrieroby Rocco A. Carriero
in Real Estate
Home Real Estate

Planning for the future can take a different shape when children aren’t involved. With no braces to pay for or tuition bills to finance, couples don’t have many of the financial obligations that require resources and can impact an estate. On the other hand, these couples must plan for a future that will not include adult children to give them a helping hand – physically, emotionally or financially – as they age.

Estate planning is important regardless of your parental status. A well-crafted estate plan assigns decision makers, designates heirs and specifies who gets what after you and your partner pass away. It allows couples to create contingencies for individual survivorship and can help minimize taxes. It also can help ensure your mutual wishes are respected as health or cognitive abilities decline.

Assign decision makers. Couples without children can each execute a power of attorney naming their spouse to act on their behalf. Each can also designate an alternate attorney-in-fact to act on your behalf in the event you both become unable to make decisions regarding your finances and property. This person may also be assigned the responsibility of executor of your estate*. If you have no children to name, you might consider asking a trusted family member or friend (generally someone younger) or a professional in the estate planning business to take on these responsibilities.

A living will—also called an advance healthcare directive—is another important legal document both of you should have on file. It specifies your wishes in the event of an incapacitating illness and enables your assigned designee to make decisions about your health care on your behalf.

Decide how your assets will be distributed. An attorney can help you draw up a will that specifies how and to whom your assets will be distributed when one or both of you pass away. Without a will in place, your estate will be handled according to the statutes of the state in which you reside. Often, when there are no children or designated heirs identified in a last will and testament, the surviving spouse is the primary heir, then other living relatives, which could include parents and/or grandparents, siblings and siblings’ children. If this is what you intend, you can make that clear in your will; if not, determine how you want to split your assets among your relatives, loved ones and causes that are important to you.

Your estate plan can include strategies for giving financial gifts before or after your death. Under current federal tax law for 2013, an individual may gift up to $14,000 per person to as many people as he or she would like without gift tax consequences. You can also pay college tuition for anyone without being subject to gift taxes or using any of your annual or lifetime gift tax exclusions, as long as you pay the institution directly.

Create avenues for charitable giving. If you don’t plan to leave a significant amount of your assets to family, you may choose to give charitably to causes you’re passionate about. There are other ways to be generous in a tax-efficient way while you and your partner are both are still living. You can donate to a donor-advised fund and receive tax benefits upfront, while suggesting how the funds should be invested and later distributed to your chosen nonprofit organization. With a charitable lead trust, the charity receives payments for a period of time after which you or your heirs receive any remaining assets in the trust. A charitable remainder trust operates in the reverse, giving you or your heirs a stream of payments for a period of time (not exceeding 20 years) or for life, and leaving any remaining amount to the selected charity.

Plan for the unexpected. Your estate plan should include adequate insurance coverage for unexpected events. Be sure to name the appropriate beneficiaries, including one another, on your respective policies. Since moving in with a child isn’t an option, you may wish to purchase long-term care insurance policies that help cover assisted living services or nursing home care as needed later in life.

Consult the experts to create a comprehensive estate plan. A financial advisor can help you and your spouse or partner make plans for the handling of your estate. In conjunction with legal and tax advisors who understand state and federal tax and estate planning laws, you can take steps to ensure you both have sufficient means to live well after the other passes and that your mutual wishes are respected regarding the legacy you leave.

*Note that naming the same person as executor is done separately and is not part of the Power Of Attorney agreement, but is usually done as part of a will.

Sign up for our weekly newsletter!

Get the top Hamptons events and latest scoop!

What's Happening in the Hamptons

Related Posts

Heart of The Hamptons Home Run
Real Estate

Hamptons Real Estate Market Data – Week of 9/9/2025

September 16, 2025
Waterfront Elegance: Experience Ultimate Luxury at 33 Mashomuck Drive in Sag Harbor
Real Estate

Waterfront Elegance: Experience Ultimate Luxury at 33 Mashomuck Drive in Sag Harbor

September 16, 2025
Renovated Coastal Retreat, Just 800 Feet From The Beach
Real Estate

Renovated Coastal Retreat, Just 800 Feet From The Beach

September 16, 2025

Search Articles

No Result
View All Result

LOCAL EVENTS

Events

17
Sep
17
Sep
-
17
Sep

Bring a Friend; Make a Friend

September 17 @ 12:30 PM - September 17 @ 02:00 PM
Sen
18
Sep
18
Sep
-
18
Sep

Classic Albums Live Queen: News of the World

September 18 @ 08:00 PM - September 18 @ 10:00 PM
The Suffolk
18
Sep
18
Sep
-
18
Sep

Perry Bancs at The Stephen Talkhouse

September 18 @ 08:00 PM - September 18 @ 11:00 PM
161 Main St, Amagansett, NY 11930
19
Sep
19
Sep
-
19
Sep

SoundWAVE – a bespoke sound bath hosted by WAVE WELLNESS Southampton

September 19 @ 05:45 PM - September 19 @ 06:45 PM
15b Hill Street Southampton NY
19
Sep
19
Sep
-
19
Sep

Dynamic Duos of the East End

September 19 @ 06:00 PM - September 19 @ 07:30 PM
830 Springs Fireplace Rd, East Hampton, NY 11937
Load more listings
Next Post
Hearty Houseplants Green Up The Hamptons

Hearty Houseplants Green Up The Hamptons

  • 167 Dune Road, Bridgehampton, NY 11932⁠
Saunders Exclusive: $42,500,000⁠
@jenniferwilsonhamptons 
@edbruehl @leemohlerehamptons 
@hamptonsrealestate 
⁠
Experience extraordinary coastal living with this exquisite oceanfront estate on Dune Road in Bridgehampton. ⁠
⁠
Designed by the renowned architect Francis Fleetwood, this remarkable property boasts 300 feet of private ocean frontage, complete with its own private boardwalk leading directly to the beach, all set on over 3 acres of prime land.⁠
⁠
The charming shingle-style residence encompasses 4,200 +/- sq. ft. of luxurious living space, featuring 5 bedrooms and 5 full bathrooms, plus an additional half bath.⁠
⁠
Read the full article at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#duneroad #oceanfront #bridgehampton #realestate #hamptons #francisfleetwood ⁠
⁠
⁠
⁠
  • The Hamptons have seen their fair share of collaborations and takeovers this summer. Still, nothing compares to The h.wood Group and Chase Sapphire Reserve’s transformation of Montauk hotspot Mary Lou’s into Delilah Montauk.⁠
⁠
The four-day takeover combined unforgettable dining experiences with show-stopping live entertainment featuring performances by Zack Bia, Alesso, Gwen Stefani, and DJ Pee.Wee (Anderson Paak). ⁠
⁠
Exclusively for Chase Sapphire Reserve cardholders, diners were treated to white glove hospitality and Delilah’s staples, including the famous chicken tenders and tuna tartare, and bold twists on Hamptons classics like lobster rolls, striped bass crudo, and crab and avocado toast. 

Check out more at Hamptons.com (Link in Bio)

#gwenstefani #alesso #djpeewee #chasesapphirereserve #delilahmontauk #montauk #hamptons
  • LVIS thrift shops are open Tuesdays through Saturdays 10 AM through 5 PM

donations are accepted Wednesday through Saturday 10 AM through 1 PM by appointment 

located at 95 Main St East Hampton
  • Check out the Top Hamptons Events This Weekend!⁠
⁠
🚗 The Bridge IX⁠
📅 Sat, Sept 13 | 2–7PM⁠
📍 The Bridge, Bridgehampton⁠
Over 300 rare automobiles showcased across stunning landscapes.⁠
⁠
🎬 23rd Annual Surf Movie Night⁠
📅 Fri, Sept 12 | 5:30–9PM⁠
📍 Southampton Arts Center⁠
Surfboard swap, live music & outdoor film screening. 🌊⁠
⁠
🍝 San Gennaro Feast of the Hamptons⁠
📅 Sat, Sept 13 – Sun, Sept 14 | 10AM⁠
📍 Hampton Bays⁠
Italian pastries, live entertainment & fireworks Sat @ 8:15PM 🎆⁠
⁠
🎭 In Process: Roderick George⁠
📅 Sat, Sept 13 | 7PM⁠
📍 Guild Hall, East Hampton⁠
A special in-process presentation of The Missing Fruit (Part I).⁠
⁠
🎤 Sheena Easton at WHBPAC⁠
📅 Sat, Sept 13 | 8PM⁠
📍 Westhampton Beach PAC⁠
Grammy-winning artist live on stage!⁠
⁠
☕ Cars & Coffee⁠
📅 Sun, Sept 14 | 9–11AM⁠
📍 Bridgehampton Museum⁠
Classic & exotic cars, food, drinks & live music.⁠
⁠
🛍 Hampton Vintage⁠
📅 Sun, Sept 14 | 10AM–5PM⁠
📍 Westhampton Beach Village Green⁠
Shop unique vintage finds!⁠
⁠
🎶 Hamptons Festival of Music Finale⁠
📅 Sun, Sept 14 | 4PM⁠
📍 St. Luke’s Church, East Hampton⁠
Featuring Cimarosa, Berlioz & Beethoven.⁠
⁠
🍷 Wine Dinner with Pradorey at R.AIRE⁠
📅 Tues, Sept 16 | 6:30PM⁠
📍 Hampton Bays⁠
Five-course tasting menu with exquisite wine pairings.⁠
⁠
🎥 Toy Story 30th Anniversary Screening⁠
📅 Sept 12–15 | Various Times⁠
📍 Southampton Playhouse⁠
Celebrate Woody & Buzz’s timeless adventure!⁠
⁠
Check out more events at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
#carshow #hamptons #sangennaro #sangennarofeast #winedinner #bridgeIX
  • The Animal Rescue Fund of the Hamptons (ARF Hamptons) hosted the Bow Wow Meow Ball in East Hampton. The evening’s honorees, Ellen and Chuck Scarborough, were presented with the Champion of Animals Award, recognizing their more than twenty-five years of support to ARF. ⁠
⁠
Over 400 guests celebrated ARF’s remarkable work with cocktails, followed by dinner catered by Olivier Cheng. Peter Marino, accompanied by his daughter and ARF Board Member Isabelle Trapnell Marino, presented the Scarboroughs with their award. ⁠
⁠
📸: Patrick McMullan/PMC⁠
⁠
Check out the full gallery at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#arf #bowwowmeowball #hamptons #animalrescuefund #animalrescue
Facebook Twitter Instagram Youtube
Hamptons.com

Saunders Broadcasting Corp.

Phone: 631-613-8440
Email: [email protected]
Facebook: Facebook.com/HamptonsOnline
Twitter: @Hamptons
Instagram: @HamptonsOnline

About Us | Contact Us

Hamptons.com

  • Lifestyle
  • Events
  • Real Estate
  • Live Cameras
  • Public WiFi

Subscribe

Sign up for our weekly newsletter!

Get the top Hamptons events and latest scoop!

© 2025 Hamptons.com | All rights reserved
Saunders Broadcasting Corp.
Terms & Conditions | Privacy Policy | About Us | Contact Us

No Result
View All Result
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Hamptons Real Estate Market Data
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Sag Harbor Bay
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support

© 2025 Hamptons.com | All rights reserved
Saunders Broadcasting Corp.
Terms & Conditions | Privacy Policy | About Us | Contact Us