Authorizing a person to have power of attorney is a crucial part of both estate and long-term care planning. Giving someone power of attorney is equivalent to giving them the reins to your estate or health. It is a huge responsibility for anyone to undertake. If you...
When you are in your twenties or early thirties, building your career and enjoying the freedom of a single life, estate planning might seem irrelevant. It is a common misconception that only married couples or older individuals must concern themselves with such...
Being a parent is one of the most rewarding and challenging tasks there is. You want to secure your child's long-term care and financial security no matter what the future holds for your family. However, this task takes a whole new level of complexity when your child...
Selecting the right trustee is crucial when setting up a trust in New York. This person or entity must manage your assets and carry out your wishes. A trustee's role is complex and requires careful consideration. Understanding the qualities of an effective trustee can...
Over 60% of Americans do not have a will or any estate plan in place. This alarming statistic reveals a critical gap in Americans' preparation for the future, especially when it comes to their children. Estate planning, particularly creating a will, is crucial in...
When you take the time to create an estate plan, you are likely doing so to ensure that your loved ones remain cared for after you are gone. You want to give your family a clear roadmap of your wishes and avoid conflict at all costs. However, even with the best...
Choosing people you trust to make decisions on your behalf if you are no longer able to make your own is an essential step in the estate planning process. You may do this by creating powers of attorney (sometimes referred to as POAs). There are several types of POAs...
Going through the challenges of estate planning can be demanding, especially for those who are not familiar with the legal process. One crucial aspect of estate planning involves knowing the roles of probate and nonprobate assets. If you are seeking to plan your...
Despite its importance, as we have spoken about before, many New Yorkers are still neglecting estate planning. But, why? We all know we will die someday, and we all know that those that we leave behind will have to deal with what and who we leave behind. Why are New...
Estate planning is an integral part of being prepared for the future. In New York, where many people have substantial assets and a family to take care of, it is crucial to make sure to understand the value of these documents. Still, a significant number of Americans...