Picture this: you've spent your whole life building your legacy, working hard to provide for your loved ones and securing your future. But what if, when the time comes, the state decides what happens to everything you've worked for? Dying without a will can come with...
Generation-skipping trusts (GSTs) are estate planning tools that transfer assets directly to grandchildren or later generations, skipping the trust creator’s children. Contrary to popular belief, GSTs are not only for wealthy families. Regardless of your economic...
A do-not-resuscitate (DNR) order allows you to refuse life-saving efforts, such as cardiopulmonary resuscitation (CPR) if you stop breathing or your heart stops beating. According to New York statutes, every hospital must presume consent for CPR unless a DNR is in...
Imagine planning a road trip without a map. You might eventually reach your destination, but not without unnecessary detours and delays. Estate planning works the same way. Without a clear understanding of the process, you risk complications you may have avoided. ...
Creating a trust can be a wise decision for your family’s financial future. This tool allows you to protect your assets from probate and have a hand in distributing your assets even after you are gone. However, a trust is only as effective as its funding. If you have...
Estate planning can be complex, especially for blended families. Unique challenges arise as individuals strive to protect their loved ones and ensure their wishes are honored. Understanding these challenges can help families navigate the process more effectively. 1....
As a New York City pet owner, you've formed a strong bond with your animal companion. But have you considered what would happen to your pet if you weren't around? New York State, the law views pets as personal property, making them part of your estate after you pass...
Have you ever wondered how to ensure the distribution of your assets to your wishes after you pass? A testamentary trust might be the answer you are looking for. This powerful estate planning tool could help protect your legacy and provide for your loved ones long...
The probate process can be challenging and overwhelming after the passing of a loved one. Mistakes during probate can lead to costly delays, disputes and even legal battles. As you embark on this journey, you must be aware of the common mistakes you can commit. Are...
Trusts are powerful estate planning tools that may help you manage and protect your assets. But with different types available, how do you know which suits your needs? Understanding the difference between revocable and irrevocable trusts could help you make an...