Many people think that only older people need an estate plan, but do young New Yorkers need an estate plan too? The answer is yes. Not just about death An estate plan is not just about what happens to your assets after you die. It is also about what happens to you and...
Estate Planning
Drafting power of attorney documents for your estate plan
No one likes to think about a possible time in life when they might be incapacitated and unable to make their own decisions. But, the reality is that the old saying is right – “accidents happen.” If something happens in your life and, even temporarily, you are unable...
There are fundamental points to remember with estate planning
New Yorkers who are thinking about the future and have concerns as to what will happen to their loved ones inevitably focus on estate planning. Many will have a vague notion as to what that entails. There is no doubt it can be confusing to decide how best to address...
Can I have a handwritten will in New York?
You may have seen a film where a family is gathered around a table, and everyone is waiting to see a handwritten or typed will read aloud. You may have also heard things like, “Just write something down on a napkin and sign it. That would work for courts, right?” Is...
Study: ‘Work longer’ is not good retirement advice
For many people who are planning their estates, one of their main goals is to protect their assets for themselves and their loved ones as they head into retirement. With that in mind, once they start to create their plans, some may plan to delay their retirement by a...
What is long-term care planning?
If you are lucky to live long enough, you will need long-term care, but since no one knows how long they will live, everyone needs long-term care planning. About 66% of us, including those in New York, New York, will need it, which includes bathing, dressing, walking...
What are irrevocable trusts?
For those later in life, hopefully, you already have started your estate plan. It is not only extremely important for your beneficiaries and heirs but also for your end-of-life wishes and your health care needs. One such estate planning tool that can be used for your...
Why is estate planning important?
You probably have heard the term "estate planning" at some point, although you may not be sure what it means. Contrary to what a lot of people think, estate planning involves more than just a will. There are several important documents that you may wish to consider...
Make updating your estate plan one of your New Year’s resolutions
As the new year begins, many of our readers in New York are probably looking to the future to think about how they can make improvements in their lives. Some will promise themselves that they will eat better or exercise more, while others may try to quit bad habits or...
Creditor protection is part of estate planning
Estate planning seems complicated, and that is largely, because it can be, especially as you age. However, one such item that can be overlooked, especially by those who do their plan online is protecting their New York, New York, estate plan from creditors. Do I...