If you have a will, you are in the minority of New Yorkers. To be more specific, you are one of about a third of Americans who have one, according to a 2021 survey by Caring.com. An even smaller percentage has a full estate plan with a long-term care plan. We have...
Estate planning is a wise step in New York. This is true for everyone regardless of their age, financial situation, family status or goals. However, it is especially crucial for people who have loved ones to worry about and want to make sure their property is handled...
You may have very personal reasons why you want to leave nothing to one of your adult children in your will, but a disinherited child can be angry if they are surprised to learn, upon the reading of your will, that they will receive less than their siblings or nothing...
When someone executes a will, they do so because they want to ensure that their assets are distributed according to their wishes. For many such people, one concern they have is that their will may be challenged in court when it reaches probate, resulting in...
When you're putting together an estate plan, you're juggling a lot of pieces. You have to consider the needs and wishes of your loved ones, and put those up against the realities of your finances. You have to plan for events that will happen well into the future, and...
Many estate plans require the person who owns the assets of the estate to place significant trust in another person to take possession of the assets and to manage them in a manner that does not violate the trustee’s duty of care to the person creating the trust...
Many people are aware that they can create an estate plan, but they may not be aware that there is another option to protect their assets. Asset protection planning can help protect an individual’s assets from creditors, certain taxes and other claims. Asset...
Many New York residents have taken the time to create an estate plan. Estate plans are important for allocating your assets upon your death and to direct your financial and medical needs in the event that you become incapacitated. A letter of instruction is another...
With the uncertain times of the last two years, we all know what we must do. We all must have an estate plan. It does not matter whether one believes they are wealthy, everyone has wealth, even if it is just the joy we give to our loved ones. And, the attorneys at...
New York residents who have gone through the estate planning process have most likely had power of attorney set up. This is an important step in estate planning because it ensures that a person has someone who will take care of their medical and financial affairs...