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...
Most New Yorkers assume that making a will prevents all intra-family squabbles about asset distribution after the maker’s death. If only this were so. . . . Family members often feel short-changed by one or more provisions of the will of a relative. These individuals...
Just because you have a trust fund does not mean that you have to agree with everything that your trustee does, approves or denies. Indeed, during the New York trust administration process, beneficiaries possess the lawful authority to bring a lawsuit against a...
When you’re dealing with an extensive amount of wealth, you want to make sure that your estate plan is detailed, thorough, and legally enforceable. If you leave gaps in your estate plan, or you make a devastating error, then your hard-earned assets could end up in the...
New York residents may avoid estate planning for a wide variety of reasons, but the difficult and archaic-sounding terms involved can be one off-putting reason. “Intestate” is one of those terms. So, what does it mean to die intestate? 'Intestate' defined Quite...
One important consideration when you are planning for long-term care is how you will pay for it. Long-term care can be quite costly, especially if you want a service such as an in-home caregiver. You may count on family or friends to provide you or your spouse with...
You may have heard that you need to create an estate plan but have no idea where to start. There are several estate planning tools to choose from, but many New York estate plans contain the following documents. Wills A will is often considered the most important...
If your loved one has an estate plan in place, there is the presumption that no issues will occur during the administration of the estate. Unfortunately, this is not always the case. Even if steps were taken to avoid probate, this process might be necessary to...
A will essentially serves as instructions for distributing your assets after you are gone. To ensure that your will is legally binding, you should make sure that it meets all state requirements. Under New York estate laws, a will must meet the following requirements:...