As the year comes to a close, New Yorkers are not only thinking about their resolutions for the coming year. With family gatherings during the winter holidays, it is important to think about the future and how to protect your assets and care for loved ones. Estate...
A trust is an estate planning tool that – among many other things --can give you peace of mind that your wishes will be carried out. There are several items that must be included in the trust. Trust elements First, the document should clearly state the purpose of the...
Life comes with many unforeseen and unexpected changes. When you are in the midst of a change, estate planning documents may not be the first thing that comes to mind. But, what if something changes, you may lose a spouse or what if your favorite charity changes? This...
A common refrain from people who have not created any kind of estate plan is that they do not have enough property to make it worthwhile. In some instances, that is true. However, in many cases, these people had estates more valuable than they thought. Their failure...
The probate litigation process can be long, time-consuming, expensive and very public. Sometimes it can lead to contentious litigation that can rip apart families. In New York, depending on your estate planning goals, you very well could avoid probate entirely with a...
New Yorkers are strong and have learned that a pinch of preparation is worth a pound of cure. This is why many of us want to begin long-term care planning, and one way to do this is through your estate plan. What is long-term care planning? The term, long-term care,...
Many people create an estate plan with the intent that it will be fully carried out after they pass away. However, wills may be contested. This means that a person disputes that the will is valid. Reasons to contest a will While the specific reasons a will is...
Even if you have an estate plan, you may not have planned for incapacitation and unable to make decisions for yourself. If you are in a coma, for example, who would pay the bills or manage your business? Who would make your health care decisions? And, if you have...
As your parents age, you might find yourself concerned about their final arrangements, especially whether they have an effective estate plan. This is an understandable concern. After all, your parents have worked hard to generate their wealth, and you want to ensure...
A special needs trust can be a great way to ensure that your loved one receives financial support from you without negatively impacting their ability to qualify for key government programs like Medicaid. This can be crucial if your loved one has extensive needs, as...