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...
When New Yorkers think about estate planning, they might automatically focus on wills or trusts. However, there are other aspects of estate planning that can also be important. For people who are concerned about what will happen if they are unable to make health care...
When you have children to provide for, there are some additional considerations for estate planning. Where will the children live if you die before they’re grown up? Who will take care of them? Is there anything you can add to your last will and testament to express...
Estate planning can include creating a trust or will, but people may be less familiar with a family limited partnership as an estate planning option. A family limited partnership (FLP) is an entity created to manage and protect family assets. There are two types of...
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...
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...
If you are an adult sibling who is unhappy with the way your parents’ estate was divided in their will, you may wonder if you have any legal recourse to challenge the will and get a fair share of the inheritance. Indeed, there are grounds for contesting a will in New...
Modern estate planning uses several different legal devices for accomplishing the intentions of the person making the estate plan. One of the most useful and effective devices is a trust. The general idea of a trust The creation of a trust is fairly simple. The owner...
Being appointed a personal representative of someone’s estate in New York comes with many duties and responsibilities. If you have never served in this role before, you probably have many questions. Having accurate information and a clear understanding of what being a...