A health care proxy, also sometimes known as an agent or the person named in your healthcare power of attorney, is going to make decisions for you when necessary. Using a medical power of attorney is a very common part of estate planning. You get to select the person...
If you are growing older and realize that you don’t want to find yourself in a guardianship with someone you don’t trust in control of your life, then it is time to put together a plan to protect yourself. Guardianships are powerful tools that families may use to take...
It is often a person's sense of responsibility to others that prompts them to start estate planning. They want to make sure that their spouse won't lose the house or that their children inherit certain assets so they put their wishes in writing when they get married...
Going through a divorce is difficult, and it can change many aspects of your life. Your finances may have changed, or you may have new assets that you’d like to preserve that are now in your name alone. Financial planning after your divorce should include reviewing...
No matter where you are in life, it is important to have a grasp of the basics of estate planning and administration. Common misunderstandings on how things work can hold you back and put your legacy in danger. Missteps could also cost you money or deny your heirs the...
As you make your estate plan, you may have received conflicting advice about whether or not to write a will. Wills have fallen out of favor to a certain extent because they have to go through probate. Nevertheless, a will can perform important functions in your estate...
Administering the estate of a loved one in New York included addressing assets and debt. However, this is only the first step in a process that may take months to years for completion, depending on the size and complexity of the holdings. Kiplinger reports that...
If you live in America but have family abroad, one of the things you may be considering is having one of your family members become your power of attorney. Whether you need a financial power of attorney or health care power of attorney, it’s a good idea to sit down...
Most estates will have to go through probate in New York, but if you have a small estate, the process may look a little different. According to the New York State Bar Association, if you have a small estate, it will go through a voluntary administration instead of...
Whether you are in the early stages of setting up an estate plan, a beneficiary in your loved one's estate plan or in charge of an estate, it is vital to go over various legal issues related to the probate process. Sometimes, people avoid probate altogether by...
