In our private property system, having your name on something is a mark of pride and accomplishment. Owning your own home and car are part of the classic American dream. These assets also make up part of the legacy you will pass on to your spouse or children in your...
Estate planning is often a complicated process that requires an individual to review their finances and think deeply about their closest relationships. For many testators, a will is the only document that they create. It is the primary instrument that serves to...
Planning for your future and that of your loved ones is crucial. Estate planning documents can help you state your wishes should you die or become incapacitated. However, to enjoy the benefits of estate planning, you need to make the right moves. The following are...
A living will is one of the most important advanced medical directives that adults in New York can add to their estate plans. Often used in conjunction with healthcare proxy paperwork and powers of attorney, a living will specifically discusses an individual's...
When drafting your will, you will appoint an executor. This party will ensure your wishes are fulfilled in addition to other duties. So, should you tell someone you named them as your will executor? Yes, you should consider doing so. Here is why you should tell them:...
Once you decide it’s time to create an estate plan or update your old one, you need someone with the training and experience to help implement your ideas. While all estate planning attorneys must have the appropriate education and a license, that isn’t all you should...
Most of your assets are probably going to be distributed through a will. You could also use a trust, a payable-on-death (POD) account or something of this nature. But most people will simply write out a will specifying how they want their assets to be distributed. As...
Insurance policies, bank accounts, houses and motor vehicles may be on a lot of people’s minds when they hear the term “estate dispute,” but it’s often the little things that create the most problem. Those “little things,” like Dad’s watches or Mon’s diamonds, often...
Making an estate plan is a good idea, and it’s often wise to make it while you’re still young. After all, you never know what life holds or exactly when your family will need that plan. However, if you make it long before you actually have to use the plan, this means...
Some grantors create stand-alone trusts or put them into a will. Others, however, put their life insurance into a trust — aka a life insurance trust. (It’s sometimes called an irrevocable life insurance trust.) Putting your life insurance policy into a trust has many...
