Selecting your executor is absolutely essential. That person will handle many vital responsibilities after your death. These include making sure that your assets go to the people you designated, taking care of your taxes, bills and debts and informing your bank of...
Many people choose revocable living trusts instead of a traditional will. They give more protection to the assets you own. While they will not protect them from creditors as you can with an irrevocable trust, they avoid details of the assets being disclosed to the...
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...
During your life, you realize that you won’t be able to take everything you own with you when you die. This can be a scary thought when your estate includes precious memories, family heirlooms and keepsakes. To help ensure that your assets go to the people you want to...
The more valuable an asset is, the more important proper estate planning for it becomes. For those with real estate in their names, that property is probably worth more than any other single asset they own. they likely want to retain control over the property while...
You shouldn’t wait until your golden years to start planning for your retirement. But life has a way of interfering with the best of our plans sometimes. So it could be that you find yourself in your 50s or 60s and only having a single – but sizeable – IRA as your...
A revocable living trust is one that has provisions that can be changed or amended upon the grantor’s request. You create it during your lifetime and add or remove assets so long as you have the capacity to make decisions for yourself. In the event you’re...
Many people idolize their parents. They have worked hard their entire life, raised a family and managed to keep it all together. However, age is inevitable and it catches up with us all at some point. It can be difficult to watch your parents become more dependent and...
Many people think of estate planning as an unpleasant process. They may not like thinking about what happens if they become sick or suddenly die. They may also have to think about painful truths about their loved ones, like how addiction has affected one of their...
Many older adults in New York count on Medicaid, not just Medicare, to cover their expenses as they grow older. After all, Medicare does not cover nursing home support, in-home skilled nursing services or extended rehabilitative care. Adults who have planned carefully...
