The young adults in your life may not have the proper legal documents in place to provide essential protection to their loved ones. Many parents, grandparents, aunts, and uncles are aware of the importance of having an estate plan in place. However, many adult children, [...]
Owning a pet means a lot of playtime, cuddles, and memories throughout the years. Even though it’s difficult, we often wonder how we will adjust if we were to lose our pets. Very rarely do we think about what was to happen to our pets [...]
New York residents who own property or other assets should ensure that they have an estate plan in place to transfer those assets on to their loved ones after they pass away. Though the process of creating an estate plan may seem daunting, estate planning [...]
Having a detailed estate plan is critical for New Yorkers of any age. While it can be unpleasant to think about death and passing on assets, not doing so could have dire circumstances. Without a plan, family members could see a deceased relative’s assets go [...]
In New York, many people establish their estate plan with the trustee and executor being the same person. While that is common practice, it bears some inquiry whether it is the proper practice. The best answer is that it depends on the goal of the [...]
New York residents are allowed to give another person the power to make decisions on their behalf. A language contained in a power of attorney can be as narrow or as broad as the principal wants it to be. For instance, an agent may only [...]
Adults in New York need an estate plan for a number of reasons. Without an estate plan, they have no control over what happens to their assets. An estate plan can also protect minor children and help ensure that a health care and financial plan [...]
People in New York who have not yet created an estate plan may be prompted to do so by a personal event, such as marriage or the birth of a child. Changes in assets or in tax law could also remind a person of the [...]
Many people in New York may think of 529 plans solely as a matter of saving for their children’s education during their lives. However, these plans may also provide an estate planning option for people who want to lessen the estate tax burden. While the [...]
When people in New York think about the future, they may want to plan for a range of possibilities. One of the most important documents that people can include in their estate planning process is a power of attorney. This document carries a great deal [...]