Elder Law And Estate Planning Attorneys You Can Trust
Everyone age 18 and older should have at least a basic estate plan in place. While some people require complex financial vehicles like generational trusts, many people can get by with just a few basic documents. One example of these is a Totten trust. Read on to learn...
A will is valid in New York when it’s in writing, signed by the person whose will it is (the testator) and witnessed by at least two individuals. Thus, a will must have a minimum of three signatures. If you are drafting one, it’s vital to be informed about proper...
Most people name an executor the same way they pick a wedding best man or maid of honor: they choose the person they are closest to and call it done. That instinct comes from the right place. But being a good executor has very little to do with being a beloved family...
Who would pay your bills if you went into the hospital and could not manage your finances for a while? Many New Yorkers sign a power of attorney for exactly that reason. But this document should do more than name a trusted person. It should give that person the right...
You have worked hard for everything you have—your home, your savings, perhaps even a fund for your grandchildren. While many people believe a will is sufficient to ensure these assets go to the intended beneficiaries, that is not always the case. When you pass away...
Blended families in Sayville, New York, often put off estate planning because it requires a difficult conversation. But if you want to protect your current spouse while also preserving assets for children from a prior marriage, you need to be as transparent as...
You created an estate plan to reflect your wishes at a specific point in time. As your life changes, those documents may no longer match your goals. Regular reviews help ensure your plan still works the way you expect and reflects your current circumstances. Major...
A qualified personal residence trust, often called a QPRT, gives you a way to transfer your home while reducing future estate taxes. This trust follows federal tax rules and can play a role in New York estate planning. Knowing how it works helps you decide whether it...
Every person is free to change their mind about their estate, and some level of natural influence or persuasion is legal. The line is crossed when persuasion becomes coercion, a level of pressure that overcomes the testator's free will. Legally, this illegal...
A trust can be a powerful tool for managing and protecting assets, but what happens when the money runs out? Many people assume a trust will last forever, but that isn’t always the case. In New York, a trust that runs out of funds faces several legal and practical...