Rochester Estate Planning Law Blog
Discuss your estate plan to help your family avoid a headache
Many people hate to think about their own mortality, and that can lead them to neglect to put an estate plan in place to pass along their assets to children. But even some people who do have a plan fail to discuss the details with their closest family members. Holding...
7 reasons to revisit your estate plan
It’s a shocking fact that 51% of Americans don’t even have a basic will. If you already have an estate plan, you are at an advantage. However, estate plans are never final—they require updates as life unfolds. A regularly revised estate plan is the key to getting the...
Are there disadvantages to creating a DIY will?
In 2020, most of us conduct a lot of our lives with digital help. We use online banking and bill paying, we shop online, we take classes online and we even order takeout or groceries online. Now, many companies offer online DIY wills or software packages so you can...
The signs of dementia are not always clear
As our parents age, their mental state can deteriorate over time. Sadly, that can limit their abilities to function the way they used to. When this happens, basic tasks like buying groceries, paying bills and taking care of the house can become difficult. If that's...
Do you need to establish an Article 81 guardianship for a parent?
Caring for your parents in their later years can be emotionally difficult. Older adults can often display the same kind of stubbornness and single-minded focus seen in young children, particularly in cases involving cognitive decline due to Alzheimer's or dementia....
3 ways to pass business to family
An owner’s business is their life’s work. That work deserves careful planning to keep it intact for the family members who potentially own and run that business. As an owner, you want to find the most risk-averse strategy for transferring your business to your family....
The benefits of an irrevocable trust
When forming a trust, many people opt for a revocable arrangement. This means that you can alter or dissolve the trust during your lifetime. An irrevocable trust doesn’t have this advantage. But it comes with a different set of benefits that makes it worth...
Consider this document as a loving gift to aging parents
The holiday season is a time for giving and enjoying the company of our loved ones. But they are also a time when unscrupulous people try to take advantage of the generosity of others, especially older citizens. The World Health Organization estimates that one out of...
Failing to grasp end-of-life care may leave it out of your hands
You may think that estate planning is all about what happens to your assets after you pass. While directing assets may be important, you could be helping your family through an even more trying time when they might need your help the most. Two-thirds of Americans...
How can estate planning help prevent family disputes?
You may trust your family to be reasonable about how you divide your inheritance. But after you pass away, you won’t be around to prevent any fights. However, you can minimize conflict by creating an estate plan. Estate planning is much more than just writing your...
