Rochester Estate Planning Law Blog
Planning for Medicaid and long-term care protects your legacy
Planning your estate can feel like a morbid process, as you have to think about what will happen to your possessions and your loved ones when you die. Many people rush through the process specifically because of how unpleasant they find it, but rushing doesn't do...
4 parts of your estate plan that you should consider updating after divorce
Divorce is a common part of life. Though you may not have expected your marriage to end, it is time to prepare for your life as a single person. That could mean setting up a home, taking up new hobbies -- and revising your estate plan. If you have not looked at your...
Will Medicare cover your long-term care expenses as you age?
Your need for medical support is likely going to increase as you continue to age. While you may currently still enjoy independence, mobility and good health, that can potentially change as you age. When your health declines, your health care costs increase. Most older...
Introduction to estate planning
Upstate New Yorkers who do not have an estate plan may want to consider their options, particularly if they own assets or have a business. There can several components to an estate plan, and it helps to be familiar with them before speaking to a professional to create...
The bulk of Americans remain confused about estate planning
Many Americans receive a quality education as they grow up, but many people get left in the dust. Even those that receive a decent education and learn the details of numerous subjects are often left to fend for themselves or learn from their parents about estate...
5 reasons not to postpone planning your estate
If we have learned anything this year, it is that life can be unpredictable. We never know what is around the corner. If something happened to you today, would your family know your wishes and agree on how to carry them out? You may think they would, but too often,...
Deductions permitted for estates and trusts
The IRS has determined that estates and nongrantor trusts in New York and around the country are now able to deduct certain expenses that are no longer considered miscellaneous deductions. Regulations have been released that offer clarity on the new rules and...
The power of a health care proxy
A health care proxy can wield a significant amount of power. They are important figures in your estate plan, so it’s important to understand their duties before you appoint one. What decisions can health care proxies make? A health care proxy will make just about any...
Which way of transferring real estate will work for your estate?
For many people living in New York, their real estate holdings will be their most substantial assets. There are many considerations when dealing with a home as part of your estate plan, and it's important to really look at your family's circumstances before you make a...
How a trust can help protect an inheritance for your kids
If you have young children, you might think that just creating a last will and naming a guardian who will love and provide for them is sufficient protection in the event that something happens to you while they are still young and dependent on you. However, if you...
