Every New York resident knows that different states have different estate tax laws. In fact, some states offer more favorable incentives than others to retiring seniors. For example, the "Sunshine State" is one state that does not have any estate taxes, and for this...
The formation of a will is perhaps the single best thing you can do to protect your assets prior to your death. Currently, New York State recognizes a person who dies without having formed a will as "intestate." If you are deemed intestate after your death, any assets...
When you are the executor of a will and it requires you to administer the estate of a loved one who has passed away, the responsibility can be overwhelming. It is daunting to say the least and a job in and of itself. It means that you must have an intimate knowledge...
Despite our best attempts to remain young forever, even the most resilient of us must eventually face the prospect of growing older. Entering an advanced age brings about a unique set of challenges that must be addressed. For example, thoughtful long-term care...
When doing estate planning in New York, you may come across a number of terms and definitions for things that you do not fully understand. This is normal, as most people have no experience with estate planning when they start, and it is to be expected. However, it is...
While proper estate planning can help all New York residents trying to get their affairs in order, those who own their own businesses can face a particular set of challenges requiring special planning. Many times, it is those who start out as employees at larger...
The two most important things that New York couples without children need to decide in their estate plan are: (1) what will happen to their property after they die; and, (2) who they want to manage their financial affairs and medical affairs in the event that both...
When it comes to estate planning, whether in Rochester or other areas of New York, the legal jargon can cause confusion. For example, when people hear the term legal trust, it sounds simple, but when they learn that there are many different types of legal trusts, they...
Getting a will in place that you have thoroughly thought about can give you peace of mind that will allow you to enjoy your remaining years without fretting over what may happen if you pass without your final wishes being met. Even young people need to be thinking...
When a person dies in New York State the Surrogate's Court becomes the venue which will decide on the proper supervision of the decedent's assets and property. Typically, this process will begin by establishing the validity of the decedent's will. Generally, a will is...
