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New York estate planning a must no matter how old you are

Whether or not you are retired, or just starting out in your employment life, estate planning needs to be a part of what you do. Looking at your Individual Retirement Account (IRA) and your medical power of attorney are just two of the areas that you need to take a look at now, rather than later.

Has your marital status changed? Has there been a child added to your family, yours or a grandchild? Or have you lost a loved one who left you assets that need to be put to good use? The documentation, such as a trust fund or power of attorney, may no longer reflect your financial intent.

If you divorce or remarry, you definitely need to change your will as soon as possible. A professional who specializes in estate planning law can assist you with this. Also, if the person you expected to inherit your assets when you are no longer here passes away before you, you will need to take a look at changing your estate plan as soon as possible.

Being forewarned is forearmed, so be sure to update your IRA beneficiary form if you divorce or lose someone who was to inherit from you. Not doing this can cause great upheaval in the court for many years.

What happens if you plan to gift your son the family home and your daughter an Individual Retirement Account, but the home is now worth more than the IRA? Staying on top of all the details can be exhausting. All the more reason to let a professional who knows you and the laws of New York take care of all this for you.

Do you have a living will? Financial power of attorney goes with that and these should be revisited if you move from one state to another. Getting your paperwork in good stead will give you peace of mind and will make your estate bullet proof. It will also ensure that your children get what you want them to have.

Having someone in your corner who knows all about estate planning in New York can be a valuable asset at a time like this.

Source: CNBC, "Get your estate plans in order—and check your list twice" Shelly Schwartz, Dec. 19, 2014

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  • I wanted to write to say how pleased my wife and I were at your professional handling of our estate planning and preparation of new wills. We were put at ease by your visit to our home for an interview and were pleased that you listened to us and captured the things that we felt were important.

    --Robert and Christine Simonson, Fairport
  • In order to finalize the documents we came to your office and were greeted in a very professional manner and we could not have asked for finer service. We left with copies of everything we needed and feel very confident our needs have been met. Thanks again. We will surely recommend you should the opportunity arise.

    — Christine and Robert Simonson, Fairport
  • I have been working with Weinstein & Randisi for about two years now. Elizabeth Randisi, through a very thorough process, has helped my wife and me determine what is really important in our lives. Thus, we were able to draft a living will that reflected our most important values regarding our estate.

    --David and Ajia Cherry, Fairport
  • I would like to give a testimony for Elizabeth Randisi, an estate attorney with Weinstein & Randisi. Her knowledge of wills and estate planning was clearly demonstrated in her presentation to us. Realizing our need for a will, my husband and I went to see Elizabeth.

    --Kathy and Gary Gray, Webster
  • Filing for Medicaid is never an easy or fun process. However, working with the Weinstein & Randisi firm made the process simple and streamlined. We were able to obtain all files and records regarding Medicaid enrollment within a few days using specially prepared checklists and verbiage recommended by our assigned paralegal.

    --Ajia and David Cherry, Fairport
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