Americans are confused. They're confused about estate planning and rightfully so, it's a diverse topic. Should you create a will, a trust or both? It depends because they serve different purposes, but both can be beneficial to form a complete estate plan. Will and...
Be careful about taking care of an estate without legal authority
When a parent passes away, it’s important to know who has the legal authority to take care of things. When siblings don’t know what the will says–or ignore it–problems can ensue. For example, one woman lived far from her father and her brother,...How many people don’t have wills?
If you don’t have a will, do you feel like you’re the only one, or do you perhaps not know many other people who do have them? While your age clearly plays into this–as people are more likely to write a will as they get older–it’s worth...Probate litigation in New York
The period of time following the loss of a loved one’d death is emotionally traumatic for all family members and friends of the individual who died. It is enough just to process the intensity of feelings and emotions that will come — often in waves —...Understanding someone’s reticence to give up financial control
On of the matters of estate and financial planning that can come up in later years is whether someone still has the capacity to manage all of their own finances. While this is certainly a realistic consideration in many cases, it can be a difficult consideration for...It is never too early to think about long-term care planning
As residents of Monroe County in New York age, many begin to experience concerns about their golden years. These concerns often manifest as feeling fearful about the possibility of declining mental and physical health. These fears can be exacerbated as retirees see...5 key parts of estate planning
If you think that estate planning in New York sounds too comprehensive and complex, making it rather intimidating, it can be easier to break it down into separate parts. Below are five key areas that you need to consider: 1. Probate. This is the legal term for the...Warren Buffett’s thoughts on giving money to children
When writing your will, you may be thinking of simply dividing your money and assets up evenly between your children. While you can do as you please, and this is what many people choose, it can be interesting to look at investor Warren Buffett’s thoughts on the...Millennials and Advanced Health Care directives
Although many millennials have yet to acquire enough wealth for asset distribution to heirs to be an issue of concern, they may want to make a plan for how their affairs should be handled in the event of incapacitation. In this regard, millennials should ask...Have a loved one with special needs? There is a trust for that
All parents worry about the long-term health, safety and wellbeing of their children. However, parents of children with special needs face challenges the rest of us do not. Not only must these parents care for their special needs family members far longer than parents...
