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February 2017 Archives

Those without children should still create an estate plan

People in Rochester may be so wrapped up in their day-to-day lives that they may not give much thought to their future. For example, they may put off estate planning, believing they do not need to address the issue until they're in their old age, or they may simply think it's not important. In fact, according to one report, 56 percent of people in the United States have not drafted a will. This is unfortunate, because without an estate plan in place a person's assets will be distributed per state intestacy laws, rather than how the person might have chosen.

On what grounds can a will contest be based?

Losing a loved one can result in strong emotions, especially if family members do not get along or if there is a very sentimental attachment to certain items of the deceased's property. If a loved one in Rochester left a will, this can help sort out inheritance issues. However, is there anything that can be done if you think that the terms of the will should not be followed?

Planning for your long-term medical needs after retirement

Most people in New York face health issues as they age that could lead to an increase in their health care expenses. This is especially true for women. In fact, according to a 2016 report, health care costs women age 65 will incur while they are retired total about $314, 673. This amount is 18 percent higher than that men of the same age would pay. This means that when it comes to long-term care planning, health care expenses should be kept in mind.

Why have a simultaneous-death clause in your estate plan?

Married couples in New York may have taken the steps to create an estate plan. However, what happens if they both die at the same time, for example, in a fatal car crash? This can complicate the probate process, making it more difficult for their assets to be passed on to their heirs.

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Weinstein & Randisi
290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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