Particularly for those who have lost a loved one recently and are still expected to handle what was their property administering an estate can be an added stress and a time-consuming activity. Even in estates which are not being contested by disgruntled heirs, there is still a lot of administrative paperwork to do and steps to take, and this is true even if the property is part of a trust as opposed to a will that has to go through probate.
Simple estate planning steps for women over 50
As our society has changed over the preview few decades, many women are beginning to find themselves on their own as they approach late middle age. Whether through divorce, death of a spouse or simply deciding never to marry, middle-aged women are beginning to control an increasing portion of our nation's wealth.
The Medicaid "look back" period and how it affects planning
As previous posts on this blog have discussed, many middle class residents of Rochester, New York, who have worked hard all of their lives may find themselves in a bind as they approach old age and retirement. They will either have to fork over tens and possibly hundreds of thousands of dollars to pay for medical and nursing home care, or they will have to rely on Medicaid for help once they stop earning income.
How does the inheritance tax work in New York?
One importance piece of estate administration that any personal representative handling a Rochester, New York, estate will have to resolve is whether an estate will have to consider and pay an inheritance tax. Like many other states, New York has an inheritance tax which has to be paid even if an estate will not be assessed the federal estate tax.
Everyone’s favorite topic: confronting their own mortality
We all agree that it is smart to write wills explaining how we want our life assets to be divided.
Representing New Yorkers in business estate disputes
As a previous post discussed, sometimes Rochester, New York, residents can find themselves embroiled in a probate legal dispute, even with other family members and loved ones. Oftentimes, these disputes arise because some heirs or beneficiaries question how the personal representative or other designated person is handling the family business.
