Weinstein & Randisi
Phone:585-310-1578
Toll free:800-768-1780

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January 2018 Archives

How are assets divided when one dies without a will in New York?

For people in New York who have not yet moved forward with estate planning or have a loved one who died without a will, it is important to know what will happen. For those with significant assets or limited assets, it is wise to think about a basic estate plan, regardless of the circumstances. If there was no will, the heirs should have legal help as well.

How estate planning documents should be adjusted as time passes

New Yorkers who are thinking about their estate plan or already have an estate plan will want to pay strict attention to potential changes to the law and other factors that could necessitate changes. Simply drafting estate planning documents does not mean that it is sacrosanct and could not or should not be altered as needed. With the new tax bill that was recently passed, it is imperative that people have a grasp on the tax implications from the law once it is implemented. There are certain factors that should be considered to properly address this and other issues.

When estate planning, can giving gifts avoid tax implications?

As New Yorkers take steps to plan their estate, there are many alternatives available that should be weighed and considered before jumping in with both feet. For those with substantial assets, a major concern will be how to protect their beneficiaries from a massive tax bill after the person dies. For those who would like to avoid the tax implications, it might be a wise step to consider giving gifts before death in lieu of wills and other common documents in an estate plan. Understanding the options with gifts is imperative.

A Good Time To Plan Ahead

The best time to create an estate plan is now. In general, people contemplate estate planning for weeks, months or even years before finally taking action. For some, it is a birthday, a life event or the start of a new year that finally inspires them to get started. If you are finally ready to put down in writing your plans for the future, you should speak to an experienced professional to make sure everything is done properly.

When is guardianship possible in New York?

When New Yorkers are confronted with the reality that an elderly loved one is no longer fully capable of handling their own affairs, it might be necessary to consider a guardianship. While it might sound intimidating to think about guardianship elder law, the law is relatively straightforward. There are certain criteria that must be met, but, if it is in the best interests of senior citizens or anyone else who is unable to adequately care for themselves, it is wise to understand how it can be done.

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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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