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December 2018 Archives

Probate administration requires experienced legal help

New Yorkers will undoubtedly have a great deal on their plate when a loved one dies. Between the emotional impact and the need to plan for a funeral, many will believe that legal issues should take a backseat. However, while grieving is unavoidable and a natural human response, it remains necessary to maintain vigilance and prepare for probate. Often, people will forget the importance of navigating the decedent's finances. This can lead to mistakes that can be costly. Having legal assistance with probate administration is essential.

What you should know before you plan that big gift

As part of your estate plan, you may have considered making a large gift to a loved one while you are still alive. There are many reasons to do this. Perhaps you want to help someone in need, invest in a loved one’s business or just enjoy their enjoyment of a piece of property. Some property is easier to transfer now than making your family put it through probate. Before you make that big gift, however, you should know a few things about the federal gift tax and its exemption.

An estate plan is not just for older, married people

There are certain aspects of life that New Yorkers will prioritize based on their age and current life situation. For example, a person with a family who is established in his or her career will likely place a greater emphasis on having all the essentials in place. That includes health insurance, a stable home, a stable job and an estate plan. For younger people - especially millennials - these might take a backseat toward becoming established and enjoying life with a freewheeling attitude. However, the failure to take the necessary steps in drafting estate planning documents is something these individuals regret every day. For millennials, understanding what documents are important and why is key to having a viable estate plan.

Tax implications and estate planning for the unmarried

While crafting a comprehensive estate plan is often framed as a safety mechanism for family members, not every New Yorker is married. This could lead to a perception that they do not need to move expeditiously in creating an estate plan. However, it is important for everyone to have an estate plan and this combines with the new Trump Administration tax laws should be factored in when creating or updating it. For single people, it is wise to understand how to prepare an estate plan with the new tax laws in mind.

Updating an estate plan is a forgotten necessity for New Yorkers

New Yorkers should be fully aware of the importance of drafting estate planning documents. There are a seeming endless number of reasons why this is a good idea. Often, however, people who have an estate plan will not update it as needed. Simply having the estate plan is rarely enough. Knowing when and why it is essential to update the plan can avoid long-term problems and regret.

Could a special needs trust help your loved one?

Creating your estate plan can be complicated, and if you have a disabled loved one, your plan can be even more complicated. One option you have available to you in New York is the special needs trust, also referred to as a supplemental needs trust. The special needs trust allows you to care for a disabled family member without jeopardizing the Medicaid benefits they rely on.

  • 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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Weinstein & Randisi - estate planning

290 Linden Oaks, Ste. 200
Rochester, NY 14625

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