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...
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...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....If you wish to contest the choice for executor of an estate
If a loved one died and appointed an executor that you do not believe is up to the task, it can be difficult to speak up. However, as a beneficiary you have a right to contest the choice of executor in order to protect the estate. The importance of the right choice An...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...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...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...
