New Yorkers who are seeking to shield their assets as efficiently as possible yet still want to be generous with their loved ones should think beyond the simplest aspects of drafting estate planning documents. Understanding the available loopholes to perform certain acts of giving are wise strategies to avoid tax implications while providing loved ones with items the person wants them to have. For example, the beginning of the year is generally viewed as the optimal time to give estate planning gifts. To understand the law fully and be protected, it is always wise to have legal assistance.
Keeping track of an estate plan when getting remarried
Remarriages and blended families are not uncommon in New York. With that comes certain issues that, if left unattended, can cause family disputes with rancor and the potential legal ramifications. Those who have gotten remarried, and have children from the previous marriage, will want to take steps to shield their children and avoid missteps that can cause negative consequences.
After divorce, understanding how to adjust an estate plan is key
When New Yorkers create an estate plan, those who are married will inevitably include their spouse as a key part of it. This can be as the predominant heir and perhaps the executor of the estate. However, after drafting estate planning documents, some marriages will come apart and the couple will divorce. This can impact the estate plan in myriad ways. After a divorce, there are important considerations that must be factored in given the new circumstances.
What factors affect who gets the pet in divorce?
While divorce can be contentious on its own, when a beloved pet is at stake, things can turn downright nasty.
When can a surviving spouse be disqualified as such in New York?
When a person creates an estate plan, there are laws that dictate how it will be handled after that person - the testator - has died. This is true regardless of the device that is used in the estate plan such as a will, a trust or anything else. The surviving spouse is an important part of the document. However, there are times when there is a dispute over the surviving spouse and if the classification as such remains in effect. Understanding the law as to when the person is no longer considered to be the surviving spouse is important to the probate process after death.
What should I know about guardianship in New York?
New Yorkers with concerns about loved ones and want to make certain they are taken care of when they are incapable of taking care of themselves should understand the alternatives they have under the law. One method is through a guardianship. This is especially important when it involves senior citizens who might need long-term care. Having a grasp about the basics of a guardianship is a fundamental aspect in any situation. As always, legal help is also a critical aspect of ensuring an elderly and infirm loved one is cared for.
Contracts in elder care facilities
The health care industry is not known for its transparency when it comes to cost. Elder care and assisted living facilities mimic hospitals in hiding, or at least not promoting, the fees and costs associated with using them. If you are considering one of these facilities for yourself or an elderly loved one, it might be a good idea to have an attorney review the contract before you sign.
