Serving as the executor or administrator of an estate means settling all of the obligations of the deceased person. It also means distributing their assets in compliance with their wishes. Some people become so fixated on that second requirement that they don't fully...
Month: December 2020
Will the New York courts uphold a no-contest clause in your will?
There are many reasons why you might suspect that someone in your family would challenge your last will. Perhaps you chose to disinherit one of your children or maybe you know that your relatives will fight no matter what you do. A challenge to your estate could...
What can you do when you need to disinherit a beneficiary?
No one hopes to disinherit a beneficiary named in their will or trust. Yet, relationships change over time, and you may now find yourself estranged from one of your beneficiaries. Or, the beneficiary in question might have endured personal hardships that could make it...
What Are Medicaid’s Asset Rules?
The Medicaid requirements may appear like an additional indignity when entering an assisted living facility or placing a loved one in long-term care. The majority of the remaining money you have left is liquidated before that Medicaid initiates. Medicaid is...
Do I need a trust for my newborn child?
The birth of a first child is the first time many New York residents think about estate planning. One question that parents often have is if setting up a trust is a good idea now that they have the responsibility of caring for a newborn. There was a time when many...
5 reasons people don’t do their estate planning
If you haven’t done your estate planning yet, that’s understandable. Most people haven’t. Throwing age out entirely, studies have found that the majority of Americans have no plan -- despite generally acknowledging how important planning is and saying that they...