When you have a small business, one of the things you should think about is obtaining a trust for your business. A trust is helpful because it will help your business continue its normal functions even if you are not there to run it yourself. Trusts have other...
Month: July 2022
Creating an estate plan is easier with your attorney’s help
Many people put off starting their estate plans because they believe that it will take too long or be too complicated. The truth is that it can be easy to put together an estate plan. There is a simple, straightforward method for handling estates of all sizes, and...
What you risk by adding your life insurance to your will
Your life insurance policy benefits the people who depend on you, such as your spouse or your children. The more dependents you have and the younger they are, the more life insurance coverage you may require for their protection. Your insurance will be an important...
Could a trust help with Medicaid planning?
There is no doubt that nursing home care is expensive. Going into a nursing home costs thousands of dollars a month and tens of thousands annually, at a minimum. It makes sense that you’d want to qualify for Medicaid, because doing so could help prevent you from...
How is real estate handled in estate planning?
While you’re working on your estate plan, one of the major topics that will come up is what to do with your real estate. There are a few different ways that you can handle real estate in your estate plan. You can will it away to a beneficiary, set it up in a trust or...
3 crucial steps involved in administering a will in New York
A testator who takes the time to plan their estate will still depend on others to administer their will after they die. Whether your family member named you as the individual they wanted to handle their affairs after their passing or you stepped up into the role...
Does your parent’s medical diagnosis mean they need a guardian?
Guardianship is a way for family members to protect someone who cannot act in their own best interests. As people grow older, they may struggle to take care of themselves as they once did and may require more support than when they were younger. Sometimes, older...
The greatest flexibility comes with a discretionary trust
There are many different types of trust you can use as you do your estate planning. You may want to choose things that are important to you. For instance, educational trusts are very common, as they set aside money that heirs are only allowed to use for college...
Do you need an estate plan at 18?
If you’ve just turned 18, you need to start thinking about your estate plan. You might be thinking that an estate plan is something that only the elderly have, but the truth is that any adult should have some of the basic legal documents for their estate plan in...
2 ways to protect your companion animal in your estate plan
Cats, dogs and other companion animals can contribute significantly to your quality of life and your overall happiness. They also create a responsibility that you may not be able to see through to the end, especially if you are already older. You shouldn't have to...