Adults in a variety of personal circumstances can benefit from putting together estate plans. Some people draft documents that protect them later in life instead of just testamentary documents that take effect when they die. Advance directives, sometimes referred to...
Month: March 2024
Requirements for wills in New York
Adults need to have a valid will in place so that their loved ones know what to do with their assets after they die. This is a document that can provide those instructions in enforceable ways. As is the case with every state, there are specific requirements for...
Can adults disinherit family members if they initiate probate litigation?
When an adult commits the time and consideration necessary to draft an estate plan, they do so with the expectation that others will respect their wishes. After all, much of the estate planning process is for the comfort and support of the testator's loved ones....
3 signs it may be time to pursue guardianship of a loved one
Guardianships often attract negative attention. People associate adult guardianships or conservatorships with controversy and sometimes even elder abuse. There have been numerous high-profile cases where guardianships have led to financial abuse. However, New York...
Why retiring adults may benefit from durable powers of attorney
As people in New York age, they may feel more pressure to establish estate plans. Younger adults may procrastinate or may keep things as simple as possible by drafting only a will. Those approaching retirement age often need to think about their finances and their...
Protecting an adult child’s inheritance from a possible divorce
People in different circumstances have different priorities regarding their estate plans. In some cases, the most important consideration is tax minimization. Other times, people worry about their support needs later in life or the protection of their assets after...
3 ways a trust can help your kids preserve their inheritance
Leaving an inheritance to your children is a way to express your love and support them in building a secure future. However, simply handing them a lump sum might not be the most prudent decision. This is where trusts come in; these powerful legal tools can help ensure...
Medicaid planning can affect someone’s legacy, not just their care
One of the most compelling reasons to engage in advanced Medicaid planning is the potential need for future medical care. Those preparing for retirement never know when their health might decline, leaving them in need of long-term care support. The limits of Medicare...
The many uses of trusts during the estate planning process
People who are unfamiliar with trusts are often unsure about their purpose. People frequently think of trusts as a solution for incredibly wealthy people trying to structure an inheritance for their children or grandchildren. Certainly, trusts have historically served...