Particularly valuable assets often become a focal point during the estate planning process. People worry about their houses and their businesses rather than personal property worth a negligible amount. They may also have financial resources that they need to include...
Month: May 2024
Trusts as a means of maximizing a beneficiary’s inheritance
Adults who are putting together estate plans often begin either by identifying the assets they need to address or by considering who they want to inherit from their estates. Someone's selected beneficiaries can receive financial resources, real property and business...
What is the difference between a will and a trust?
When planning for the future, it is important to know the difference between a will and a trust. Both tools help manage assets and ensure they go to the right people, but they work in different ways and have unique features. What is a will? According to CNBC, 67% of...
What is probate in New York?
When someone dies in New York, probate is likely necessary. The average person may have a difficult time understanding what probate is and why it is necessary. Smaller estates are sometimes eligible for streamlined probate proceedings, but the estate must have a...