For many people, estate planning becomes a necessary process when they achieve professional success or start a family. For others, medical challenges may be what inspire them to plan for the future. Estate planning allows someone to authorize a person they trust to...
Many details of an estate plan do not directly affect a testator. They draft documents with the goal of protecting their loved ones rather than the goal of benefiting directly from them. Of course, people do have the option of creating documents that protect them in...
Many New York estate plans focus on the distribution of property. Choosing beneficiaries and determining the best way to divide property among them is an important element of any comprehensive estate plan. That being said, people also have to choose trusted...
Estate planning procrastination is relatively common. Many people dislike contemplating their death or how their health might decline as they age. They might put off creating an estate plan for years because they find the process unpleasant. Unfortunately, some people...
Those with children tend to prioritize their progeny when establishing estate plans. Many parents take the simplest and most direct route to distributing their assets. They leave instructions to divide their estate evenly among their children after setting resources...
Growing families have numerous needs. Parents may need to consider tactics to increase overall household income. They may also need to look for a more expansive living space. Beyond that, parents in the family probably need to talk about effective means of protecting...
Creating an estate plan involves more than just considering your assets and determining who you want to inherit your property after you’re gone. You also need to think about what will happen in the event that you’re incapacitated by illness, injury or advanced age....
New York estate plans can include a variety of different documents. People often start with testamentary documents such as wills and then supplement those basic documents with additional paperwork. Powers of attorney and trusts are popular additions to basic estate...
Contrary to popular belief, estate planning is not a concern exclusive to older adults or those with substantial wealth. It is also an important consideration for young adults, serving as a protective measure for their assets and a means to ensure the respect of their...
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...
