People commonly think of trusts and estate planning as something that only the extremely wealthy can benefit from. This false belief may attribute to the fact that more than half of all American adults do not have a will. If planning for what happens when you have...
There are many times when people are told to update their estate plans. However, many of the timelines you see are simply suggestions. There are no specific guidelines that tell you when you have to update your estate plan. It’s a good idea to review it annually or...
Crafting a comprehensive estate plan can be a daunting undertaking. Numerous documents are involved, and a multitude of contingencies must be stipulated. Faced with these challenging circumstances, people are likely to tackle larger issues such as who gets the house,...
Some people need Medicaid even though they might have few assets in their name. Although qualifying for Medicaid as an older adult usually means needing to spend everything you already have on care, you can qualify for benefits even if you own a valuable home. Your...
Creating an estate plan is an important step to take for your family. It gives you many benefits and options, and you get a chance to think about what you want to happen with your assets. It also helps you to avoid a lot of potential problems. Today, let’s look at...
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...
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...
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...
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...
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...
