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...
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...
People who are creating an estate plan shouldn’t become so focused on passing down assets to their beneficiaries that they forget other consequential estate planning issues. One of these involves setting up plans that will go into effect in the event of medical...
Debt is part of modern life. The average person has multiple credit cards and finances their biggest investments. People use mortgages to buy homes and student loans to obtain a college education. They then spend years paying off their debts. In some cases, people die...
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...
