People can very easily find reasons to indefinitely delay creating an estate plan. Those who have not yet married often tell themselves that they don't need an estate plan until they have family members who depend on them. What unmarried individuals may overlook is...
Estate Planning
3 assets people handle improperly when updating estate plans
Those who make a point of including all of their most valuable assets in a will or trust can reduce the likelihood of loved ones fighting when they die. Occasionally, testators need to revisit their estate plans to remove liquidated assets, add new beneficiaries or...
How medical costs and end-of-life care affect estate planning
Someone who is putting together an estate plan in New York has to think about what they want to leave for their loved ones when they die and also what needs they will have as they continue to age. An estate plan can address incapacity and future medical expenses in...
Leaving a meaningful inheritance for children requires planning
Those with children and grandchildren usually intend to leave assets behind when they die to support their loved ones. Children and other descendants are often the primary beneficiaries of modern estate plans, as testators frequently want to provide as many resources...
3 smart steps to take while preparing to make your estate plan
If there is just one step that people need to take when thinking about what happens after they die, it is committing to actually creating an estate plan. Frequently, adults procrastinate making this effort despite knowing how important estate planning is for their own...
Tips for new parents as they make an estate plan
When a couple becomes parents, it’s often a great time for them to start working on an estate plan. Technically, anyone can make a plan after they turn 18. But many people don’t think about it until some sort of life event occurs that shows them how important it may...
How to keep loved ones involved in the estate planning process
It can be embarrassing or emotional to discuss financial matters with loved ones. Some people simply don't like the idea of talking in depth about their personal wealth or their legacy wishes. Others have complicated family circumstances and are concerned that their...
3 reasons to replace an agent or executor in an estate plan
Estate planning is as much about choosing the right people to manage someone’s interests as it is about providing instructions regarding the distribution of one's property. In fact, both the living documents and testamentary documents included in an estate plan...
3 kinds of digital assets people need to add to estate plans
Assets with financial value and also emotional significance to beneficiaries and the testator often become the focal point of estate planning efforts. Frequently, testators prioritize physical property and may overlook the digital assets that they have accumulated...
The need to continually update estate plans
An estate plan is not the final say but a living document that requires revisiting based on certain circumstances. Some experts believe that revisiting the paperwork should occur every three years or as certain circumstances require. Remembering to revise documents...