New Yorkers who are considering their options for estate planning might be tempted to avoid the perceived costs and hassles of having a legal professional do it for them. In other words, they might take the DIY option as if it is some household project about which...
The do-it-yourself crowd has access to tools that were unimaginable even a decade ago. Those tools can be powerful, but therein lies the problem. Power, in the hands of the inexperienced, can be disastrous. If you are considering creating an estate plan on your own,...
For New Yorkers who are thinking about the future and their estate plan, sometimes the most basic questions are the most important to answer. Such issues as an unexpected death, an injury or illness that leaves a person incapacitated, what happens to children if both...
A frequent mistake New Yorkers make is failing to properly plan for the future. One integral part of that planning is to have an estate plan that covers for various contingencies. Many might be under the impression that drafting estate planning documents is something...
One of the most difficult issues that a person can face is linked with his or her mortality. Of course, it is an inevitable part of life, but that does not make it any easier. When drafting estate planning documents, New York families must be cognizant of certain...
There are basic elements to estate planning that are generally included in any comprehensive plan. But like any field, there are emerging trends, fads and misinformation that can alter a plan for better or worse. It is important to get reliable, cutting edge advice to...
New Yorkers who are concerned about the possibility that they might become incapacitated and unable to make their own decisions will want to consider a healthy proxy. This document is part of a well-crafted estate plan and should not be ignored. It is not just for...
When you buy an insurance policy, open a bank account or set up a retirement account, you are required to designate a beneficiary. In some cases, you may be asked to choose a secondary beneficiary, but that is often not mandatory. As your life changes, you preference...
The point of estate planning is not to dwell on your own demise. Estate planning involves many items that serve to improve your life, now and into the future. Of course, there are elements of estate plans that only come to fruition when you die, but there are worse...
A previous post on this blog discussed how careful estate planning can prevent an aging resident of Rochester, New York from falling victim to financial exploitation. Although many New Yorkers would realize that a pattern of financial exploitation, once it has run its...
