As an important part of estate planning in New York, individuals may prepare a document in anticipation of possible incapacity and the need for another person to make important legal and financial decisions on their behalf. Under a power of attorney, a mentally...
The last thing a Rochester area resident wants to think about is what would happen if they become incapacitated. But for many people this is a reality. A living will is an estate planning document that lets loved ones know valuable medical information. A living will...
Those who have a business in New York need to make certain that their estate plan addresses it. This is similar in importance to the various personal assets that will come to the forefront in these situations. Often, it is more important. The last thing a person who...
More than three-quarters of family businesses lack a robust succession plan, according to PricewaterhouseCoopers. Of these, nearly half are worried about entrusting their businesses to the next generation. The rest have simply not taken the time to work out the...
Rochester residents who are thinking about their estate plan might wonder how various changes to the political climate and other variable factors might affect them and their families. Tax implications, attempts to preserve assets, and the details that go into drafting...
Some people in Rochester may believe creating a will, trust or other estate planning document is only an issue once they reach their old age. In fact, nothing could be further from the truth. Young adults can benefit from having an estate plan, especially if they have...
For better or for worse, it is often major life events that inspire people to seek estate planning assistance. A new mother or father will take action to protect their child by establishing a guardianship and conservatorship to provide long-term care in the event that...
A concern that many New York residents have when they are drafting documents in an estate plan is when they have a loved one who has a mental or physical disability. This can be a complex and worrisome issue that might lead to family disputes. However, there are...
There are many reasons to create an estate plan. A customized plan can help you protect yourself and your loved ones if the unthinkable should occur. Estate plans can reduce your tax burden, provide for your future, protect your business and ensure that your medical...
People in New York who are on the go and living what they deem to be a normal, healthy life will not think about - nor want to think about - the possibility of an injury, condition or illness befalling them and rendering them incapable of making their own decisions....
