Last year, when Prince died at the age of only 57, the iconic musician's death took almost everyone by surprise - not least of his closest surviving family members, who were shocked to learn that the singer had never written a will. According to a Gallup Poll taken in...
In many estate planning scenarios, a person creates a will that designates certain pieces of property to go to one person or another. Then, during the course of their lifetime, the person disposes of the property. For example, they might sell it or even give it away...
People in Rochester may be so wrapped up in their day-to-day lives that they may not give much thought to their future. For example, they may put off estate planning, believing they do not need to address the issue until they're in their old age, or they may simply...
Married couples in New York may have taken the steps to create an estate plan. However, what happens if they both die at the same time, for example, in a fatal car crash? This can complicate the probate process, making it more difficult for their assets to be passed...
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...
