Americans are confused. They're confused about estate planning and rightfully so, it's a diverse topic. Should you create a will, a trust or both? It depends because they serve different purposes, but both can be beneficial to form a complete estate plan. Will and...
Miles Davis heirs very involved in feature film
The heirs of Miles Davis have been working to guard his legacy for years. It’s not something the former music legend was explicit about, said Davis’ son. The son said Davis trusted all of his heirs, and they believe he would want them to safeguard his...Qualities to look for in an estate executor
Often during estate planning, individuals and even attorneys become so focused on creating airtight documents, they may overlook the small but crucial details until the last minute. Choosing the right executor is one such details that some may put off until later....Understanding someone’s reticence to give up financial control
On of the matters of estate and financial planning that can come up in later years is whether someone still has the capacity to manage all of their own finances. While this is certainly a realistic consideration in many cases, it can be a difficult consideration for...Choosing fiduciaries through trial and error
Choosing people to be in charge of your finances or your health should you become incapacitated or even pass away is an enormous decision. How can you know for certain you can put that level of trust in someone? Even someone you like and trust now might not make the...An executor of an estate is tasked with distributing property
What is an executor? What does this person do? What are the responsibilities? An executor is entrusted with the disposition of an estate’s property, assets and possessions. What it all boils down to is that you are responsible for making sure that all debts are...Manage your online social life post-death with an executor
Not many New Yorkers think about what will happen to their online social accounts if they should die. Some people do not think it is a big issue, but consider this: all of your personal messages, social account activity and personal photos are lingering on the...Creating charitable trusts can be very complex
In 1639, Gardiner’s Island in East Hampton, New York, was purchased by an English settler from the Montaukett Indians. The buyer was given the title of the “Lord of the Manor” in a English charter, along with the “right to possess the land...What are the duties of an executor of a will?
A will is often the cornerstone of many types of estate planning. Through the formation of a last will and testament, individuals can detail how they wants assets and property transferred at the time of their death. Typically, a person creating the will, also known as...Challenging a trustee’s breach of fiduciary duties
A central component of any well-considered estate planning is choosing an individual or an organization to represent your interests after you are deceased. For example, many people elect to choose their estate planning attorney as the executor of their wills. Others...
