A trust can function as a control mechanism in an estate plan. For parents with minor children, it helps convert assets into structured support instead of an unprotected transfer. Under New York law, a properly drafted trust can set who manages funds, when funds...
While wills are one of the most important types of legal documents in every adult’s life, it is not the only kind of estate plan that can help safeguard one’s wealth. When you create a revocable living trust, you can keep your assets private and streamline your...
You want your financial success to secure your family's future and make a lasting impact. Your estate plan is the ideal place to formalize your charitable goals. Federal law offers a very high estate tax exemption—$13.99 million in 2025 and $15 million in 2026—meaning...
For some people, estate planning is synonymous with drafting a will. Wills are certainly important documents that help protect dependents, establish a beneficiary's right of inheritance and allow a testator to choose the personal representative of their estate....
Creating an estate plan is one of the most important things adults can do to help provide for their loved ones. If you’re setting up an estate plan, it’s critical that you fully understand the options you have available to pass your assets to your beneficiaries. For...
Adults who are putting together estate plans often begin either by identifying the assets they need to address or by considering who they want to inherit from their estates. Someone's selected beneficiaries can receive financial resources, real property and business...
The ever-rising cost of education is a concern for many parents. With college tuition outpacing inflation, planning for your child's future education can feel overwhelming. One option to consider is establishing an educational trust. But are trusts right for everyone?...
Leaving an inheritance to your children is a way to express your love and support them in building a secure future. However, simply handing them a lump sum might not be the most prudent decision. This is where trusts come in; these powerful legal tools can help ensure...
Probate is the legal process wherein a deceased person’s assets are distributed to their heirs or beneficiaries and any outstanding debts are settled. Probate can be a time-consuming and costly process for families after the passing away of a loved one. Fortunately,...
Creating an estate plan must be a priority for all adults. These plans have many components that help to ensure the creator’s affairs are taken care of if they’re incapacitated and that they’re able to pass down assets to their loved ones. One component of these plans...
