As parent ages, a possible need to have a conversation about their well-being and potential need for additional support draws nearer. Suppose you bring up this issue but they resist an evaluation; you may wonder what to do next. The solution likely lies in...
Particularly valuable assets often become a focal point during the estate planning process. People worry about their houses and their businesses rather than personal property worth a negligible amount. They may also have financial resources that they need to include...
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...
When planning for the future, it is important to know the difference between a will and a trust. Both tools help manage assets and ensure they go to the right people, but they work in different ways and have unique features. What is a will? According to CNBC, 67% of...
When someone dies in New York, probate is likely necessary. The average person may have a difficult time understanding what probate is and why it is necessary. Smaller estates are sometimes eligible for streamlined probate proceedings, but the estate must have a...
People who are creating an estate plan shouldn’t become so focused on passing down assets to their beneficiaries that they forget other consequential estate planning issues. One of these involves setting up plans that will go into effect in the event of medical...
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?...
Debt is part of modern life. The average person has multiple credit cards and finances their biggest investments. People use mortgages to buy homes and student loans to obtain a college education. They then spend years paying off their debts. In some cases, people die...
Adults in a variety of personal circumstances can benefit from putting together estate plans. Some people draft documents that protect them later in life instead of just testamentary documents that take effect when they die. Advance directives, sometimes referred to...
Adults need to have a valid will in place so that their loved ones know what to do with their assets after they die. This is a document that can provide those instructions in enforceable ways. As is the case with every state, there are specific requirements for...
