Family heirlooms probably make at least as much conflict between heirs as stocks, bonds, cash and other things many people see as “wealth.” Sometimes siblings become so bitter about what happens to things of so little value that even experts in estate planning are...
When you least expect it, an illness or injury can leave you unable to communicate. If you don’t have any direction for your medical care, your family and doctors must decide on how to treat you. But when you are in a vulnerable medical state, you want someone you...
A will is meant to ensure you take care of your family after you’re gone. If you don’t outline your wishes, the courts probably won’t spend much time guessing. Only 44% of Americans have penned a plan for when they die. The rest, whether they intend or not, are...
To qualify for Medicaid coverage of long-term care in New York, you cannot have more than $15,450 in assets. But with nursing home costs as high as $6,000 to $7,000 a month, you may need Medicaid benefits to afford your care. If you want to qualify for Medicaid...
Medicaid comes in handy for covering the costs of healthcare, but the limitations can be strict. And unloading your assets to qualify might not work as well as you’d like. Medicaid has varying limitations on income levels and resources, but meeting requirements may...
Few of us want a legal guardian. As adults, we only have them when we become so severely physically disabled or mentally incapacitated that we cannot express ourselves or function without the care of others. But life is full of surprises. So, it is wise to think about...
When you welcome your first child, your life forever changes. For the first few months, you are busy caring for a newborn—figuring out how to soothe your child, feed them and survive some sleepless nights. While many parents do lots of research on the best car seat,...
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...
In New York, estates are settled through probate by an executor, who is named in the will or estate plan. If there is no executor, or the named executor is unable to serve, the estate can be probated by an administrator, typically a professional, who is appointed by...
Creating an estate plan is an important responsibility that can help you ensure that your family is taken care of in the event of your death. If you’re a small business owner, this responsibility is even more important, as both your business and your family could face...
