Most people in New York face health issues as they age that could lead to an increase in their health care expenses. This is especially true for women. In fact, according to a 2016 report, health care costs women age 65 will incur while they are retired total about...
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...
When people in New York die their assets will usually go through the probate process before being distributed to heirs. The person's surviving loved ones may be in a state of grief, and may be relying on the executor of their loved one's estate to take care of the...
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...
While being chosen as the executor of a loved one's estate might be considered an honor, it can also be confusing, particularly for those who have not been the executor of an estate before. It is still important to have a basic idea about what the executor of an...
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...
We live in an age where medical advancements and health awareness means that people in New York and nationwide are living longer than ever. While this is a good thing, it highlights the importance for people to give some thought and make plans as to how they will care...
