A power of attorney is something that every New York resident should incorporate into his or her estate plan. Indeed, when considering trustees, executors and fiduciaries, power of attorney documentation is vital and perhaps the bare minimum component of your estate...
Under current U.S. tax laws, transferring wealth at the time of your death often means that you will incur significant tax liabilities. Fortunately, the Internal Revenue Service considers the ownership of wealth differently when it is passed on using certain ownership...
In some ways, modern science is making it harder to put together your estate plan in New York. Thanks to modern technology, women can now freeze their eggs so that they can be used for reproduction at a later date, by another person. You could do this yourself, or one...
Whether or not you are retired, or just starting out in your employment life, estate planning needs to be a part of what you do. Looking at your Individual Retirement Account (IRA) and your medical power of attorney are just two of the areas that you need to take a...
A Supplemental Needs Trust is designed to assist individuals who qualify for certain governmental benefits such as Medicaid and Supplemental Security Income. Also commonly referred to as a Special Needs Trust, an SNT is basically a trust which ensures that...
The death of a relative is difficult to cope with no matter how the person passes away. Whether it is an aged parent who has finally lost a long battle with old age or illness, or a son or daughter who dies suddenly without any kind of notice, the emotions that...
Earlier this year, the famous comedian Joan Rivers died after suffering complications during a surgery to repair damaged vocal cords. The comedian's daughter has since been named as the executor of the late comedian's estate. In a will dated November 2011, and filed...
To understand why an adult guardian may need to be appointed, it is wise to look at the duties that such a person will have. If it is clear that these responsibilities would be beneficial, then it may be the right time to set up a guardianship in New York. One of the...
Estate planning in New York is a bit different than most other states because it is included in a small group of states that collects a state estate tax. Even if you don't live in New York, you may still be subject to this tax if you own property, real estate or...
When a person dies in New York, decisions have to be made regarding the distribution of his or her assets. The New York Surrogate's Courts are tasked with ensuring that a decedent's estate is properly distributed amongst his or her beneficiaries. Typically, this is...
