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...
When a loved one becomes too elderly or infirm to care for him- or herself, New York families may be faced with the problem of finding a suitable long term care provider. Whether you need to find a nursing home for yourself later in life or for a loved one, you might...
Estate planning is a complicated yet important component for individuals seeking to protect their life's work and provide for their family's future. On another page of our website we discussed how trusts are essentially tools which can be used to legally transfer...
Planning for your elderly years often means setting up things so that you can get the long-term care assistance that you need. This is something that should be done in advance, and it is never too early to start. Some things to consider are: -- Who will make your...
In New York, the executor of a will is the person named by the decedent to carry out the provisions of the will. In some cases, a woman tasked with this responsibility is sometimes referred to as an executrix. It is also important to know that sometimes a bank or a...
Every New York resident knows that different states have different estate tax laws. In fact, some states offer more favorable incentives than others to retiring seniors. For example, the "Sunshine State" is one state that does not have any estate taxes, and for this...
The formation of a will is perhaps the single best thing you can do to protect your assets prior to your death. Currently, New York State recognizes a person who dies without having formed a will as "intestate." If you are deemed intestate after your death, any assets...
When you are the executor of a will and it requires you to administer the estate of a loved one who has passed away, the responsibility can be overwhelming. It is daunting to say the least and a job in and of itself. It means that you must have an intimate knowledge...
Despite our best attempts to remain young forever, even the most resilient of us must eventually face the prospect of growing older. Entering an advanced age brings about a unique set of challenges that must be addressed. For example, thoughtful long-term care...
When doing estate planning in New York, you may come across a number of terms and definitions for things that you do not fully understand. This is normal, as most people have no experience with estate planning when they start, and it is to be expected. However, it is...
