While proper estate planning can help all New York residents trying to get their affairs in order, those who own their own businesses can face a particular set of challenges requiring special planning. Many times, it is those who start out as employees at larger...
The two most important things that New York couples without children need to decide in their estate plan are: (1) what will happen to their property after they die; and, (2) who they want to manage their financial affairs and medical affairs in the event that both...
When it comes to estate planning, whether in Rochester or other areas of New York, the legal jargon can cause confusion. For example, when people hear the term legal trust, it sounds simple, but when they learn that there are many different types of legal trusts, they...
Getting a will in place that you have thoroughly thought about can give you peace of mind that will allow you to enjoy your remaining years without fretting over what may happen if you pass without your final wishes being met. Even young people need to be thinking...
When a person dies in New York State the Surrogate's Court becomes the venue which will decide on the proper supervision of the decedent's assets and property. Typically, this process will begin by establishing the validity of the decedent's will. Generally, a will is...
While many people have estate plans, trusts and wills set up, they may not have anticipated that they would need someone to take care of making decisions for them while they are still alive. When people are incapacitated, however, and unable to make decisions for...
Every estate planner's worst nightmare is to have his or her circumstances change before death, without having enough time to update his or her will and estate plan. A lot goes into a well-designed estate plan and sometimes individuals just let their wills and trust...
Do you keep putting off making your will or your estate plan in New York? Maybe you're not concerned about it right now because it seems like such a distant future. Many people, for example, decide not to set up anything for future medical care because they figure...
Retiring is usually a happy occasion and a time in life when you feel free and relaxed. Unless you feel guilty, that is. Many retirees don't have an estate plan and live a fasted life upon retirement because they want to be sure to have something to leave as an...
In a previous blog post, we discussed how technological advances have forced certain changes in New York estate planning laws. In particular, we talked about how the duties of a fiduciary have grown to include handling the electronic and digital records for a...
