Many people wrongly assume that only very wealthy individuals or those with many assets and belongings need an estate plan. In reality, however, even individuals of modest means likely have sentimental possessions they wish to leave to children, grandchildren or close...
In our last blog post, we discussed the benefits of designating a power of attorney when planning for future financial needs and security. We also looked at how family members can gain conservatorship rights in cases where a loved one has failed to designate a POA. In...
With the aging of the populous baby boomer generation, more New York families are dealing with figuring out how to provide for the care and wellbeing of an aging parent or loved one. Individuals over the age of 65 are more likely to be impacted by a serious illness or...
Fifty years ago, the typical American family consisted of a man, woman and 2.5 children. In contrast, today’s American families readily include same-sex couples, divorced spouses, step-children and half-siblings. A more complex familial structure requires...
Throughout one's lifetime, the average man or woman will likely accumulate some amount of wealth. Upon one's death, depending on how this wealth was handled and distributed, it could be taxed or it could be tax-free. Proper estate planning can assist New York...
Almost no one in New York or anywhere else wants to talk about their end-of-life issues and how they should be dealt with. It's a situation few people are comfortable with and even fewer are equipped to handle. Regardless of the discomfort it causes to discuss, a...
When an individual dies, his or her assets and debts must be distributed and paid. In most cases, estate planning documents such as a will or trust help direct loved ones in determining how assets and possessions are to be distributed. Sometimes, however, a will may...
During 2012, nearly 70 percent of U.S. households had a pet. The most commonly owned and beloved pets are cats and dogs and an increasing number of pet owners are taking steps to ensure and provide for their pet's future wellbeing. We've likely all witnessed pet...
We frequently discuss how estate planning matters pertain to married individuals and couples. Of course all individuals, regardless of marital status, would be wise to take steps to set up an estate plan and plan for end of life matters. For couples who choose not to...
Parents raising a child with special needs are often overcome by the daily tasks associated with providing for a child’s care and wellbeing. Children with physical or mental disabilities often require special medical care and benefit from additional counseling...
