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Month: August 2022

6 tips for choosing the right executor in New York

Choosing the right executor often requires serious thought. There are multiple factors to consider beyond trust, such as health, youth, their willingness and their level of responsibility. 1. Have a backup It's advisable to choose both an executor and a backup...

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TOD accounts or revocable trusts for transferring assets?

Transfer on death or payable on death accounts make people question whether they should create revocable trusts. TOD and POD accounts avoid the probate process after someone dies. New York allows a person to register stocks and bonds in a TOD account. There are pros...

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Can my estate bypass probate?

Assets that remain inside of your New York estate will likely be subject to probate when you pass. However, it's possible that at least some of your assets will be able to bypass this process if you use beneficiary designations. In addition, any assets that are owed...

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Charitable giving and what you can donate

Each year, people from all walks of life give back by donating to various charities. If you plan on donating money in New York, there's a certain set of guidelines to follow. Here's more information about tax rules and what you can donate. What can you donate to...

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Can you set up a special needs trust in New York?

If you leave behind an inheritance for your special needs child in New York, they may become ineligible for government benefits. They must wait until they have used their inheritance to apply again for government benefits. The way to prevent this from happening is to...

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What are the most common causes of slip and fall accidents?

Slip and fall accidents are among the top reasons why New York residents get injured. It’s important to know the most common causes of these types of accidents. What can cause slip and fall accidents? Floors that are wet, slick or slippery from spilled liquids, recent...

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