Good for you if you have already made advance healthcare directives a priority in your estate plan. You have taken the first step in controlling your medical care even if you become incapacitated and cannot speak for yourself. To better ensure your healthcare...
Estate Planning
When should your will be updated?
A will is a legal document that allows you to pass on instructions as to how your assets should be divided upon your death among your heirs and other beneficiaries. A will can also include guardians to look after your young children. Drafting a will is not a one-time...
Who is the right estate executor for you?
When you draft an estate plan, one step you have to take is to choose an estate executor or an estate administrator. Your estate plan itself provides instructions for your family. The estate executor is the person you’ve put in charge of going through the...
Even young adults need a digital estate plan
Most of today’s young adults grew up electronically connected to the world. As such, most young adults each boast a significant digital footprint that includes everything from social media accounts to online banking, email and even virtual currencies. This shift has...
Why address sentimental items in an estate plan?
When you start making an estate plan, odds are that you will think of your most valuable assets first. Who gets the family home? How do you divide up a life insurance policy? What happens to your investment portfolio or your bank accounts? It is important to think...
4 Mistakes to avoid when drafting an estate plan
Making an estate plan is one of the best decisions you can make to ensure your assets are distributed according to your wishes and your loved ones are taken care of after you're gone. It is therefore important to ensure that everything is done right to avoid...
What makes a will invalid? 2 pitfalls to be aware of
A will is a final act that articulates your wishes regarding the distribution of your estate upon your death. Done right, a will can safeguard your legacy and secure your loved ones’ future – financially speaking. In the absence of one, your estate would be...
Should you discuss your estate plan with others?
While making an estate plan involves a lot of personal choices, you do not necessarily need to keep those choices to yourself. Sharing them while you still can is often a good idea for you and those you will leave behind. These are just some of the reasons why you...
Why add a pour-over will to a living trust?
Using a pour-over may make it easier to keep assets such as a New York home or vehicle out of your estate. At the time of your death, any assets that aren't included in your living trust will be poured into it through the will. You never know what the future holds You...
The downsides to probate in New York and how to avoid them
Probate can be a difficult process in New York. In most cases, it’s wise to avoid the probate process. It may result in an outcome for your estate that does not match your preferences. While death is scary to think about, everyone should plan for what happens to their...