New York parents often want to ensure each child receives an equal share of their estate. Sometimes, however, this isn't advisable or even possible. In such cases, they should consider their options and communicate their intentions to their children. Reasons for...
Estate Planning
Using an estate checking account for asset management
In New York and around the country, creating an estate to distribute and manage a deceased person's assets is typically necessary. The lack of designated beneficiaries for assets will often determine whether or not an estate is needed. If it is decided that an estate...
How to handle estate planning with alienated family members
In a perfect world, all family members would get along well. As New York residents know, peaceful familial relationships aren't always possible. Whether they're your parents, siblings or children, people stop talking to their families for many reasons. Besides...
Estate planning for an unexpected child is relatively easy
In most families, the difference in children's ages is between 24 and 29 months. Occasionally, families get a surprise with a new arrival they didn't plan for. The new baby could be as much as ten to 12 years younger than their closest sibling. After celebrating the...
Taking legal action against an executor
There are two scenarios in which you would consider taking legal action against an executor. The first scenario is when an estate representative fails to take timely action to satisfy a claim made by a creditor based in New York or elsewhere. The second scenario is...
What to consider while estate planning
Although many people assume that creating a will is the same as creating an estate plan, this is not the case. While having a will gives you more control over what happens to assets held in your New York estate after you pass, it may not be enough to meet your needs....
How much does estate planning cost?
For many people in New York, estate planning becomes a concern when they begin to think about the future. Whether you are getting married, having children or developing new financial success, any of these milestones may cause you to think about how to protect your...
Estate planning for financially struggling parents
Having to think about how your parents’ finances in New York will be handled if they pass away is unpleasant, but often necessary. It is important to know the warning signs that they may be struggling financially so that you can take the necessary steps to ensure...
How a DIY will can impact your estate plan
Planning your estate may seem like a simple do-it-yourself (DIY) task in New York, but you risk making costly mistakes and suffering unintended consequences by choosing this route. You may not know the intricate details and legal considerations in setting up a will...
Ensure your wishes are met by using these 4 estate planning steps
Estate planning in New York is essential if you own properties and investments or have minor children. With an estate plan, you can determine how your assets should be distributed after you pass away. Creating one will also clarify medical directives and power of...