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...
Estate Planning
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...
Legal pathways to leaving your home to your children
Planning for a time when you are no longer with your children is a challenging task. And while you may consider a will as the optimal way to transfer your assets, many other avenues remain that can be more conducive to leaving your home to your children in New York....
What to consider when creating an estate plan
If you are a legal adult, you're strongly encouraged to have an estate plan. Doing so may help to ensure that your kids can stay in your New York home if you become incapacitated or ensure that your wishes are respected after you pass away. There are a number of steps...
Responsibilities as a newly appointed executor
The executor of a last will and testament holds an honored position that comes with many responsibilities. In New York state, the named executor is responsible for carrying out the wishes outlined in the will. When the will belonged to your parent, there is an added...
Serving as the executor of your parent’s will
New York law allows any adult who is of sound mind to serve as the executor of an estate. Therefore, your parents are perfectly within their rights to appoint you in their wills as their estate representative. When one of them dies, you will be responsible for...
What to look for in an attorney-in-fact in New York
You may not always be available to deal with some of the important transactions or decisions in your life. If you don't want your plans or businesses in New York to stop in those times, you'll need someone to act for you. That's where an attorney-in-fact comes in....
How to bring up your parents’ estate plan
Many people in New York and around the country feel awkward about bringing up their parents' estate plan to them. However, you may want to overcome the fear of having this uncomfortable conversation and encourage your parents to write a plan if they haven't yet. There...