New York wills are comprised of various clauses and parts that are all required to clearly state someone’s wishes after they pass. It might be confusing to understand all the different parts of a last will and testament, but most are relatively straightforward. What...
A will is a key estate planning document that helps you dictate how you want your assets distributed to your heirs in the event of your death. Without it, your loved ones will have to go through probate, which takes time, money and can lead to family conflict. They...
Planning your estate in New York can be a complex affair. This will be all the more true if you fit the description of a high-net-worth individual. If this is the case, you will need to take extra care in your plans. You don't want to make a mistake that can lead to...
When developing your retirement plan, tax-deferred and tax-exempt retirement savings accounts are standard instruments to ensure you have enough money to live on in New York after you stop working. How are they different, and which one should you use? Tax-deferred...
Wills are among the important documents you'll need to sign to help secure your future, much like a marriage license or home loan. It's important that you know what is included in your will before signing so you can be sure your final wishes will be carried out by...
The biggest mistake you can make in estate planning is not having any sort of a plan at all. This is true in New York and around the country. Any will that you create is usually better than leaving no will at all. However, there are some common mistakes that you’ll...
Creating an estate plan may help ensure that your needs are met both now and after you pass. If you fail to create a valid will, New York law must determine what happens to your assets after your death. Failing to create a valid trust, power of attorney or other...
Most New York residents recognize the importance of preparing end-of-life documents, but some may not know the steps they need to take to get started with estate planning. People who take the time to work through this process, including the preparation of wills,...
When parents in upstate New York do estate planning, they might have questions about nominating guardians. Suppose someone who is the ideal person to be the guardian of a child is not good at managing finances. Likewise, the best choice for an estate guardian might...
Thinking about estate planning usually is not high on many individuals' to-do lists in New York. However, creating wills is critical for ensuring that their assets are protected down the road. Here are a few tips for making the most of the estate planning process...
