An executor, also known as a trustee or personal administrator, ensures that the decedent's property and possessions are distributed to the beneficiaries according to the last will. The law requires the trustee to execute these duties with the utmost honesty and...
When to consider an irrevocable trust
The term "irrevocable trust" is sometimes used during estate planning; however, the exact definition of this term is not always clear. An irrevocable trust is a legal agreement that enables someone to transfer their assets to another person. This type of trust cannot...
Get your affairs in order: Here’s an estate plan checklist
An estate plan isn't for only the wealthy. Estate plans are for anyone who has family, medical wishes and assets they would like to see managed. Having your affairs in order before disaster strikes is no less than an act of kindness. Here is a checklist of what you...
Little-known reasons you need to update your will in NY
You already know that you should reevaluate your estate planning if your family experiences a marriage, divorce, birth or adoption. However, there are some lesser-known circumstances that require you to take a second look at your will. A beneficiary is incarcerated If...
Establishing an estate plan prevents complications for your loved ones
The purpose of estate planning is to provide clear direction into how your assets and possessions are to be distributed to avoid a lengthy and expensive process later in the event of incapacitation or death. Providing a will and assigning a Power of Attorney can ease...
Show your pet eternal love with a pet trust fund
One of the worst parts of growing older is that we often worry about the things we may leave unfinished. With proper estate planning, you can ensure that you leave nothing to chance. Especially if it pertains to the pets that you love so much. There are pet trusts...