As you get older, planning for your future becomes increasingly important. Having a will and assigning a power of attorney (POA) is important to protect your financial future and ensure your estate is administered according to your wishes. It is also important to...
What to know about estate fees
Did you know that the IRS will still demand an estate tax on the property that devolves to your beneficiaries? If not thought out, the estate tax would massively diminish the portions beneficiaries ought to receive. Estate taxes are separate from probate fees that are...
Tips for when to update an estate plan
People in New York may want to consider revising their estate plan when they undergo major life changes, such as the birth of a child or a divorce. However, there are other situations that could also prompt the need to change an estate plan. For example, if a child is...
How to get started on an estate plan
Estate planning is vital for every New York family. Unfortunately, many people are under the impression that estate planning is difficult and burdensome. However, advance planning and education can help take some of the mystery out of estate planning, making it easier...
Important considerations when creating an estate plan
Many New Yorkers put off the estate planning process because they think they have too few assets to bother. However, an estate plan is important for all adults who want to have the final say in how their assets will be distributed. It can also appoint people to make...
The steps creating an estate plan
Some people in New York might have procrastinated on creating an estate plan. It can be a complex and emotionally difficult process, but some people may be prompted by a milestone, such as marriage or the birth of a child, to do so. The first step in creating an...
Should married couples create a joint will?
Sometimes, married couples have the expectation to do everything together and share everything together. This idea may pop up as you and your spouse create your estate plans. You may wonder if you only need to have one will or if your separate wills should be...
Trust options for those with disabilities
An estate plan is a common means people use to secure the future of their loved ones. Depending on the size of the estate and the particular needs of the estate holder and beneficiaries, different elements of the plan may be best for the estate.In particular,...
Important factors of a testamentary trust
A proper estate plan can individuals distribute their personal property and assets to the parties of their choosing. There are a few different elements that an estate plan may have, depending upon what the estate includes.In some cases, a testamentary trust may be...
The basics of estate planning in New York
Many people think that estate planning is only for the wealthy, but the truth is that anyone can benefit from advance planning about how to distribute their assets after their death. If you do not consider this important task prior to becoming elderly, ill or...
