For Millennials, at this point in their lives, they should be concentrating on buying their first home, getting married and maybe, even having children. Unfortunately, with souring student loan debt, Millennials are often delaying these major life event, especially in...
Failing to create an estate plan can have serious consequences
While estate planning can sometimes be a difficult subject to broach, it is often one of the most important conversations for a family to have. Estate plans are not just for wealthy individuals. Instead, estate plans are varied and nuanced and can help address a...
Proactive estate planning moves in an election year
The connection between presidential politics and estate planning is undeniable, as policies tend to change depending upon who sits in the White House. That’s why it’s essential, especially for high-net-worth individuals, to review your current estate plan and examine...
Avoid unexpected problems with a power of attorney
While some people in New York are diligent about preparing wills, trusts and other documents related to estate planning, one area that sometimes gets overlooked is establishing a power of attorney. Not having a power of attorney in place can have repercussions in...
How to approach estate planning as part of a blended family
The so-called “traditional” family structure – a mother and a father, on their first marriage, raising children together – is no longer the norm. Fewer than half of American children live in this type of situation, according to Pew Research, a significant change from...
Power of attorney is key for protecting retirement accounts
New York residents who have considerable assets will do everything they can to protect them. These assets will most likely be used to fund everything from retirement to college funds and other major expenses. One great way for New Yorkers to protect their investments...
The benefits of estate planning for business owners
Estate planning can cover far more than simple liquid assets and real property for New Yorkers. For instance, business owners should consider who they want to take over their companies if they pass away or become incapacitated. People with retirement accounts should...
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...
3 benefits to creating an advance directive
As you go through life, you develop opinions on the type of medical care you think is appropriate for you. Whether you never go to the doctor or keep regular appointments, you have wishes for the care you prefer to receive. But if you find yourself incapacitated and...
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...
