When planning your estate and financial issues, you should also consider including plans for your medical wishes should you become ill or incapacitated. An advanced directive may include several different facets that address and carry out your health care plan either...
Understanding different powers of attorney
A power of attorney is a signed legal document that gives a trustee or person the legal authority to act and make decisions on your behalf when you do not have the capacity to make decisions. For example, you may want someone to act on your behalf if you are...
Elder law: What you need to know
Elder law focuses on the legal rights of senior or disabled persons. The elderly are at risk of abuse by their family members or caretakers. Therefore, elder law protects them from any form of exploitation or harm, including financial, physical, verbal, or...
3 ways to avoid probate in Brooklyn, NY
Probate litigation can be costly, time-consuming and confusing for beneficiaries. The longer the court proceedings take, the more it will cost. In some cases, it may take several years to resolve, which might leave the heirs with less than the deceased wanted....
3 negligent mistakes to avoid in estate planning
Planning for your departure is one of the most difficult but important parts of aging. All your hard work can go to waste if left in the wrong hands. In cases where multiple beneficiaries are involved, your loved ones can end up at war with each other for a piece of...
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...
The basics of a trust
Having an estate plan is vital. It ensures that your property or assets will be easily transferred to your chosen beneficiaries after you become incapacitated. There are numerous disadvantages of not having an estate plan, and they include family feuds, the exorbitant...
4 major benefits of estate planning
It is common for people to mistake estate planning as reserved for the super-rich. What's the point if you don't have huge stock portfolios, mansions, fancy cars and other pricey possessions like fine jewelry and yachts? In fact, estate planning is all about ensuring...
How can a power of attorney affect your estate planning?
During the sunset years, your health becomes unpredictable. The risk of developing dementia and other incapacitating health conditions increases as the years tick away. If you haven't granted a power of attorney to someone yet, it's crucial to do so now. Nominating a...