When it comes to making important decisions on behalf of an elderly adult, guardianship and power of attorney are two options that are commonly discussed. Guardianship is a court-appointed role that grants an individual the legal right to make decisions on behalf of...
Estate planning is an essential step to ensure your wishes are executed after you pass, but as individuals age, it's also important to consider the possibility of long-term care due to a prolonged illness or disability. According to the Kaiser Family Foundation, one...
You may hate to think that your heir(s) will ever end their marriage, but the reality is that between 40 and 50% of all first marriages do end in divorce, with the rate of second-marriage divorces also rising even higher. Though you may not be able to predict the...
Being the executor of someone's estate is a big responsibility, and there are a number of things to consider before you agree to do so. As the executor, you are responsible for ensuring all debts are paid, distributing assets according to instructions in the will, and...
The current estate tax rate in New York ranges from 3.06% to 16%. According to these tax rates, estates over 6.11 million per individual in 2022 are subjected to taxation. In addition to these tax rates, the state has a tax cliff that mainly targets larger estates....
The death of a loved one or family member can be very emotional, and sometimes disputes arise among family members regarding trusts or wills. An estate litigation attorney is often needed to help resolve issues over the estate including the division of assets,...
Estate planning is necessary to ensure your assets go where you want them to, who you want them to go to, and that they're distributed in the manner you wish. However, when many people are asked about their estate planning, they reply that they don't have any because...
When thinking about your future, you may be considering both elder care and estate planning. It's important to know the difference so you can create a long-term goal now. Estate planning involves managing your assets in the event that you become incapacitated or pass...
The vast majority of estate planning happens without incident, but what if you suspect that your loved one was incapable of making legal decisions about their estate due to age or illness? Read on to learn about what makes a will valid or invalid. What is a will? A...
If you're getting your affairs in order, no doubt you've heard about trusts. There are lots of different types, but they generally fall into one of two categories -- revocable and irrevocable. Each has its own benefits, so the best choice for you will depend on both...
