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...
As you probably know, there are two types of estate planning documents -- wills and trusts. There are many differences between these two documents and how they serve to protect your loved ones after you're gone, so it's important to understand which one works best for...
Part of estate planning involves making sure that you or your loved ones are taken care of as you age. Nursing homes, assisted living facilities and other forms of long-term care can be quite costly, however. It's not unheard of for a person to quickly exhaust their...
Many families in New York have disabled family members. Taking care of a disabled family member is a lifelong endeavor for most. Providing for this family member extends beyond the life of the caregiver in many cases. The solution to providing for the long-term care...
The lengthy discussion on loan forgiveness for college graduates and students reached a crescendo with President’s Biden’s recent decision allowing millions to forego repaying certain amounts to the government. In estate planning circles, such news may make some...
Most of us realize we have to pay taxes when we’re alive. This includes income, capital gains, and property taxes. However, your estate might also have to pay taxes on a state and/or federal level. New York is one of the few states that imposes an estate tax, or...
Everyone gets older. Although the topic may not be fun, the ability to care for oneself degrades over the years. Relatives of a higher vintage are closer to reaching this stage. Younger generations are responsible for arranging a comfortable future for them. There are...
A will is a legal document that makes a testator's wishes known upon their death. Common areas covered in a will include how property and assets are to be disbursed among family and friends. In some cases where a testator has children under the age of 18, a will...
