Ensuring the well-being of loved ones incapable of caring for themselves is one of the greatest challenges any New York City family can face. If the onset of the incapacity is the result of some unexpected catastrophe, such as a near-fatal accident, concern about how...
A woman who celebrated turning 100 had this to say when asked how she felt about the achievement. "It's nothing to strive for." Not everyone feels that way, of course, but many do. And one of the certainties of the world today is that many of us are living longer....
Everyone needs an estate plan, but have you been procrastinating about getting the process going? Is it because you simply do not know how to start?Organization is the key. Here are five tips to set you on the path to painless estate planning. 1. Make a list of...
When people want to talk about their wills and trusts, they tend to turn to their spouses, friends, executors and attorneys. However, one potential group that people tend to put off discussing the estate with is their heirs, more specifically their children.It is...
Is it impolite to turn down a gift? Do a search of this question online and you'll find that opinions differ. Some observers say you should always accept with gratitude. Others suggest you factor in the intention behind the gift, or consider what negative implications...
We have noted often over the years that one of the biggest mistakes anyone makes regarding estate planning is failing to keep the living documents up to date. Every time we experience a life change, whether it be a marriage, divorce, death of a child, or some other...
It's an honor to be named executor of a will, but it's also hard work. While most executors understand their role, there can be a lot of confusion when it comes down to getting things done. Unless you work in the legal industry, the order of the process, the different...
There's a notable quote that goes, "No parent should have to bury a child." As the original source of that phrase also said, it's unnatural. The notion makes sense. The normal cycle of life calls for those of the older generations to pass before those in the younger,...
Family trees can be complicated things. Indeed, the nature of relationships today is such that it can be hard to find words to describe a given family. There might be second families, blended families, extended families and more. Such variables also create unique...
Trusts come in a wide range of styles. There are revocable trusts, irrevocable trusts, even incentive trusts, which we wrote about in a post some time ago. This is not a complete list of trust tools available under New York estate planning law. The one that might be...
