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...
Let's presume you are a millennial only child and your parents are in their 60s. Maybe you are not feeling concerned about their ability to take care of themselves right now, but you recognize that the day is bound to come when they won't have the capacity to make...
One of the most common questions that estate planning attorneys address in the initial stages of the process deals with identifying an executor or executors. These are the individuals who are named in your plan as having the responsibility of and authority for...
Perhaps the most important tip in response to the question posed in the title of this post is: Create one. It is unfortunate, but too many people make the mistake of thinking they don't need an estate plan.Maybe it's because they don't think they have assets of a kind...
