An established New York legal source on estate planning duly notes that “trusts are a powerful tool.” Here’s why: There are myriad types of trusts in the estate planning realm, and they are notably flexible vehicles that can be established to creatively address...
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Estate Planning
How much does it cost to probate an estate in New York?
The legacy that someone leaves behind when they die truly depends on how carefully they saved and planned while they were still alive. Whether you are an executor carrying out someone else's last wishes or a testator trying to plan your own legacy, avoiding probate...
How often do you need to review your estate plan to keep it valid?
Once you are ready to build an estate plan, you’ll need to sit down with your attorney to go over your wishes. Finalizing your estate plan is an excellent feeling of a job well done, but the reality is that you never really finish planning. Estate plans should be...
How to secure and evaluate the property that belongs to an estate
There are many tasks expected of the executor of an estate. They have to file paperwork with the New York probate courts, handle financial responsibilities on behalf of the deceased and even distribute their property to their loved ones and heirs. The process of...
No kids and no family: Do you need an estate plan?
If you are someone who has no living family, no spouse and no children, you might be in a position where you aren’t sure what to do about your estate. You may not feel the need to have a will or estate plan, because you have no specific heirs to leave your assets to...
3 different ways to structure an inheritance left for young kids
Parents usually want their estate plans to protect their children. Becoming a parent is often one of the motivating factors people reference when sitting down to make their first estate plan. You want to have the peace of mind that comes from knowing that there is a...
Are you worried that you need to disinherit one of your children?
You've worked hard throughout your life to give opportunities and support to your children. Unfortunately, many parents experience the stress and disappointment of having a child who does not live up to their expectations. If you have a member of your immediate family...
A guardianship should be in your estate plan for your minor children
One thing that you’ve realized over time is that having a family has changed you. While you used to think that planning for the future wasn’t important, you now realize that it is more important than ever. If you aren’t there to take care of your children, who will...
Estate planning and paying for long-term care
When creating an estate plan, you’ll naturally turn a good portion of your attention to your life in the future. And for most people, that means coming face to face with the idea that they may one day require long-term care, such as in a nursing facility. Estate...
How do you handle probate court as an estate executor?
People die every day in New York, and many of them leave behind estates that will eventually wind up in probate court. Many factors influence whether you will need to probate an estate as the executor. For example, the overall financial value of the estate will...
