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For some older adults, the years immediately before their retirement will be when they first put together an estate plan. Plenty of others will already have an estate plan in place when they start discussing retirement, but recognize that they will need to make some...
In your estate plan, you’ll work out many crucial details to ensure your assets are given a new home after you pass away. Of course, you’ll itemize your assets, plan your funeral arrangements and designate an executor of the estate - all of which prepare for what...
Most aspects of your life will change dramatically when you have children, and your estate plan is no exception. You will need to make significant changes to the documents you already have or finally make the effort to create an estate plan if you have procrastinated...
Every adult could benefit in some way from the creation of an estate plan. Unfortunately, many people fall into one of two common estate planning traps. They procrastinate for so long that an emergency arises before they create documents or they only create protective...
If you are designing an estate plan, one of the things you need to do is to talk to those in your life about it. For example, if you have decided who you’d like to have as your health care power of attorney or financial power of attorney, that person (or those people)...
As a part of your estate plan, something you may want to do is to look into long-term care planning. Long-term care planning gives you the opportunity to think about the situations you may run into as you age and take steps to make sure your wishes are known and be...
When someone dies, they will usually have some leftover financial obligations for their loved ones or the executor of their estate to address. An executor has a responsibility to fulfill the remaining obligations of a deceased individual. This responsibility applies...
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...
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...
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...
