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Intestate succession is not a legal concept that many New Yorkers are familiar with. It refers to the system of beneficiaries that state law recognizes when a person dies without a valid will. If an individual owns property or assets at the time of their death and...
If you have a loved one who suffers from a physical or mental disability, then you’re probably worried about their future, especially if you provide them with a lot of support. This consideration should definitely be taken into account as you create your estate plan....
In New York, in order to qualify for Medicaid benefits, you must have assets below a certain threshold. The threshold is very low, and most people do not want to impoverish themselves just so they can qualify for the benefits they may need for nursing home care. It...
Independent small businesses faced a difficult 2020. But their bankruptcy options are limited. Chapter 11 reorganization is a time consuming and costly process which is only realistic for large corporations. Chapter 7 and Chapter 13, however, may be reasonable options...
If you’ve decided that it’s time to execute a plan to protect your assets, put instructions regarding health care decisions in writing and provide an inheritance for your loved ones, then you’re in a distinct category apart from those in New York and beyond who won’t...
In the state of New York, couples wishing to dissolve a marriage can choose “no-fault divorce.” State law has not always included no-fault divorce, however. Up until 2010, parties wishing to divorce would need to assign fault to one spouse or the other in order to...
As people grow older, their grown children may begin to assess their parents’ futures as well. While people often think of the division of assets when doing estate planning, it is important for them not to forget that there will come a time when they will need more...
Determining child custody during divorce is important and may be one of the most crucial concerns divorcing parents have. Knowing how the process works, and what to expect, is helpful for divorcing parents to be familiar with. Child custody factors used to determine...
Movie fans in Williamsville, especially fans of the Marvel Universe, were saddened earlier this year to hear of the death of actor Chadwick Boseman due to colon cancer. However, we can learn something about estate planning from his tragic and untimely passing, because...
Make no mistake, divorce, while certainly an emotional endeavor, is a major financial transaction. By the time all is said an done, your marital assets will be divided in an equitable fashion, which could lead you on uncertain financial footing. This is why it is...
