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When it comes to estate planning, a lot of people focus on their wealth and what they can do to effectively distribute it to their loved ones. This makes sense. After all, you’ve acquired some wealth over time, and you’ll want to make sure that those you love and...
On its face, the estate planning process might seem straightforward. You create a will, maybe a trust or two, and then sit back and take it easy. Or you might think that your estate and distribution plan is so simple that you can forego estate planning altogether. But...
There are many factors to consider when taking the necessary step of estate planning in New York. Most will think about their own situation and decide whether they need a will, a trust, a guardianship and other key aspects of a comprehensive plan. A crucial part of...
Estate planning can involve many aspects, including creating a will or trust. However, people may not consider that it can also include Medicaid planning. Medicaid overview Medicaid is offered by the government and provides health care coverage. It is intended to be...
Starting your own business in New York is an exciting venture but comes with many risks. One of the biggest risks is running out of money. When you open your business, you likely have money set aside to run it for a couple of months, but business credit is what will...
Most New Yorkers view the signature on a relative’s will as the deceased person’s last works on how their assets will be distributed. In some cases, however, one or more prospective heirs are displeased by the terms in the will. Their only remedy is commencing a...
Older adults are often more likely to suffer from medical conditions that impact their physical and mental abilities. As a result of their health issues, many elderly New York residents get to the point where they are no longer able to manage to care for themselves or...
There’s a lot of different ways to direct your assets once you pass away. While these options are great in that they allow you to custom tailor your estate plan to suit your needs, the complexities of it all can feel overwhelming. Don’t let that fact drive you to...
Recent surveys indicate that only about one-third of Americans have a will. A common question is what happens to the assets belonging of those who die without a will. Intestate laws Like every other state, New York has laws — known as intestate laws — that specify how...
The answer to this question depends on a number of factors. Your first step, though, is gaining a thorough understanding of the difference between a will and a trust. Unfortunately, there are a lot of misconceptions out there, which has left many people thinking that...
