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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...
There are a lot of ways to use the estate planning process to protect your wealth. One way is to be careful about who you leave your assets to, but sometimes you want to provide financial support to a loved one even when they don’t have the greatest track record of...
If you’re part of a blended family, then you need to take care as you navigate your estate plan. A lack of diligence and thoroughness here could leave your estate in the hands of individuals whom you never intended to inherit, which means that your loved ones could...
Creating an appropriately thorough estate plan can take some time and effort. A lot of this is attributable to learning your estate planning options and figuring out what you want for the future of your assets and your loved ones. And yet, even though you might feel...
In a recent post on this blog, we discussed the importance of guardianship for vulnerable adults. In this post, we will focus on why guardians are so important for young children, and why Williamsville, New York, parents need to make guardianship a part of their...
There can be a lot of moving parts in an estate plan and creating an effective and appropriate plan can require attention to detail. That’s why many people put off estate planning. But procrastinating can put you, your estate, and your loved ones at risk. If you want...
To build an estate plan that meets the needs of the estate planner, it is important to know about the different estate planning documents they should consider including in their estate plan. Different estate planning tools can help estate planners develop an estate...
In the past, New York State residents who wanted to create a comprehensive estate plan made sure it included tangible assets like real estate, collectibles, items of sentimental value, money, retirement assets and bank accounts. These were relatively easy to find,...
When people think about estate planning, the first thing they think of is making a will. If they go deeper, maybe they also consider setting up a trust for a specific need. But estate plans aren’t just about money. Health care directives aren’t something that comes...
