Even if you’re healthy now, there’s a significant chance that you’ll need long-term care at some point in the future. In fact, studies have shown that 70% of those age 65 and older will need some form of long-term care. This is a significant number, especially in...
If you are a New York resident and you are going through a divorce, you may wonder how this will affect your estate plan. Divorce can have a significant impact on your will, beneficiary designations, powers of attorney and other estate planning documents. Therefore,...
Estate planning is a personal process and journey with no right path. What works well for one person’s situation may be difficult or impossible for a different person. It also comes with a new litany of estate planning options. Like your tool bag, you may choose one...
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...
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...
