A family limited liability corporation, or family LLC, is a form of business organization that families can use to manage their wealth. A family LLC is also an estate planning device that can accomplish several goals, including avoiding probate and minimizing any...
Conscientious people in New York know the value of having an estate plan. Many choose to have a will to make sure their loved ones are taken care of and their property goes where they want it to go after they are gone. It is frequently the simplest solution. However,...
Many people begin their estate planning journeys without understanding what the related legal terms are, which can be confusing and can lead people to make decisions that may not be in their best interests. For example, one of those words is probate. Probate is the...
When a Williamsville resident creates their will, they decide how their property will be distributed according to New York law. But what happens if some of their property lies in a different state? The answer hinges on various factors, including property type, value,...
There are fundamental parts of estate planning and the aftermath of a person’s death in New York that must be understood. One is probate. Probate can be confusing to some as there is legal nuance to sift through. For the executor and people who will receive property...
There are several items to keep in mind when starting your estate plan, including who to choose as your beneficiaries. The beneficiaries are the people who receive the distribution of your assets after you pass away. Estate planning Before you start your estate plan,...
Surveys have shown that many American adults -- perhaps as many as 60% -- do not have a will or any plan for their estates. Many people think they're too young for estate planning, or that they don't have enough property to make the process necessary. Many more simply...
Litigation over a will can be extremely difficult and expensive, and it can tear families apart. No rational person wants that kind of mess to be their legacy, and so many people who are planning their estates look for ways to reduce the possibility of probate...
After a person dies, their estate goes through probate. You have probably heard of probate but may be unsure of what it is or what the process involves. Perhaps you have heard that you should try to avoid the probate process because it is lengthy and complicated....
A will specifies who will inherit your property, who will take care of your minor children, who will administer your estate and how your debts and taxes will be paid. The basics You can include any property that you own solely or jointly. You can also include any...
