In New York, people who have created an estate plan have the right to feel a sense of satisfaction that they have taken steps to shore up their future and are prepared. A well-crafted estate plan can address all issues such as who will receive property, how businesses...
Buffalo New York Legal Blog
How does my impending divorce affect my estate plan?
The dissolution of a marriage invariably brings significant changes to one’s life, and estate planning is no exception. In New York, a divorce can have profound implications on an existing estate plan, particularly concerning wills, trusts and designated...
How to spot undue influence in estate planning
A perfectly executed estate plan will leave your loved one’s assets to those they care about in a way that aligns with their overall vision. However, there are sometimes issues that draw the validity of an estate plan into question. When this occurs, certain parties...
What is a family LLC?
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...
What if a person has a child after executing their will?
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,...
New York nursing home costs in 2024
If you are contemplating a move to a nursing home in New York or assisting a loved one in doing so, understanding the associated costs is crucial. The intricacies of nursing home expenses are influenced by multiple factors like location, duration and required care...
Why you should avoid probate and opt for estate planning
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...
The evolving process of estate planning
Although we are well past the point in the year when people make New Year’s resolutions, there is still time to make meaningful changes. This not only means considering what you can do now to make the present better, but it also means assessing ways to better secure...
Tips for effective Medicaid planning
Medicaid is a federal assistance program that helps participants with the rising costs of medical care as they grow old. Many states, including New York, have their own financial assistance programs that can be combined with Medicaid to provide significant help to...
What happens to my will if I live here, but have assets elsewhere?
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,...